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Macroeconomic Statistics

These courses, presented by the IMF Statistics Department, cover national accounts, prices, money and financial sector, balance of payments, financial soundness, and government finance.

This course, presented by the Statistics Department, covers theoretical and practical issues related to the compilation of accumulation accounts (capital accounts, financial accounts, other changes in volume of assets accounts, and revaluation accounts) and balance sheets according to institutional sectors. The course is based on the conceptual framework of the System of National Accounts, 2008 (2008 SNA). The aim of the course is to provide participants with the necessary skills to compile the sectoral accumulation accounts and the balance sheets. The course consists of lectures covering conceptual and methodological issues as well as workshops sessions on practical compilation issues. The lectures provide a thorough review of the methodological framework, concepts, and definitions relating to sectoral accumulation accounts and balance sheets, examine potential data sources for their compilation, and illustrate possible compilation techniques and procedures. The course also provides a forum for participants to share country practices and experiences relating to the compilation of sectoral accumulation accounts and balance sheets.

This online course, presented by the Statistics Department, reviews the basic skills, concepts, and principles required to compile and disseminate macroeconomic and financial statistics. The course covers topics such as residence, institutional units, institutional sectors, accounting rules, financial instruments, stocks and flows, the IMF’s Data Standards Initiatives, and presents the basic macroeconomic linkages among these statistics.

This course, presented by the Statistics Department, provides practical advice on compiling and disseminating the international accounts (balance of payments and IIP) statistics based on the BPM6 Compilation Guide (the Guide). The purpose of the course is to demonstrate how the conceptual framework described in the BPM6 may be translated into practice. The course consists of a series of lectures, workshops, and discussions on methods for compiling international accounts. They focus on compilation practices, including data sources that international accounts can draw on, as well as complex methodological and compilation issues related to specific balance of payments and IIP components and other issues that cut across accounts. Participants have the opportunity to discuss compilation challenges they have encountered and gain insights into the analytical uses of the international accounts.

The management of natural resources is an important function of government, and statistics are needed to support analysis of the macroeconomic impacts of natural resources and the formulation of an appropriate macroeconomic policy mix. Fluctuations in government revenues, exports, employment, and national income caused by changes in the output and prices of natural resources have major macroeconomic and fiscal implications. Sound policymaking when such risks are present requires reliable, timely, and complete coverage of relevant activity in the national accounts and analytical measures to assess the macroeconomic effects. This regional workshop, presented by the IMF Statistics Department, aims to ensure national accounts data are compiled with comprehensive and technically sound data for natural resources. It will also support compilation of the National Accounts Template Tables specified by the Guide to Analyze Natural Resources in the National Accounts.

This course, presented by the Statistics Department, provides training on the methodology for compiling and disseminating CBPS, including the integrated IIP and memoranda and supplementary position data items following BPM6; EDS, including currency composition, remaining maturity, and debt service schedule; the CPIS, including sectoral data; and the CDIS. The course consists of a series of lectures, discussions, and practical exercises. Lectures and class discussions focus on general concepts and compilation practices, while exercises provide participants with an opportunity to put knowledge learned into practice. Participants have the opportunity to discuss problems encountered in their compilation work and gain insights into the analytical uses of the international accounts. The course is based on the Balance of Payments and International Investment Position Manual, sixth edition (BPM6), the 2013 External Debt Statistics: Guide for Compilers and Users, the 2010 CPIS Guide, and the 2015 CDIS Guide.

This course, presented by the Statistics Department, acquaints participants with the fundamentals of compiling and using financial soundness indicators (FSIs) in support of macroprudential analysis. The course covers methodological and technical issues in the construction of FSIs, as discussed in the 2019 Financial Soundness Indicators Compilation Guide (2019 FSI Guide). The course includes lectures and workshops on:

  • institutional sectors; 
  • consolidation bases and adjustments for FSIs;
  • regulatory framework for deposit takers; 
  • accounting principles and sectoral financial statements for FSIs; 
  • core and additional FSIs for deposit takers, other financial corporations, and other sectors; 
  • financial sector surveillance and FSIs;
  • macroprudential analysis and FSIs.

