1. CARICOM

2. Status of Regional National Accounts Database
CARICOM
Status of Regional National Accounts Database
Joint collection of National Accounts statistics to reduce response burden and ensure the same datasets at both organisations.
NAQ designed by the UNSD in cooperation with the UN Regional Commissions and based on the 1993 SNA.

3. Status of Regional National Accounts Database
CARICOM
Status of Regional National Accounts Database
NAQ divided into five parts:
Main Aggregates
Domestic Production by Industries
Classifications of Expenditure According to Purpose
Integrated Economic Accounts
Cross Classification of Gross Value Added by Industries and Institutional Sectors

4. Status of Regional National Accounts Database
CARICOM
Status of Regional National Accounts Database
Member States are requested to submit the following data to both the Secretariat and UNSD:
GDP by expenditure in current and constant prices
Value added by industries in current and constant Prices
Output, gross value added and fixed assets by industries
National Aggregates

5. Status of Regional National Accounts Database
CARICOM
Status of Regional National Accounts Database
If possible, Member States should also submit:
Relations among product, income, savings and net lending
Rest of the World Account

6. Status of Regional National Accounts Database
CARICOM
Status of Regional National Accounts Database
8 Countries submitted NAQs
6 Member States, 2 Associate Members
10 countries outstanding
4 countries met the deadline for submission
Years for which data submitted:
2009: 4 countries 2008: 3 countries 2007: 1 country
5 countries reported having implemented 1993 SNA

7. Status of Regional National Accounts Database
CARICOM
Status of Regional National Accounts Database 7

8. Main Challenges in the Submission of Data
CARICOM
Main Challenges in the Submission of Data
Table Name
Number of Countries Submitting Table
2008 (out of 12 Countries)
2009 (out of 8 Countries)
Rest of the World Account 1* 2*
GDP by expenditure in constant prices 2 1
Output, gross value added and fixed assets by industries 5* 4*
Value added by industries in constant prices 9 8
National Aggregates 5
Value added by industries in current prices 10
GDP by expenditure in current prices 11 6

9. Main Challenges in the Submission of Data
CARICOM
Main Challenges in the Submission of Data
Inability of countries to provide the complete set of Minimum Required Data Set (MRDS) tables.
Only 4 Member States attempted to complete 5 or more tables
The problematic tables seem to be:
Rest of the World Account;
GDP by Expenditure in constant prices; and
Output, gross value added and fixed assets by industries.

10. Main Challenges in the Submission of Data
CARICOM
Main Challenges in the Submission of Data
Partial updates/revisions/missing data
Discrepancies between totals and the sum of the components.
Brief Methodology notes 10

11. Production of Quarterly GDP.
CARICOM
Production of Quarterly GDP.
4 countries produce Quarterly GDP:
Belize
Dominica
Jamaica
Bermuda
Only Jamaica produces QGDP in both absolute values and growth rates in current and constant prices
Data from 2 of these countries are available to the public

12. Main Challenges in the Production of Quarterly GDP.
CARICOM
Main Challenges in the Production of Quarterly GDP.
Lack of expertise
Data collection issues
No system for estimation
Lack of capacity
Human resource constraints.

13. Other Areas of National Accounts
CARICOM
Other Areas of National Accounts
Supply and Use Tables (SUT)
4 MS were at different stages of preparation
Countries have benefited from technical assistance
Tourism Satellite Accounts
Developmental work undertaken in 4 MS
Technical Assistance will continue under the CISP through the work of a consultant.
Future work will be linked to the Basic Data Production Project

14. CARICOM ECONOMIC STATISTICS ACTION PLAN (CESAP) 2011-2015
Reviewed by the Technical Working Group on National Accounts/Short-term Economic Indicators and International Trade in Services/Investment Statistics

15. Develop regional standards and classifications
CARICOM
Preparatory work for ISIC Rev. 4 implementation and survey redesign and improvement
Develop regional standards and classifications
Integrate survey approaches and instruments
Coordinate with the Population Census team to ensure that the needs for economic statistics are being met

16. Use regional best practices to review the Business Register
CARICOM
Preparatory work for ISIC 4 implementation and survey redesign and improvement Cont.
Use regional best practices to review the Business Register
Review and evaluate potential data sources for economic statistics
Update inventory of surveys and suitable administrative record sources.

17. CARICOM
Preparatory work for ISIC 4 implementation and survey redesign and improvement Cont.
Establish a data collection and analysis programme for economic statistics distinct from the work on the national accounts.
Review and adopt integrated questionnaires for the “formal” sector surveys.
Based on ISIC 4 structures and
Incorporating product information classified according to the CPC
Design and institute appropriate data transmission and update formats and procedures

18. CARICOM
Document and consolidate estimates for the pre-2010 period and develop and update metadata
Prepare documentation and metadata for the revised and rebased national accounts estimates for the pre-2010 period.
Integrate the submissions from member and associate member states into the CARICOM statistical data base and develop user-friendly access to the results.
Document existing tourism statistics estimates and prepare inventory and metadata.

19. Develop price index/deflator
CARICOM
Improve the production of National Accounts continuing the development work commenced in previous period
Develop price index/deflator
Develop Quarterly National Accounts in Members States not currently producing such
Complete work on SUT estimation where started

20. Analyse and evaluate new data
CARICOM
Analyse and evaluate new data
The CSOs will be required to:
Analyse and evaluate
data from population census to be used in economic statistics
new data from administrative records
new data from other sources

21. Monitor progress and adherence to time frame
CARICOM
Monitor progress and adherence to time frame
Institute a program of reporting and monitoring that feeds through the TWG and Secretariat to the SCCS.
Institute a mechanism to ensure that steps are taken to rectify any problems or bottlenecks whenever possible and/or amend schedules accordingly.

22. CARICOM ECONOMIC STATISTICS ACTION PLAN (CESAP) 2013-2015
Continue the Activities started under the work programme
Complete revision
Of Business Register
on establishment survey frames
Complete and disseminate
TSA
SUT (to be used as benchmark for national accounts)
Continue with price index development
Develop and implement a system of data quality assessment for economic statistics with in each country in the region

23. CARICOM
Thank You