Core Economic Statistics Required

Capacity

Session-2: ESCAP CORE STATISTICS

Core requirements to build capacity by 2020

Bruce Hockman
Division Head
Business Industry and Environment Statistics
Australian Bureau of Statistics

Core Economic Statistics Required

Capacity
PURPOSE OF THE CORE SET OF ECONOMIC
STATISTICS
1. Indicative NOT Prescriptive
2. Judged to be minimum set for effective
economic analysis and monitoring
3. Should be tailored to individual countries
needs
4. Need is determined by information
requirements of Government and NonGovernment decision makers

Core Economic Statistics Required

Capacity
INFORMATION NEEDS
(a) The conduct of monetary policy;
(b) Establishing and monitoring the governments
fiscal position;
(c) Assessing the long-term capability of the
economy, with a focus on sustainable growth;
(d) Developing policies designed to achieve
generally agreed economic goals, such as
increased economic welfare and greater equity;
(e) Measuring the economic, social and
environmental impact of internal and external
shocks;
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Core Economic Statistics Required

Capacity
INFORMATION NEEDS (cont)
(f) Providing the information necessary for the
efficient functioning of markets;
(g) General monitoring and forecasting of the
economy;
(h) Informing economic, social and environmental
analyses;
(i) Meeting international obligations to provide
information about the performance of the
economy and the well-being of the nation.

Core Economic Statistics Required

Capacity
SEVEN ECONOMIC STATISTICS DOMAINS IN THE
CORE SET
1. Prices and Costs
2. Demand and Output
3. Income and Wealth
4. Money and Banking
5. Government
6. Labour Market
7. Natural Resources and Environment

Core Economic Statistics Required

Capacity
PRICES AND COSTS
1. CPI
2. PPI
3. Trade Prices
4. Commodity Prices
5. Residential Property Prices

Core Economic Statistics Required

Capacity
DEMAND AND OUTPUT
1. GDP production and expenditure accounts, in
current and constant prices, to measure demand
and supply
2. External trade
3. Short-term industry output measures
4. Industrial structure statistics
5. Short term, disaggregated demand statistics
(consumer, investment fixed and inventory)
6. Productivity measures

Core Economic Statistics Required

Capacity
INCOME AND WEALTH
1. National accounts for the economy, to measure
income, savings, investment, accumulation and
wealth
2. National accounts by sector to measure income
redistribution, sector income, savings,
accumulation,
3. financial investment etc. [minimum sectors:
household, government, enterprises]
4. Balance of payments to measure international
income and capital flows
5. International investment position, to measure the
nations overseas net debt
6. External debt statistics

Core Economic Statistics Required

Capacity
MONEY AND BANKING
1. Assets / liabilities of the banking system
2. Monetary measures
3. Interest rates

Core Economic Statistics Required

Capacity
GOVERNMENT
1. Revenue and expenditure, borrowing and lending
2. Government accounts on a SNA and/or GFS basis

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Core Economic Statistics Required

Capacity
LABOUR MARKET
1. Labour supply and characteristics of the labour
force
2. Labour/skills demand, employment,
unemployment, hours worked, underemployment,
employment in the formal/informal sectors
3. Job creation and vacancies

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Core Economic Statistics Required

Capacity
NATURAL RESOURCES AND THE ENVIRONMENT
1. Sustainable measures of economic growth (i.e.
including indicators of environmental constraints
on growth)
2. Discovery, depletion and degradation of natural
assets in the economic process

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