## Evolution of National Accounts Statistics Compilation Practices Over the Period 2018 to 2021 in 189 Economies

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### I. Introduction and Background
- Initiative began in 2018 with an evaluation of GDP compilation practices in 189 economies; second stocktaking in 2021 covered 206 economies with reference to end of 2020; third round updated in early 2022 with reference to end of 2021.
- Analysis focuses on the 189 economies present in the 2018 collection and four features:
  - (1) vintage of the System of National Accounts (SNA) implemented;
  - (2) time lag between national accounts benchmark years;
  - (3) availability of annual GDP by production (GDP-P) and expenditure (GDP-E);
  - (4) availability of quarterly GDP by production and expenditure.
- GDP by income (GDP-I) was not analyzed because it is rarely used as the headline GDP across economies.
- The practices surveyed are a subset of the IMF Data Quality Assessment Framework (DQAF), which covers prerequisites and five dimensions of data quality: assurances of integrity, methodological soundness, accuracy and reliability, serviceability, and accessibility.

### II. SNA Vintage — adoption and implications
- The current SNA version is the 2008 SNA (published in 2009); a new vintage is expected to be published by 2025.
- Migration status between end-2018 and end-2021:
  - At end of 2021, 129 economies used the 2008 SNA vintage (including ESA 2010), compared to 98 economies at end of 2018.
  - Four economies still using the 1968 SNA at end of 2021.
- Key counts from Table 1:
  - World: 2018 — 1993 SNA: 91; 2008 SNA: 98. 2021 — 1993 SNA: 60; 2008 SNA: 129.
  - Advanced Economies: 2018 — 1993 SNA: 1; 2008 SNA: 36. 2021 — 1993 SNA: 1; 2008 SNA: 36.
  - Emerging and Developing Economies: 2018 — 1993 SNA: 90; 2008 SNA: 62. 2021 — 1993 SNA: 59; 2008 SNA: 93.
- Observation:
  - Use of different SNA vintages complicates international GDP comparisons due to changes in scope (for example, asset boundary changes).

### III. Time Lag Between National Accounts Benchmarks
- Good practice: produce benchmark estimates preferably after every five to ten (5-10) years.
- Changes observed from end-2018 to end-2021:
  - Number of economies with benchmark years within five years increased from 4 (end-2018) to 25 (end-2021).
  - Emerging and Developing Economies still lag: 76 economies had more than 10-year lags between benchmarks at end-2021.
- Key counts from Table 2:
  - World: 2018 — Within 5 Years: 4; 6 to 10 Years: 88; More than 10 Years: 97. 2021 — Within 5 Years: 25; 6 to 10 Years: 88; More than 10 Years: 76.
  - Advanced Economies: 2018 — Within 5 Years: 1; 6 to 10 Years: 34; More than 10 Years: 2. 2021 — Within 5 Years: 8; 6 to 10 Years: 23; More than 10 Years: 6.
  - Emerging and Developing Economies: 2018 — Within 5 Years: 3; 6 to 10 Years: 54; More than 10 Years: 95. 2021 — Within 5 Years: 17; 6 to 10 Years: 65; More than 10 Years: 70.
- Additional details:
  - Of the 25 economies with benchmarks within five years (2021), eight were Advanced Economies and 17 were Emerging and Developing Economies.
  - There were 88 economies with a 6-to-10-year lag in 2021; 23 of these are Advanced Economies.
  - In 2021, economies with more than 10 years lag were concentrated in Sub-Saharan Africa (22), Emerging and Developing Asia (16), and Latin America and the Caribbean (15).

### IV. Annual GDP by Production and Expenditure
- Definitions:
  - GDP-P: production approach (value of output less intermediate consumption plus taxes less subsidies on products).
  - GDP-E: expenditure approach (final consumption plus gross capital formation plus exports less imports).
  - GDP-I: income approach (compensation of employees plus gross operating surplus plus gross mixed incomes plus taxes less subsidies on production and imports).
- Reported changes between end-2018 and end-2021:
  - Annual GDP-E at current prices increased by four economies: from 171 (end-2018) to 175 (end-2021).
  - Number of economies compiling annual GDP-P at current prices remained the same at 187.
  - No change in the number of economies compiling annual GDP-P and GDP-E at constant prices (World: 187 GDP-P; 162 GDP-E).
- Key counts from Table 3:
  - GDP at Current Prices (World): 2018 — Annual GDP-P: 187; Annual GDP-E: 171. 2021 — Annual GDP-P: 187; Annual GDP-E: 175.
  - GDP at Constant Prices (World): 2018 — Annual GDP-P: 187; Annual GDP-E: 162. 2021 — Annual GDP-P: 187; Annual GDP-E: 162.