Lectures are complemented by hands-on exercises, where participants work in groups to resolve practical questions of classification of financial institutional units, construction of different reporting populations for FSIs according to different consolidation bases, calculation of Basel solvency and liquidity ratios, production of sectoral financial statements and FSIs for deposit takers and the use of FSIs for financial sector surveillance. The course introduces templates for use in the regular reporting of FSI data and metadata to the IMF and provides guidance in accessing and using the IMF database for FSI data and metadata. 

This course offers, in the first three days, an opportunity to learn the concepts, principles, sources, methods, accounting rules, and general framework used to compile GFS and PSDS. The fundamental features of GFS and PSDS: institutional units, sectorization, basis of reporting, transactions, other economic flows, accounts (revenue, expense, expenditure, assets, liabilities), statements, balance sheets, etc. will be covered. The course is taught using international standards presented in the Government Finance Statistics Manual 2014 (GFSM 2014) and the Public Sector Debt Statistics: Guide for Compilers and Users 2011 (PSDS Guide). Participants, especially GFS compilers, will be asked to come to the course prepared to discuss the current status of GFS/PSDS development, their views on capacity development requirements in their country. Articulating a needs assessment for each participating country will be a primary task on the fourth day of the course. To the extent possible, the course will feature applied components that are based on the South Asia experience.  

This course, presented by the Statistics Department, focuses on both the conceptual framework of government finance statistics (GFS) as presented in the IMF’s Government Finance Statistics Manual 2014 (GFSM 2014) and on practical aspects of data compilation. Basic concepts and definitions, accounting principles, and detailed classifications are dealt with in the context of the GFSM 2014, which is harmonized with the system of national accounts. The course examines the GFS framework, as well as its coverage and accounting rules (including accrual accounting), classifications, balance sheets and debt, and the sources and methods used for compiling GFS. Lastly, the course discusses the dissemination of GFS and its uses in fiscal policymaking and analyses.

This course, presented by the IMF Statistics Department, focuses on both the conceptual framework of government finance statistics (GFS) as presented in the IMF’s Government Finance Statistics Manual 2014 (GFSM 2014, the update of the 2001 edition), and on practical aspects of data compilation. Basic concepts, accounting principles, and detailed classifications are dealt with in the context of the new methodology, which is harmonized with the system of national accounts. The course examines GFS coverage and accounting rules (including accrual accounting), valuation, classification, debt, balance sheets, and the sources and methods used for compiling the statistics. It also deals with reporting data to the IMF. Central to the course is a series of case studies.

This course, presented by the Statistics Department, focuses on the conceptual framework of government finance statistics (GFS) as presented in the Government Finance Statistics Manual 2014 (GFSM 2014), with an emphasis on new concepts introduced in GFSM 2014. The course requires that participants are familiar with the basic GFS framework and classification system. Emphasizing the integrated GFS framework, the course addresses complex cross-cutting GFS issues, such as social protection, government employee pension liabilities, standardized guarantee schemes, contracts, leases, licenses, public-private partnerships, and public sector balance sheets. It also examines coverage of the public sector, giving special attention to borderline and complex cases. The course discusses internal and intersectoral data consistency, coordination between data-producing agencies, as well as data presentation and communication with users. The format is lectures and discussions.

This course, presented by the IMF Statistics Department, deals with identification and assessment of elementary indicators and techniques for combining them into a single index of economic activity to track national trends. Flash estimates or indexes of economic activity bring together a range of elementary indicators to give timely general measures of economic activity. These measures give policy makers useful information that complements annual and quarterly GDP estimates, which are more comprehensive but usually only available after substantial lags, and provide a more comprehensive picture than individual monthly and quarterly indicators, which are up-to-the-minute but reflect just a portion of the total economy).

This course is for actual or potential compilers of short-term indicators in central banks and statistical offices and for those who collect data for monthly indicators. Participants are expected to work with their own monthly and quarterly time series during the course. These indicators will be used in the practical session as the basis for experimental estimates.

