Presentation on theme: "GRENADA DEVELOPING A PROGRAMME FOR THE IMPLEMENTATION OF SNA 2008"— Presentation transcript:
1 GRENADA DEVELOPING A PROGRAMME FOR THE IMPLEMENTATION OF SNA 2008 Presented byMargaret FrameECONOMIC DIVISIONCENTRAL STATISTICS OFFICEJANUARY 29, 2013
2 OUTLINE THE MAIN NATIONAL POLICY STATISTICAL REQUIREMENTS NSDSStatistical Data SourcesData DisseminationData StorageSTATISTICAL ACTIONSCurrent PracticeCurrent DevelopmentWAY FORWARD FOR PREPARING A STATEGIC VISION FOR THE CHANGE OVER TO:-SNA 2008ISIC REVISION 4ADAPTED DATA TEMPLATE FOR SHORT TERM ECONOMIC STATISTICS
3 THE MAIN NATIONAL POLICY OF GOVERMNMENT Economic transformation of the Grenadian economyThis means that Grenada must now transition from-a two pillar economy consisting of tourism and agriculture-to a five pillar economy that is more diversified, resilient to external shocks and capable of generating higher employment and income opportunities for its peopleGovernment advanced the transformation agenda by approving a National Investment Promotion Strategy. The five transformational sectors are anchored in this Strategy.
4 The Five Transformational sectors •Education, Health and Wellness and Services• Tourism and Hospitality• Energy Development (renewable and non-renewable)• Agribusiness• Information Communications and Technology.These new drivers of growth are also entrenched in the Poverty Reduction Strategy of Government.
5 Statistical structure The CSO must be position to produce timely, reliable and accurate statistical data to be used for planning and monitoring the social and economic development of Grenada , Carriacou and Petite Martinique, as stated in its mission statement.This means that CSO must delivery efficient and effective economic and social statistics to government, national, regional and international communities, through the improvement and development of statistical programmes that crates to the changing environment.STATISTICAL REQUIREMENTSTATISTICS ENVIRONMENTESTLABLISH National Strategy for the Development of Statistics -NSDSStatistical structureRevision and enforcement of the Statistical actsMemoranda of understandingHuman ResourceInternational standardTrainingAdvocacy – aim at increasing response rateTechnical AssistanceImprovement in the coordination among regional and international organization
6 STATISTICAL REQUIREMENT Cont. 2. STATISTICAL DATA GDP BY THE PRODUCTION APPROCAH ( CURRENT AND CONSTANT)GDP BY EXPENDITURE APPROACH (current and constant)QUARTERLY GDPBALANCE OF PAYMENTS BPM6SUPPLY AND USE TABLESTOURISM STATATILE ACCOUNTSSHORT TERM INDICATORS - HIGH FREQUENCY INDICATORSPRICE STATISTICSPRODUCTION STATISTICSLABOUR MARKET INFORMATIONDEMOGRAPHIC STATISTICSENVIRONMENT STATISTICSCREATIVE INDUSTRYINFORMAL SECTOR SURVEY
7 STATISTICAL REQUIREMENT Cont. 3. DATA SOURCES Business registerBusiness Establishment surveyAdministration data sourcesOther internal surveys done by the office eg price surveys, population census, household expenditure and trade statistics. 4. DATA DISSEMINATIONStatistical publicationGovernment gazetteInternet / ECCB website, regional and international organisationCSO WebsiteOn request.5. DATA STORAGEBoth at the domestic and external level
8 STATISTICAL ACTIONS GROSS DOMESTIC PRODUCT (GDP) 1. GDP by PRODUCTION APPROACHIn 2007, Grenada Central Statistical Office (CSO) embarked on an exercise to rebase its system of National Accounts to reference year (previous year1990)Eastern Caribbean Central Bank (ECCB) & CARTAC provided Technical Assistance in the Rebasing of the National Accounts.THE REVISION PROCESS INCLUDED:Improving the method and procedure in estimating GDP in accordance with the system of national accounts (SNA 1993).Incorporating new and revised data into the estimates – improving coverage 29%Revision of the national accounts classification of industries – ISIC 3.1Both in current and constant prices by industries2. GDP BY EXPENDITURE – CURRENT PRICES – RESIDUAL METHOD3. QUARTERLY GDP INDEX – USE TO REVISE ANNUAL GDP
9 The main sources of data are as follows: Annual National Accounts Survey of EstablishmentsGovernment Estimates of Revenue and ExpenditureAdministrative Data from Government DepartmentsOther data Sources from CSOConsumer Price Index (CPI)Production StatisticsExternal Trade StatisticsBalance of Payments (BOP) SurveysHousehold Income & Expenditure SurveyCensus of Population and HousingLabour force surveyBusiness Register
10 PARTICIPATING in ICP 2011 Round GDP PRICES CURRENT DEVELOPMENTPARTICIPATING in ICP 2011 RoundGDPPRICES2.GDP by Expenditure ApproachTechnical assistance is provided by CARTAC and ECCB in developing the Estimates in both current and constant pricesThe objective is to improve the GDP by expenditure by having an independent method of estimation for private consumption expenditure by applying the basic expenditure headings.COICOPClassification of government by function COFOGGovernment final Consumption – individual & Collective servicesThis will allow consistency with the conceptual framework of the SNATo be completed by December 2013
11 GDP BY EXPENDITURE APPROACH CONSUMPTIONHousehold Final Consumption ExpenditureNPISH Final Consumption ExpenditureGovernment Final Consumption ExpenditureDistribution of FISIM by usersGross Fixed Capital FormationChanges in inventoriesImports and exports of goodsTaxes on Production and ImportsSubsidies
12 SHORT TERM ECONOMIC INDICATORS CURRENTLY PRODUCE INDICATORSMONTHLY / QUARTERLYConsumer Price indexExternal Trade StatisticsFinancial data – Commercial Banks, credit unionAgricultural cropsFish productionQuarry productionTourist ArrivalMotor Vehicle RegistrationSelected Production DataBuilding PermitsWater and electricity production and consumptionNew registered employeesRetail sale index – selected companies - total
13 WAY FORWARD FOR PREPARING A STATEGIC VISION FOR THE CHANGE OVER TO SNA 2008, ISIC REVISION 4 & ADAPTED DATA TEMPLATE FOR SHORT TERM ECONOMIC STATISTICSTo adopt the Caricom SNA implementation planNSDS was launch in October 2012OECS Countries to agree on a phase approachTechnical AssistanceIdentify and agree on concepts to be implemented with timelineGDP by ExpenditureQuarterly GDPImplement BPM 6 - EBOPSRevision of questionnairesBusiness Register - improvementDiscuss on the short term indicators as identify in the template