### V. Quarterly GDP by Production and Expenditure Approaches
- Overall change:
  - Economies compiling quarterly GDP increased from 133 (end-2018) to 144 (end-2021).
  - The 11 additional economies compiling quarterly GDP are Emerging and Developing Economies.
- Quarterly GDP at current prices (Table 4):
  - Quarterly GDP-P increased from 119 (2018) to 137 (2021): increase of 18.
  - Quarterly GDP-E increased from 94 (2018) to 105 (2021): increase of 11.
  - Advanced Economies: Quarterly GDP-P: 34 (2018) and 34 (2021); Quarterly GDP-E: 37 (2018) and 37 (2021).
  - Emerging and Developing Economies: Quarterly GDP-P: 85 (2018) to 103 (2021) — increase of 18; Quarterly GDP-E: 57 (2018) to 68 (2021) — increase of 11.
  - Sub-regional example: Sub-Saharan Africa Quarterly GDP-P at current prices increased by 7 between 2018 and 2021.
- Quarterly GDP at constant prices (Table 4):
  - World: Quarterly GDP-P increased from 132 (2018) to 144 (2021): increase of 12.
  - Quarterly GDP-E increased from 91 (2018) to 99 (2021): increase of 8.
  - Advanced Economies: Quarterly GDP-P and GDP-E unchanged at 37 and 37 respectively.
  - Emerging and Developing Economies: Quarterly GDP-P: 95 (2018) to 107 (2021) — increase of 12; Quarterly GDP-E: 54 (2018) to 62 (2021) — increase of 8.
  - Sub-regional counts provided, with Sub-Saharan Africa showing an increase of 2 in Quarterly GDP-P at constant prices and an increase of 4 in Quarterly GDP-E at constant prices.
- Observations:
  - In both years, more economies compiled quarterly GDP-P at constant prices than at current prices.
  - For quarterly GDP-E, more economies compiled estimates at current prices than at constant prices.
  - Improvements attributed in part to availability and access to high-frequency indicators and administrative data.

### VI. Conclusion and Recommendations
- Significant strides:
  - Many authorities adopted the 2008 SNA to produce consistent and internationally comparable macroeconomic statistics.
- Remaining challenges:
  - In many developing economies, the 2008 SNA had not been fully implemented due to national priorities, laws, and limited availability/access to detailed source data.
  - Migration to the 2008 SNA is often associated with updating benchmark years; infrequent benchmarks delay migration.
  - Emerging and Developing Economies, particularly in Africa, have delayed migration due to infrequent benchmarks.
- Specific observations:
  - Number of economies compiling annual GDP-P at current and constant prices remained the same across the analyzed period.
  - 11 Emerging and Developing Economies indicated they started compiling quarterly GDP in the period under review.
  - Larger numbers of economies in Sub-Saharan Africa and MENA, Afghanistan, and Pakistan did not compile quarterly GDP-P and GDP-E in both current and constant prices in both vintages.
- Recommendations and encouragements:
  - Authorities are encouraged to use platforms like the NSDP apart from their own country websites for dissemination.
  - Data should be published in downloadable formats rather than PDF formats to improve accessibility.
- IMF Statistics Department actions:
  - Will continue to share the database with UNSD, regional organizations, and country authorities to help benchmark national accounts programs.

*IMF WORKING PAPERS Evolution of National Accounts Statistics Compilation Practices Over the Period 2018 to 2021 in 189 Economies*

### References .............................................................................................................

### wpiea2023148-print-pdf - References .............................................................................................................

### I. Introduction and Background
- Initiative began in 2018 with an evaluation of GDP compilation practices in 189 economies; second stocktaking in 2021 covered 206 economies with reference to end of 2020; third round updated in early 2022 with reference to end of 2021.
- Analysis focuses on the 189 economies present in the 2018 collection and four features:
  - (1) vintage of the System of National Accounts (SNA) implemented;
  - (2) time lag between national accounts benchmark years;
  - (3) availability of annual GDP by production (GDP-P) and expenditure (GDP-E);
  - (4) availability of quarterly GDP by production and expenditure.
- GDP by income (GDP-I) was not analyzed because it is rarely used as the headline GDP across economies.
- The practices surveyed are a subset of the IMF Data Quality Assessment Framework (DQAF), which covers prerequisites and five dimensions of data quality: assurances of integrity, methodological soundness, accuracy and reliability, serviceability, and accessibility.

