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PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat NATIONAL ACCOUNTS IN TURKEY 1 TurkStat.

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Presentation on theme: "PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat NATIONAL ACCOUNTS IN TURKEY 1 TurkStat."— Presentation transcript:

1 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat NATIONAL ACCOUNTS IN TURKEY 1 TurkStat

2 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat Contents 1-GDP Estimates 2-Revisions 3-Major Improvements 4-SNA Revision 5- Implementation process in Turkey 6- Main changes and actions to be taken TurkStat

3 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 3 GDP Estimates Gross Domestic Product (GDP) in Turkey had been started to calculate after the foundation of Central Statistical Office. Calculation of GDP are based on quarterly and annual data compiled by short term and annual surveys conducted by TurkStat. TurkStat

4 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat Gross Domestic Product is estimated by production, expenditure and income approaches. 4 GDP Estimates The system consists of the following elements: Value added by kind of economic activity at current and constant prices, Expenditure on GDP at current and constant prices, GDP by cost components at current TurkStat

5 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 5 Revisions Definitions, classifications and other methodological improvements, Improvements in data sources, Improvements in data collection. Historical revisions of Turkish National Accounts Base Year 1948 (Published in 1950) Base Year 1968 (Published in 1972) Base Year 1987 (Published in 1993) Base Year 1998 (Published in 2008) TurkStat

6 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 6 Major Improvements Improvements to the commodity flow system – The identification of goods used in intermediate consumption, investment and household consumption was improved. Improvements in the methodology – Some changes to concepts and definitions and calculating value added at basic prices were introduced. TurkStat

7 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 7 Major Improvements Improved Supply and Use tables for 2002, basis for benchmark year –The 2002 Supply-Use and Input-Output Tables were the first tables compiled by the concepts, definitions and classifications of the ESA-95 Financial Services – Measurement of FISIM according to ESA 95 was applied. – A portion of FISIM was allocated to final consumption. – A portion of FISIM was allocated to intermediate consumption in GDP by production approach. – Measurement of Central Bank output was developed TurkStat

8 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 8 Major Improvements Adoption of chain-linking method in constant price estimation –Chain-linking method in constant price estimation was adopted –Unit value indices at constant price estimation of exports/imports of goods were applied. Measurement at basic prices (GDP by Production Approach) – The VAT (and other taxes and subsidies on products) are now shown as a separate component of GDP. TurkStat

9 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 9 Major Improvements Classification systems based on ESA 95 and other international standards –New classification of industries (NACE) and private household consumption (COICOP) are used. –Reclassification of some components of GDP by industries is used. Final Consumption Expenditure of Households is given in detail. Estimates for the non-observed economy were recalculated using more detailed data. TurkStat

10 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 10 SNA Revision The SNA is a statistical framework that details a set of macroeconomic accounts. SNA-2008 serves as an update to The System of National Accounts, 1993 (SNA-93). Revision at international level was followed by the revision at European level (ESA-1995 to ESA-2010). TurkStat

11 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 11 SNA Revision The aims of the revision To update of the system to better meet the economic development Smooth transition from previous system with not introducing fundamental and extensive changes Harmonization with related handbooks TurkStat

12 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 12 Implementation process in Turkey Questionnaires will be changed and developed according to the requirements for implementation, To achieve the objectives in the implementation of new SNA, TURKSTAT will pursue a general policy, A detailed description of sources and methods of compilation GDP will be prepared, TurkStat

13 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 13 Implementation process in Turkey Institutional sector accounts will be prepared, Changeover to the new classifications for annual and quarterly data will be realized, Backcasting of annual and quarterly GDP series will be realized, Non-observed economy estimates will be improved, TurkStat

14 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 14 Implementation process in Turkey Quarterly sector accounts will be developed, SUT and IOT tables will be compiled more frequently, National accounts database will be developed, Close cooperation with stakeholders will be improved, Number of trainings will be increased, Some projects have been proposed to Eurostat. TurkStat

15 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 15 Main changes and actions to be taken The main the main changes in SNA-08 with respect to SNA- 93 can be classified in 5 sections as 1.Assets 2.Financial sector 3.Globalization 4.General government and public sector 5.Informal sector TurkStat

16 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 16 Main changes and actions to be taken Assets The changes by treatment of natural resources and licenses and leases will be studied. Expenditures for weapon systems treated as capital formation and assets will be investigated but is difficult to implement in short or medium term. The concept of capital services is being investigated TurkStat

17 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 17 Main changes and actions to be taken Financial Sector Changes in treatment of financial derivatives and non-performing loans is being investigated; Refined method of measurement of FISIM is being studied. Globalization Clearly defined guidelines for the treatment of companies and units operating in more countries is being investigated; Treatment of remittances from the movements of persons abroad is being studied; TurkStat

18 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 18 Main changes and actions to be taken Globalization Recording according to principle of change in ownership of goods will be investigated. The main issues are: – Difficulty in obtaining source data – Difficulty in distinguishing goods for processing from other goods in external trade – Treatment in supply and use table Recording of goods for processing and merchanting will be changed. There are some issues raised, including: – Lack of appropriate source data – Difficulty with the conceptual notion of negative export – Difficulty with coordination of balance of payment areas TurkStat

19 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 19 Main changes and actions to be taken General Government and Public Sector Additionally defined and clarified numerous principles due to changes of operations and in accounting standards are being investigated; Delineation of general government and public sector from other sectors will be applied; Informal Sector Informal sector and non-observed economy estimates will be improved TurkStat

20 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 20 Main changes and actions to be taken SNA-08 (ESA-2010) will be implemented in a medium or long term in TurkStat. TurkStat plans to implement these changes and publish data in As a result of: –Resource constraints –Data limitations –Methodological constraints TurkStat

21 PRIME MINISTRY REPUBLIC OF TURKEY TURKISH STATISTICAL INSTITUTE TurkStat 21 Thank you... TurkStat


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