Transcript Slide 1

ST/ECON/2008/1/5
CARICOM
CARIBBEAN INTEGRATION
SUPPORT PROGRAMME
(CISP)
Result 4: Improved and
Harmonised Economic
Statistics Developed and
Disseminated
CARICOM Economic Statistics Meeting
19 & 20 June 2008 Christ Church, Barbados
Overall Objective
CARICOM
Provide the decision-makers of
CARICOM with the information
necessary to monitor and guide
progress in the establishment and the
strengthening of the CARICOM Single
Market and Economy (CSME)
Achieving the Objective
CARICOM
• Harmonizing the inter-regional
statistical infrastructure;
• Improving statistical programming,
production and dissemination of key
economic statistics; and
• Training staff and using economic
statistics for monitoring of the
Regional Integration Process
Major Results Expected
CARICOM
• Programming and coordination of the
regional and national statistical
systems are strengthened;
• Methods and systems for the
collection, production, processing,
dissemination and exchange of key
economic statistics are improved and
better harmonized; and
CARICOM
Major Results Expected
Cont’d
• The consolidation and the
dissemination of economic statistics
at the regional and national levels
are improved, facilitating the
formulation of policies and decision
making at the regional level.
CARICOM
Focus on Improving Key
Areas of Economic Statistics
1. National Accounts/Short-term
Economic Indicators;
2. Merchandise Trade Statistics; and
3. International Trade in Services/
Investment Statistics.
CARICOM
National Accounts/Short-term
Economic Indicators
1. Reactivation of CARICOM Advisory
Group on National Accounts
(incorporating economic indicators);
2. Collection of information to obtain
baseline understanding of NA Systems
in all Member States on (1) existing
treatment through quality approach and
(2) assessment of sustainable
resources for NA;
CARICOM
National Accounts/Short-term
Economic Indicators cont’d
3.
Development of a regional approach for the
implementation of the 1993 System of
National Accounts (1993 SNA) and
devising of methods of obtaining
harmonized National Accounts estimates;
4.
Conducting of a study on treatment of
National Accounts estimation procedures at
the NSOs of Member States – metadata,
indicators, current and constant prices,
classifications including treatment of the
informal sector in the production of
National Accounts of CARICOM Countries;
CARICOM
National Accounts/Short-term
Economic Indicators cont’d
5. Undertaking and implementation of
quality standards based on the study
on treatment of National Accounts
estimation procedures at the NSOs of
Member States;
6. Programme of training in National
Accounts.
CARICOM
Merchandise Trade
Statistics
1. Improvement of collaboration
between Customs and Statistics;
facilitation of dialogue at national
level (service level agreements,
arrangements on data delivery,
deadlines, controls and data checks);
2. Improvement of data production and
dissemination through the
implementation and use of Eurotrace
for Windows software;
CARICOM
Merchandise Trade
Statistics cont’d
3. Conducting of one workshop preferably
each year for Eurotrace users;
4. Support for the implementation of data
transmission to CARICOM from MS and
in establishing National Quality Reports;
5. Reconciliation study of intra and extra
CARICOM trade.
CARICOM
International Trade in
Services/Investment
Statistics
1. Reformulation of Advisory Group on
International Trade in Services/
Investment Statistics;
2. Refinement, dissemination and
implementation of Common Guidelines
to compile statistics in this area –
sensitization, inter-agency platform,
defining clear approach with timelines,
identification of counterpart staff, level of
detail of services statistics, etc;
CARICOM
International Trade in
Services/Investment
Statistics, cont’d
3. Design and implementation of
common classifications and
questionnaires reflecting details/data
profile, Extended Balance of
Payments in Services (EBOPS),
Foreign Affiliate Trade in Services
(FATS);
CARICOM
International Trade in
Services/Investment
Statistics, cont’d
4. Undertaking of special studies on
intractable services sector/
characteristics (modes of delivery) to
lead to approach to data collection in
this area;
CARICOM
International Trade in
Services/Investment
Statistics, cont’d
5. Implementation of processes for the
building of systems to obtain detailed
and relevant statistics on investment
flows by trading partner (source and
origin country as well as intraregionally and extra-regionally),
industry and type (retained earnings,
equity, etc).
CARICOM
Thank You for Your Attention