### II. SNA Vintage
- The current SNA version is the 2008 SNA (published in 2009); a new vintage is expected to be published by 2025.
- Migration status between end-2018 and end-2021:
  - At end of 2021, 129 economies used the 2008 SNA vintage (including ESA 2010), compared to 98 economies at end of 2018.
  - Four economies still using the 1968 SNA at end of 2021.
- Table 1 figures (as reported):
  - World: 2018 — 1993 SNA: 91; 2008 SNA: 98. 2021 — 1993 SNA: 60; 2008 SNA: 129.
  - Advanced Economies: 2018 — 1993 SNA: 1; 2008 SNA: 36. 2021 — 1993 SNA: 1; 2008 SNA: 36.
  - Emerging and Developing Economies: 2018 — 1993 SNA: 90; 2008 SNA: 62. 2021 — 1993 SNA: 59; 2008 SNA: 93.
  - Sub-regional breakdowns provided in Table 1 for MENA, Emerging and Developing Europe, Sub-Saharan Africa, Latin America and the Caribbean, Commonwealth of Independent States, and Emerging and Developing Asia.
- Observation: Use of different SNA vintages complicates international GDP comparisons due to changes in scope (for example, asset boundary changes).

### III. Time Lag Between National Accounts Benchmarks
- Good practice: produce benchmark estimates preferably after every five to ten (5-10) years.
- Changes observed from end-2018 to end-2021:
  - Number of economies with benchmark years within five years increased from 4 (end-2018) to 25 (end-2021).
  - Emerging and Developing Economies still lag: 76 economies had more than 10-year lags between benchmarks at end-2021.
- Table 2 figures (as reported):
  - World: 2018 — Within 5 Years: 4; 6 to 10 Years: 88; More than 10 Years: 97. 2021 — Within 5 Years: 25; 6 to 10 Years: 88; More than 10 Years: 76.
  - Advanced Economies: 2018 — Within 5 Years: 1; 6 to 10 Years: 34; More than 10 Years: 2. 2021 — Within 5 Years: 8; 6 to 10 Years: 23; More than 10 Years: 6.
  - Emerging and Developing Economies: 2018 — Within 5 Years: 3; 6 to 10 Years: 54; More than 10 Years: 95. 2021 — Within 5 Years: 17; 6 to 10 Years: 65; More than 10 Years: 70.
  - Sub-regional counts included for MENA, Emerging and Developing Europe, Sub-Saharan Africa, Latin America and the Caribbean, Commonwealth of Independent States, Emerging and Developing Asia.
- Additional details:
  - Of the 25 economies with benchmarks within five years (2021), eight were Advanced Economies and 17 were Emerging and Developing Economies.
  - There were 88 economies with a 6-to-10-year lag in 2021; 23 of these are Advanced Economies.
  - In 2021, economies with more than 10 years lag were concentrated in Sub-Saharan Africa (22), Emerging and Developing Asia (16), and Latin America and the Caribbean (15).

### IV. Annual GDP by Production and Expenditure
- Definitions:
  - GDP-P: production approach (value of output less intermediate consumption plus taxes less subsidies on products).
  - GDP-E: expenditure approach (final consumption plus gross capital formation plus exports less imports).
  - GDP-I: income approach (compensation of employees plus gross operating surplus plus gross mixed incomes plus taxes less subsidies on production and imports).
- Reported changes between end-2018 and end-2021:
  - Annual GDP-E at current prices increased by four economies: from 171 (end-2018) to 175 (end-2021).
  - Number of economies compiling annual GDP-P at current prices remained the same at 187.
  - No change in the number of economies compiling annual GDP-P and GDP-E at constant prices (World: 187 GDP-P; 162 GDP-E).
- Table 3 figures (as reported):
  - GDP at Current Prices (World): 2018 — Annual GDP-P: 187; Annual GDP-E: 171. 2021 — Annual GDP-P: 187; Annual GDP-E: 175.
  - GDP at Constant Prices (World): 2018 — Annual GDP-P: 187; Annual GDP-E: 162. 2021 — Annual GDP-P: 187; Annual GDP-E: 162.
  - Sub-regional counts provided for Advanced Economies and Emerging and Developing Economies and their subgroups.

