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Economic Statistics in Singapore1 2 National Statistical Website: http://www.singstat.gov.sg/ World Bank Economic Grouping: High-income Population (millions, 2014): 5.5 2 GDP Per Capita (2005 PPP, 2012): 53,358 Coordination Advocacy ▪ Agencies involved in economic statistics: ○ Singapore Department of Statistics ○ Accountant-General’s Department ○ Accounting and Corporate Regulatory Authority ○ Building and Construction Authority ○Economic Development Board ○ International Enterprise Singapore ○ Monetary Authority of Singapore ○ Manpower Research and Statistics Department ○ Singapore Tourism Board ▪ Statistical law protects confidentiality of statistical information ▪ Decentralized statistical system ○ Plans are currently being implemented to improve coordination of production of economic statistics ▪ Publication policies in place and available to users/staff ▪ Contact points publicized for each statistical subject area ▪ User consultations are organized by producers of economic statistics ▪ Awareness of relevance, among users, of official statistics to economic policy making is considered sufficient and there are activities in place to improve upon it International Collaboration ▪ Hosts overseas delegations for sharing and exchanges on statistical issues ▪ Partnered with IMF and with two ASEAN working groups: International Investment Statistics (WGIIS) and Statistics of International Trade in Services (WGSITS) ▪ Participant in International Comparison Programme for calculating purchasing power parities since 2005 Statistical Infrastructure Key Collections/Compilations National Accounts Balance of Payments Labour Force Survey Household Income/Expenditure Survey Enterprise/Establishment Survey Population Census × × Economic Census Agricultural Census Frequency Timeliness Quarterly Quarterly Quarterly Every 5 years Annually Every 10 years N/A N/A 2 weeks 2 months 1 month 15 months 9 months 2 months N/A N/A Standards/Classifications - SNA 1993 (2008 planned) - ISIC Rev. 4 - Singapore’s International Trade Classification rev. 4.1 - COICOP - BoP coherent with BPM6 Quality assessment framework is available and used to monitor the quality of economic statistics outputs Centralized national metadata repository is available and statistical releases are accompanied with metadata Centralized business register is currently used for multiple statistical products Established methods for identifying ‘births’ and ‘deaths’ of businesses IT systems are considered adequate for producing the Core Set of Economic Statistics 1 This national summary was prepared by ESCAP Statistics Division in November, 2013. Results of the Capacity Screening questionnaire were received in November, 2013 from 50 of the 58 member countries who were contacted. Further information on RPES and the Core Set is available here: http://www.unescap.org/officialdocuments/committee-on-statistics/session/2 2 ESCAP Statistical Yearbook for Asia and the Pacific 2014: http://www.unescap.org/resources/statistical-yearbook-asia-and-pacific-2014 NSDS information for developed countries is not included in the national summary. Technical Skills Human resources are considered adequate for producing the Core Set Documentation of internal processes and staff manuals are available Reported frequencies for indicators in the Core Set compared to RPES recommendations Table Legend Meet or Exceed Recommendations ● Below Recommendations Core Indicator Price and Costs Demand and Output Reported Freq. RPES recommendations Consumer price index (CPI) Monthly Quarterly Producer price index (PPI) Monthly/Quarterly Quarterly Unavailable Monthly × External merchandise trade price indices Monthly Monthly Wages / Earnings data Monthly Quarterly Labour costs index / Wage index Quarterly Quarterly GDP (production) nominal and real Quarterly Quarterly GDP (expenditure) nominal and real Quarterly Quarterly Monthly Monthly Quarterly Quarterly Monthly Quarterly Quarterly Quarterly STI – consumer demand Monthly Quarterly STI – fixed investment Monthly Quarterly STI – inventories Annually Quarterly ● Economy structure statistics Annually Every 5 years Productivity Quarterly Annually Integrated national accounts Annually Annually Institutional sector accounts Unavailable Annually × Balance of payments (BOP) Quarterly Quarterly International investment position (IIP) Annually Annually External debt Quarterly Quarterly Income distribution Annually Every 5 years Assets / liabilities of depository corporations Monthly Monthly Broad money and credit aggregates Monthly Monthly Daily Monthly General government operations Monthly Quarterly General government debt Annually Quarterly ● Commodity price index External trade – merchandise External trade – services Short-term indicator (STI) - industry output STI – services output Income and Wealth × Unavailable or No Response Money and Banking Interest rate statistics Government Labour supply and demand Quarterly Annually Labour Market Hours worked Quarterly Quarterly Natural Resources and Environment Natural resources Unavailable Annually × Summary of Responses to all 31 Indicators in the Core Set (comparison of two columns in the table above) Meet or Exceed Recommendations Below Recommendations 26 Unavailable or No Response 2 3
