A technical assistance mission was undertaken by the Real Sector Statistics Advisor in the Caribbean Regional Technical Assistance Centre to Saint Lucia to provide advice to the Central Statistics Office (CSO) on compiling rebased gross domestic product estimates. The CSO is responding to the needs of the Ministry of Finance for more robust and timely national accounts statistics. All the Gross domestic product by economic activity (GDP-P) compilation workbooks have now been redeveloped and revised current and constant 2018 price quarterly and annual estimates have been compiled up to Q3 2019. The incorporation of revised data on tourist expenditure for 2000 onward have also resulted in revisions to the GDP-P current rice estimates and real growth rates. The revised annual and quarterly GDP-P estimates were assessed, and several methodological improvements were implemented. Improvements were made to the constant price estimates by reviewing and replacing weaker volume indicators. Training on the methodological changes and compiling the rebased estimates has been provided. The training on methodological improvements included the use of the more representative employment indicators and various price indices discussed above; back-casting and linking techniques for the current price estimates and linking the constant 2006 price series with the constant 2018 price series.
subsidies (-2 percent).
4. Revised current and constant 2018 price quarterly and annual GDP-Pestimates have been compiled up to Q3 2019 . The revised benchmark SUT estimates and the latest input data for Q3 2019 were incorporated into the redeveloped compilation workbooks.
5. These revised annual and quarterly GDP-Pestimates at current and constant prices were reviewed during the mission and methodological improvements were implemented . Improvements were made in recompiling the current price estimates back to 2000 for most industries, although a few could only be
I. Summary Supply and Use Tables
II. Contributors to the Increase in the GDP Level
III. GDP-P Compilation Methodology
IV. Revised Annual GDP-PEstimates
System of National Accounts 2008
Caribbean Regional Technical Assistance Centre
Consumption of fixed capital
Consumer price index
Central Statistics Office
Eastern Caribbean Central Bank
Financial intermediation services indirectly measured
This Technical Assistance report on Kingdom of the Netherlands—Aruba focuses on the mission undertaken to assist the Central Bureau of Statistics (CBS) in assessing and improving the national accounts. The CBS plans to recompile and disseminate the revised annual current price estimates by January 2020, and improved constant 2013 price estimates by June 2020. The mission and the Director of the CBS met with the Minister of Finance, Economic Affairs and Culture to discuss the rebased estimates and the 2020–2025 action plan. The budget, staffing, and data coordination plans of the CBS were also discussed. The Minister agreed to establishing formal data coordination agreements between the CBS and other government institutions, and on the need for the legislation and related reporting procedures to be strengthened. She also agreed to the 2020–2025 action plan to implement the Special Data Dissemination Standard for real-sector statistics, the need for benchmark and regular surveys, and to incrementally increasing the CBS budget and staffing, subject to Cabinet approval.
B. Finalization of the SUT Benchmark Estimates
C. Compilation of the Revised GDP Estimates
DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS
A. Officials Met During the Mission
1. Priority Recommendations
2. Use of Financial Statements in Compiling the GDP-PEstimates
I. Action Plan 2020–2025
II. Project Timetable 2020–2025
III. Data Quality Assessment Summary
IV. Improving Data Sources and Indicators
V. Improving the GDP-P Methodology
VI. Improving the GDP-E Methodology
This Technical Assistance Report discusses measures required to improve the national accounts of Suriname, including consistency with the System of National Accounts 2008. The General Bureau of Statistics (GBS) is expected to implement the recommendations of the IMF mission progressively over a five-year period. Given the staff time wasted on data entry and potential transcription errors, the GBS should give high priority to requesting the Ministry of Finance to provide the Government accounts data in Excel format for 2015 onward. With the support of the Finance Minister, the GBS also needs to implement a formal agreement with the Tax Department to share tax registration data, company income tax returns and sales tax returns.
robust national accounts. It has compiled the SUT for 2013 and used the SUT estimates to produce annual GDP-E and GDP-P current price estimates for 2013 to 2017, as well as internal preliminary estimates for 2018 based on ISIC Revision 4. In addition, the CBS has started to develop quarterly GDP-Pestimates. However, ongoing production of quarterly GDP-P requires additional staff and resources. In finalizing the supply and use tables (SUT) for 2013, the CBS will also implement the most relevant System of National Accounts 2008 (2008 SNA) changes. Use of the SUT
International Monetary Fund. Western Hemisphere Dept.
countries in expanding the range and improving the quality of their annual national accounts . A comprehensive review of the national accounts was completed for Anguilla; with a detailed action plan developed to implement improvements. For St. Lucia, several methodological improvements were implemented and revised annual GDP by economic activity (GDP-P) estimates have been compiled for 2006–2015. Improved methodologies to be used to compile GDP by expenditure (GDP-E) estimates have been developed for Grenada and St. Kitts and Nevis; and improved annual GDP-E estimates
products in constant prices. The mission provided broad methodological advice on developing quarterly GDP-Pestimates, even though any development is subject to additional budget.
In addition, the mission provided methodological advice on compiling the annual GDP-E estimates. This advice included using the benchmark-indicator approach to develop independent estimates of household final consumption expenditure; using the commodity flow approach at the detailed product level for gross fixed capital formation and changes in inventories; adding biological assets, research
coordination activities require additional financing; with the TA being provided by Statistics Canada. TA is being provided by Statistics Canada on redeveloping the CSO website, which is expected to be launched in December 2018. The CSO will then be able to publicly release the quarterly GDP-Pestimates that it has been disseminating to key data users via email.
Restructure the CSO, clarify roles and responsibilities, increase delegation, and develop detailed annual work programs.
Fill the three vacant positions in the NAS and increase CSO