### V. Quarterly GDP by Production and Expenditure Approaches
- Overall change:
  - Economies compiling quarterly GDP increased from 133 (end-2018) to 144 (end-2021).
  - The 11 additional economies compiling quarterly GDP are Emerging and Developing Economies.
- Quarterly GDP at current prices (Table 4):
  - Quarterly GDP-P increased from 119 (2018) to 137 (2021): increase of 18.
  - Quarterly GDP-E increased from 94 (2018) to 105 (2021): increase of 11.
  - Advanced Economies: Quarterly GDP-P: 34 (2018) and 34 (2021); Quarterly GDP-E: 37 (2018) and 37 (2021).
  - Emerging and Developing Economies: Quarterly GDP-P: 85 (2018) to 103 (2021) — increase of 18; Quarterly GDP-E: 57 (2018) to 68 (2021) — increase of 11.
  - Sub-regional increases noted (e.g., Sub-Saharan Africa Quarterly GDP-P at current prices increased by 7 between 2018 and 2021).
- Quarterly GDP at constant prices (Table 4):
  - World: Quarterly GDP-P increased from 132 (2018) to 144 (2021): increase of 12.
  - Quarterly GDP-E increased from 91 (2018) to 99 (2021): increase of 8.
  - Advanced Economies: Quarterly GDP-P and GDP-E unchanged at 37 and 37 respectively.
  - Emerging and Developing Economies: Quarterly GDP-P: 95 (2018) to 107 (2021) — increase of 12; Quarterly GDP-E: 54 (2018) to 62 (2021) — increase of 8.
  - Sub-regional counts provided, with Sub-Saharan Africa showing an increase of 2 in Quarterly GDP-P at constant prices and an increase of 4 in Quarterly GDP-E at constant prices.
- Observations:
  - In both years, more economies compiled quarterly GDP-P at constant prices than at current prices.
  - For quarterly GDP-E, more economies compiled estimates at current prices than at constant prices.
  - Improvements attributed in part to availability and access to high-frequency indicators and administrative data.

### VI. Conclusion and Recommendations
- Significant strides: many authorities adopted the 2008 SNA to produce consistent and internationally comparable macroeconomic statistics.
- Remaining challenges:
  - In many developing economies, the 2008 SNA had not been fully implemented due to national priorities, laws, and limited availability/access to detailed source data.
  - Migration to the 2008 SNA is often associated with updating benchmark years; infrequent benchmarks delay migration.
  - Emerging and Developing Economies, particularly in Africa, have delayed migration due to infrequent benchmarks.
- Specific observations:
  - Number of economies compiling annual GDP-P at current and constant prices remained the same across the analyzed period.
  - 11 Emerging and Developing Economies indicated they started compiling quarterly GDP in the period under review.
  - Larger numbers of economies in Sub-Saharan Africa and MENA, Afghanistan, and Pakistan did not compile quarterly GDP-P and GDP-E in both current and constant prices in both vintages.
- Recommendations and encouragements:
  - Authorities are encouraged to use platforms like the NSDP apart from their own country websites for dissemination.
  - Data should be published in downloadable formats rather than PDF formats to improve accessibility.
- IMF Statistics Department will continue to share the database with UNSD, regional organizations, and country authorities to help benchmark national accounts programs.

*IMF WORKING PAPERS Evolution of National Accounts Statistics Compilation Practices Over the Period 2018 to 2021 in 189 Economies*

### References

### References

### Cited working papers and reports
- Anthony Silungwe, Andrew Bear, Vanda Guerreiro, 2022. “ 2020 Global Stocktaking of National Accounts Statistics: Availability for Policy and Surveillance” IMF Working Paper No. 22/29.
- Anthony Silungwe, August 2020. “Special Series on COVID-19; Benchmarking and Rebasing National Accounts.”
- Dippelsman, Robert, Venkat Joshua, and Eric Métreau, 2016. “Fixed Base Year vs. Chain Linking in National Accounts: Experience of Sub-Saharan African Countries.” IMF Working Paper No. 16/133.
- Francien Berry, Massimiliano Iommi, Michael Stanger, Louis Venter, 2018. “The Status of GDP Compilation Practices in 189 Economies and the Relevance for Policy Analysis” IMF Working Paper No. 18/37.
- Report by the United Nations Statistics Division, 2009. “The 2008 SNA Implementation; Twenty Second Meeting of the IMF Committee on Balance of Payments Statistics” Shanghai, China, P.R.
- Van de Ven, Peter, 2015. "New standards for compiling national accounts: what’s the impact on GDP and other macro-economic indicators?" OECD Statistics Brief, February: No. 20.

### Standards and multi-agency publications
- European Commission, IMF, OECD, UN, World Bank, 2009. “System of National Accounts, 2008” New York: United Nations.

*Evolution of National Accounts Statistics Compilation Practices Over the Period 2018 to 2021 in 189 Economies Working Paper No. WP/2023/148*

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_Source: https://www.imf.org/-/media/files/publications/wp/2023/english/wpiea2023148-print-pdf.pdf_