Copyright 2010, The World Bank Group. All Rights Reserved. Copyright 2010, The World Bank Group. All Rights Reserved Economic statistics, part 1 Business statistics; core element of economic statistics 1 Business statistics and registers
Copyright 2010, The World Bank Group. All Rights Reserved. Real sector Businesses are often divided into: 2 1 The real sector: businesses producing goods and providing non-financial services 2 The financial sector, businesses providing financial services
Copyright 2010, The World Bank Group. All Rights Reserved. Real sector Business statistics about the real sector are normally compiled by National Statistical Offices Agricultural statistics are often compiled by the Ministry of Agriculture Statistics about the financial sector are usually compiled by central banks 3
Copyright 2010, The World Bank Group. All Rights Reserved. Macroeconomic statistics Macroeconomic statistics include: -National accounts -Balance of payments statistics -Price statistics -International trade statistics -Government finance statistics 4
Copyright 2010, The World Bank Group. All Rights Reserved. Microeconomic statistics General business statistics Special business statistics and data collections 5
Copyright 2010, The World Bank Group. All Rights Reserved. General business statistics General business statistics are one of the cornerstones of national accounts General business statistics focus on measuring value added The aggregate value added of all business sectors is GDP 6
Copyright 2010, The World Bank Group. All Rights Reserved. GDP Gross Domestic Product (GDP) is a single figure representing all production in a given country during a given period It is called domestic because it only includes production within the country’s economic territory The contribution of each economic actor is measured in terms of value added 7
Copyright 2010, The World Bank Group. All Rights Reserved. Production Production is input of labor, capital, goods and services to produce outputs of goods and services Production is carried out by institutional units 8
Copyright 2010, The World Bank Group. All Rights Reserved. Institutional units There are two main types of units that may qualify as institutional units: Persons or groups of persons in the form of households Legal or social entities Businesses may be persons or households, or legal units Government units may also qualify as institutional units 9
Copyright 2010, The World Bank Group. All Rights Reserved. Value added 10 Gross value added is the value of output less the value of intermediate consumption Net value added is the value of output less the values of both intermediate consumption and consumption of fixed capital General business statistics also collect data about formation (investments) and consumption of fixed capital (depreciation) General business statistics measure value added
Copyright 2010, The World Bank Group. All Rights Reserved. Intermediate consumption is the value of the goods and services consumed as inputs by a process of production consists of goods and services used up in the course of production within the accounting period Gross fixed capital formation (investments) is the value of acquisitions less disposals of fixed assets 11
Copyright 2010, The World Bank Group. All Rights Reserved. Intermediate consumption Consumption of fixed capital is the decline, during the course of the accounting period, in the current value of the stock of fixed assets owned and used by a producer as a result of physical deterioration, normal obsolescence or normal accidental damage 12