Copyright 2010, The World Bank Group. All Rights Reserved. Copyright 2010, The World Bank Group. All...

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

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Business statistics and registers

Copyright 2010, The World Bank Group. All Rights Reserved.

Real sector • Businesses are often divided into:

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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

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Macroeconomic statistics

Macroeconomic statistics include:- National accounts- Balance of payments statistics- Price statistics- International trade statistics- Government finance statistics

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Microeconomic statistics

• General business statistics• Special business statistics and data collections

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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

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GDPGross 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

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ProductionProduction is input of labor, capital, goods and services to produce outputs of goods and services•Production is carried out by institutional units

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Institutional unitsThere 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

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Value added

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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


Intermediate consumptionis the value of the goods and services consumed as inputs by a process of productionconsists 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

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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

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