COMPILATION OF QUARTERLY NATIONAL ACCOUNTS BOTSWANA BY Lekoko
COMPILATION OF QUARTERLY NATIONAL ACCOUNTS BOTSWANA BY Lekoko Simako CONTENTS
Background Compilation Framework Classifications GDP by production approach Data Sources by Economic Activity
Revisions Challenges Way Forward Background QNA adopt the same principles, definitions, and structure as the annual national accounts (ANA). In the initial stage of implementation, only estimates of gross domestic product (GDP) by
production side can be derived. Extensions can be made as the use of the system becomes more established Contd. Quarterly accounts have to be produced in a very short period of time Quarterly National Accounts are published 90 days after reference quarter. They cannot be as comprehensive as annual
accounts with full articulation of institutional sectors. Background Rely on roughly estimated data and therefore need to be more frequently revised as more reliable data come into streams Benchmark QNA to annual accounts Quarterly account data needs to be seasonally adjusted
Compilation Framework System of National Accounts (SNA) is used as a framework (1993) SNA designed to apply to countries at any stage of development. Crucial to understand the principles of the SNA and then apply them in light of local circumstances. IMF Quarterly National Accounts Manual
Classifications The SNA uses several classifications International Standard Industrial Classification of All Economic Activities (ISIC) is the international reference classification for productive activities Classification of individual Consumption According to Purpose (COICOP)
Classification of the function of Government (COFOG) HS: Foreign Trade Production approach GDP by the production approach is assumed more reliable It is also called the output approach, measures GDP as the difference between the value of output less the value of goods and services
used in producing these outputs during an accounting period Main sources from the Statistical Office Short-term surveys by economic activity Sales/Turnover (output) and on prices Consumer prices Production prices Export and import prices
Main administrative sources Tax information Government data on revenues and expenditures Financial intermediation and insurance companies Information from large corporations (Mining, Water, Electricity, Communications,
Transportation etc Exports and Imports of goods and services Sources by Activity: AGRICULTURE Quarterly indicators: values/quantities Ministry of agriculture - Actual harvest data (crops, Horticulture) -Forecasts, especially for most recent quarters Surveys (farmers, marketers) Marketing organizations (BAMB)
Livestock population Animal slaughter statistics MINING
Quarterly indicators: values/quantities Quarterly sales and inventory figures Administrative data (production statistics) Exports data PPI components/specific purpose price indices MANUFACTURING Quarterly indicators: values/quantities Surveys:
Quantity data Sales figures VAT data (on sales) Export data (eg. Meat products, textiles, polished diamonds etc..) PPI components Water and Electricity Quarterly indicators: values/quantities
Quarterly sales figures Admin records Physical quantity from large utility companies or authorities Electricity generation/consumption water supplied Consumption of inputs PPI components/specific tariffs
Construction Quarterly indicators: values/quantities Building permits (administrative register) Surveys: - Construction companies Input indicators (supply of building materials) Government budget for public construction
Road construction, Dams Wholesale and Retail Trade Surveys of retail and wholesale trade VAT data CPI components Transportation and Storage Quarterly indicators: values/quantities Surveys : revenue/quantities (passengers or
freight Information from large enterprises (airlines, airports, rail, public transportation) Freight: volume of goods handled PPI/CPI components Accommodation and Service Activities Quarterly indicators: values/quantities Accommodation Survey (Turnover, COE and Employment) - DOT
Tourists arrivals CPI components Financial and Insurance Activities Quarterly indicators: values/quantities Money and banking statistics Stocks of deposits and loans, interest receivable and payable by institutional sector (for FISIM calculation)
Life insurance (premiums and claims) Non-life insurance (premiums and benefits) Deflation (on deposits and lending, but not on FISIM directly) Real Estate Activities
Quarterly indicators: values/quantities Surveys VAT data Dwelling rents Stock of dwellings (own-account) Housing price/rates
Public administration; Defence; Social Security Quarterly indicators: values/quantities Government finance statistics Employment
Wage index EDUCATION Quarterly indicators: values/quantities
Government finance statistics Survey (Private Education) Quantity indicators from public/private school (number of pupils enrolled, teaching staff number) Wage index/CPI Human health and social work activities
Quarterly indicators: values/quantities Government finance statistics Survey (Private hospital Wage index/CPI Taxes on products/Subsidies
Taxes on imports Value Added Tax Ministry of Finance Values and volumes of imports (preferably with breakdown by type of product)
Revisions Revisions are an essential part of good quarterly national accounts (QNA) compilation practice because they provide users with data that are as timely and accurate as possible. Good management of the process of revisions requires the existence of a well-established and transparent revision policy. First estimates are normally based on limited or
unaudited data and hence cannot be precise and absolute. The figures are revised after receiving finalized or audited data from companies Revisions contd. Quarterly Estimates should be benchmarked to Annual Estimates. Excel Procedure for Bench Marking (XLPBM)is used.
TRAINING Every year National Accountants are invited for different training platforms either by IMF, Afritac South, SADC, MFEMI, AfDB, COMESA. Benchmark to other countries with well established QNA Challenges Obtaining access
Different classifications Timeliness Way forward Implementation of SNA 2008 Compilation of Supply and Use Table (SUT) Rebasing END
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