This course, presented by the Statistics Department, is intended to provide a thorough understanding of underlying international trade in goods and services statistics. It offers practical advice on data sources and techniques for compiling these statistics. The course is mainly based on the BPM6 Compilation Guide and the Manual on Statistics of International Trade in Services 2010 Compilers Guide (MSITS 2010 CG). The course consists of a series of lectures, workshops, and plenary discussions on country practices that cover concepts, sources, and methods for compiling statistics associated with international trade in goods and services. It also includes plenary discussions on country practices. Recognizing the challenges in compiling statistics for certain services categories, such as manufacturing and merchanting, insurance, financial services, and construction, the course emphasizes specific aspects of their treatment and how they are recorded in the balance of payments. Participants have the opportunity to discuss compilation problems they have encountered and gain insights into the analytical uses of statistics on the international trade in goods and services.

This course, presented by the Statistics Department, introduces the fundamentals of compiling monetary statistics, with special attention to other financial corporations (OFCs). It also gives an overview of financial statistics and national accounts. The course material is based on the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). Although the course summarizes the main principles underlying the compilation of monetary statistics, it assumes participants already understand these principles (e.g., having participated in the MFS-I course). The core of the course deals with characteristics of various OFCs (insurance corporations, pension funds, non-MMF investment funds, etc.), their typical balance sheet structure, and their role in the financial sector. The course also covers some aspects of financial statistics, dealing with financial flows and stocks of all sectors of the domestic economy and their interactions with the rest of the world; the balance sheet approach to vulnerability analysis; and the relationships between monetary, balance of payments, government finance, and national accounts statistics. The course consists of lectures and case studies to familiarize participants with practical aspects of compiling monetary statistics for OFCs and the basic principles underlying the compilation of national accounts. At the end of the course, participants are expected to make a short presentation on monetary statistics compilation issues in their own countries.

This course, presented by the Statistics Department, prepares participants to compile monetary statistics covering the central bank (CB) and other depository corporations (ODCs) in accordance with international standards. The course materials are based on the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The course discusses the principles of residency and sectorization of institutional units, the characteristics and types of financial instruments, valuation principles, and other accounting issues that are relevant to the compilation of monetary statistics. Participants also become familiar with the defining characteristics of depository corporations (DCs), notably their role as money issuers, and with the main principles on which analysis of monetary and credit aggregates is based. The course consists of lectures, workshops, and case studies dealing with practical aspects of compiling monetary statistics, especially the use of financial statements for filling out standardized report forms (SRFs 1SR and 2SR) for the CB and ODCs, and the derivation of the monetary survey for the CB, ODCs, and the depository corporations sector. At the end of the course, participants are expected to make a short presentation on monetary statistics compilation issues in their own countries.

This course, presented by the Statistics Department, covers theoretical and practical aspects in the compilation of national accounts statistics based on the conceptual framework of the System of National Accounts 2008 (2008 SNA). The course consists of lectures covering methodological and compilation issues of the 2008 SNA and workshops consisting of practical exercises in compiling the accounts. The main aim of the course is to train participants in the compilation of annual gross domestic product both at current prices and in volume terms using the production and expenditure approaches, in support of better policy-making and surveillance. The course starts with an overview of the system of national accounts, presenting the sequence of accounts for transactions and other flows as well as balance sheets, with a focus on the framework of the 2008 SNA. It covers the main concepts involving transactions, other economic flows, stocks, institutional units, classifications, and main macroeconomic aggregates measured by the system. The main lectures and workshops include:

  • sessions on the production account covering the definition and measurement of output, intermediate consumption, and value added; valuation issues; and the treatment of particular industries; 
  • source data and issues in the compilation of GDP by production and expenditure approaches;
  • deflators and derivation of volume measures of GDP; and 
  • specific issues related to goods and services transactions, including supply and use framework, inventory valuation adjustment, consumption of fixed capital, non-observed and informal economy, global supply chains, and the digital economy.

Emphasis is also placed on sharing country experiences among the participants.

