Considerations for future revisions of SNA Statistics Denmark High Level Forum for the Long-Term Development of the SNA 17-18 November 2008 Session 4

Organization of the introduction SNA - the most important international statistical standard National Accounts - a part of a statistical system National Accounts – close to observable facts Need for stability in international standards Lessons learnt from the update Proposals for future revisions

SNA – the most important international statistical standard Important macroeconomic measure Used by experts and the public Relevant to users information on many aspects consistent time series international comparability easy to use Multipurpose dataset growth economics business cycle analysis structural analysis economic welfare Stable over time

National Accounts – part of a system SNA – principles is reflected in surveys National Accounts – a building bloc of a coherent system of statistics from production from users Use the strength of each kind of statistics Satellite accounts a solution for special needs welfare, sustainable GDP, productivity in public sector

National Accounts – close to facts Minimize the number of imputations leave that to users with particular needs Minimize the importance of modelling when used keep the importance of the variable low Minimize assumptions in conflict with quality principles for official statistics Keep it simple

Need for stability in international standards Confusion Long implementation period Many users against data revisions Expensive to make changes Consider benefits and cost

Lessons learnt from the update World-wide involvement Clear scope (44 issues) Contemporary revision of BOP and public finance Too short time to absorb the many country comments Clear scope limited the process Too soon after SNA93

Proposals for future revisions No continuous updating Stability – 25 years between revisions Procedure and governance for the process laid down up front Recommendations for the implementation Close cooperation with other statistical areas NA is a core of a broader system of statistics