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28/10/2013 Th Core The C S Sett off Economic E i St Statistics ti ti An Overview Month Year The Core Set of Economic Statistics Core set was adopted by heads of statistical offices in Asia and the Pacific and endorsed byy the ESCAP Commission in 2010 Developed through an intergovernmental process during 2009 and 2010, including multiple expert group meetings The Core set is: • indicative NOT prescriptive • judged and j g to be the minimum set for effective economic analysis y monitoring • should be tailored to individual country needs • needs are determined by information requirements of Government and Non-Government decision makers 2 1 28/10/2013 Description of the core set of economic statistics Domains Keyy statistics within domains • Each key statistic is “core” • Flexibility for specific country needs Characteristics • Frequency • Timeliness - SDDS can be used as a guide but this and other quality aspects covered in metadata that will accompany country specific series. International standards / guidelines for each key statistic 3 Economic domains covered by the core set Prices and costs: consumer price index, wages, exchange rates, PPPs, terms of trade Demand and output: national accounts aggregates (production) (production), productivity measures, trade, informal economy, and short-term indicators for consumer demand and investment Income and wealth: national accounts aggregates (income, savings, wealth), balance of payments, income distribution Money and banking: assets and liabilities of banking sector, interest rates Government: public revenue, expenditure, and debt and lending Labour market: statistics on employment, unemployment, underemployment, and other characteristics, such as dimensions of gender and informal employment Natural resources and the environment: sustainability measures and accounting for natural capital 4 2 28/10/2013 Relationship of the Core Set to the Regional Programme Purpose of the programme is to develop the capacity to produce a range of economic statistics, ie remove the constraints preventing their production. The core set fulfils two roles: • Provides a framework to guide the scope of the programme, d t determine i the th d development l t priorities i iti and d monitor it the th programme outcome. • Provides guidance on the minimum set of economic statistics to be produced. 5 User Needs facilitates production of Core Set of Core Set of Economic Statistics Required institutional settings & capabilities to produce the statistics Capability building initiatives delivers determines The Regional Programme Content informs 6 3 28/10/2013 • SNA08 implementation • agriculture stats. • tourism stats. • etc. User Needs facilitates production of Core Set of Core Set of Economic Statistics Required institutional settings & capabilities to produce the statistics Capability building initiatives delivers determines The Regional Programme Content informs 7 Programme Monitoring Core set provides a proxy indicator to monitor the progress towards t d achieving hi i the th programme outcome t • core set availability, frequency, adherence to international standards and best practice provide the indicators Monitoring based on % of countries achieving core set “signposts” signposts each milestone year (2014 (2014, 2017 2017, 2020) • [ref. Table 3 Implementation Plan] 8 4