This course, presented by the Statistics Department, is intended to broaden participants’ understanding of the concepts and methods of compiling CPIs, PPIs, and XMPIs. It provides an overview of the index number theory and its practical implications in terms of choosing the index number formula at lower and higher levels of aggregation. The course also covers methods for sampling and collecting data from outlets and establishments. New and emerging data sources as well as new collection technologies are discussed. Frontier issues including how to better measure the digital economy are included. The role of price indexes as deflators in the 2008 SNA is analyzed, as are related principles of scope, coverage, and valuation. There are sessions on the following topics:

  • methods for handling temporarily and permanently missing items; 
  • adjusting prices for quality changes, including new products, establishments, and outlets; 
  • chaining and linking indexes with updated weighting structures; and
  • meeting data users’ needs to ensure relevancy.

The course follows the principles and recommended practices in the CPI (2004), PPI (2004), and XMPI (2009) manuals.

This course, presented by the Statistics Department, covers the fundamentals needed to compile and disseminate comprehensive public sector debt statistics (PSDS) that are useful for policy- and decision-makers, as well as other users. The course introduces the conceptual statistical framework for PSDS—as presented in the Public Sector Debt Statistics: Guide for Compilers and Users—in the context of the government finance statistics (GFS) framework, which is harmonized with other macroeconomic statistical frameworks. Basic concepts, definitions, and classifications are covered, along with the principal accounting rules (including valuation and consolidation) that are relevant for PSDS compilation. The course discusses the recommended the instrument and institutional coverage for compiling comprehensive, internationally comparable PSDS, and how to record contingent liabilities such as government guarantees. It also deals with the impact on PSDS of some debt-related issues such as debt assumption, debt forgiveness, on-lending, financial leases, and financial bailouts. Important PSDS compilation considerations—including what PSDS to compile and disseminate—and the IMF’s guidelines and standards on disseminating PSDS are also covered. The course also presents possible uses of PSDS, including debt sustainability analyses (DSA), and fiscal risk and vulnerability analyses. 

This course, presented by the Statistics Department, offers an opportunity for thorough understanding of concepts, sources of data, and compilation techniques for producing quarterly national accounts statistics. The course is based on the IMF Quarterly National Accounts Manual (2017 Edition) and oriented to national accounts compilers from countries that are improving, developing, or planning to develop quarterly national accounts (QNA). The course covers both theoretical and practical compilation issues, specifically the following main topics: 

  • the scope and role of QNA;
  • data sources for compiling quarterly GDP estimates (mainly using production and expenditure approaches);
  • editing procedures and dealing with indicators;
  • benchmarking techniques for combining quarterly indicators with annual estimates;
  • seasonal adjustments;
  • price and volume measures;
  • chain-linking techniques for compiling QNA time series;
  • early estimates of quarterly GDP;
  • other specific QNA issues; and
  • revision policy and dissemination practices.

The course consists of lectures, workshops, and small group discussions.

This course, presented by the Statistics Department, reviews data sources and methods for compiling RPPIs and outlines strategic issues for country-specific application. Emphasis is given to the importance of evaluating alternative data sources for compiling RPPIs in terms of coverage, timeliness, richness in terms of supporting a quality-mix methodology, suitability of a price measure, and weighting. Trade-offs involved in selecting data sources are considered, as are strategies for longer-run development of data sources. The methodological component of the course emphasizes the quality-mix problem: a change in the mix of properties transacted each period can bias measures of change in average prices. Mix-adjustment by stratification and hedonic regression are the main methods used to deal with this issue and interactive workshops deal with these topics. The course also highlights how data source and methodological issues are intertwined and follows the principles of the 2013 Handbook on RPPIs published by Eurostat, International Labor Organization (ILO), IMF, Organization for Economic Co-operation and Development (OECD), United Nations Economic Commission for Europe (UNECE), and the World Bank.

This course, presented by the Statistics Department, familiarizes participants with the methodology recommended by the Handbook on Securities Statistics, a joint undertaking of the IMF, the Bank for International Settlements, and the European Central Bank, published in May 2015. The course covers definition and features of securities, securitization, and related operation; valuation and recording of securities; classification schemes and presentation tables for securities; and security-by-security databases. A practical exercise on valuation and recording of different types of debt securities complements the lectures.

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