GCC-Stat Roadmap and Development of Short-term Economic Indicators Ahmed Al Farid ESCWA meeting, February, 2016.

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Presentation transcript:

GCC-Stat Roadmap and Development of Short-term Economic Indicators Ahmed Al Farid ESCWA meeting, February, 2016

Contents GCC-Stat Road Map UN STEI Data template Price and ST indicator project GCC-Stat priorities

GCC-Stat Road Map A medium term strategy for GCC statistical system over 2015 – 2020 Based on Current Status Survey of 2014 and GCC-Stat Strategic Objectives Various projects touch STEIs National Accounts (QNA) Monetary, Financial & BOP Price & STIs External Trade Labour (QLFS)

UN STEI Data template National Accounts Production and turnover Prices Labour market indicators External sector Financial sector General government sector Household sector Non-financial corporations sector Financial market Real Estate market Tendency Indicators Composite Business Cycle indicators Macroeconomic growth and stability Sectoral vulnerabilities and developments Market conditions Economic sentiment

GCC-Stat projects National Accounts Production and turnover Prices Labour market indicators External sector Financial sector General government sector Household sector Non-financial corporations sector Financial market Real Estate market Tendency Indicators Composite Business Cycle indicators Macroeconomic growth and stability Sectoral vulnerabilities and developments Market conditions Economic sentiment Covered by GCC-Stat work plan

Price & ST indicator project Regular dissemination of price indices and short-term indicators. By 2020, develop and produce a Harmonized GCC Index of Consumer Prices as a primary measure of GCC market inflation. Develop and harmonize the national methodologies of Producer Price Indices (PPI). Develop other regional short-term economic indicators, according to agreed common priorities. Develop technical capacity of the GCC Statistical system in this field of statistics.

Agreed common priorities Coherent with UNSD STEI development ‘First cut proposal’ CPI and PPI Real Estate indicators (structural, price, cost, transactions, permits, etc.) Turnover and Production indices Tendency surveys Foreign trade prices

GCC-Stat priorities Joint Committee of Directors of Economic Statistics (NSOs and NCBs) to coordinate development of relevant STEIs traditionally under Financial Market Authorities GCC-Stat happy to work with regional partners in advancing the development, availability and use of STEIs

GCC-Stat priorities Objective for GCC-Stat Align priority areas of STEI development Coordinate capacity building activities for these statistics Compile, disseminate and present regional GCC aggregates Bring data across projects, countries for dissemination Availability and accessibility first Harmonization second