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NATIONAL ACCOUNTS

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TurkStat NATIONAL ACCOUNTS IN TURKEY * Contents 1-GDP Estimates 2-Revisions 3-Major Improvements 4-SNA Revision 5- Implementation process in Turkey 6- Main changes ... – PowerPoint PPT presentation

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Title: NATIONAL ACCOUNTS


1
TurkStat
  • NATIONAL ACCOUNTS
  • IN TURKEY

1
2
Contents
TurkStat
  • 1-GDP Estimates
  • 2-Revisions
  • 3-Major Improvements
  • 4-SNA Revision
  • 5- Implementation process in Turkey
  • 6- Main changes and actions to be taken

3
TurkStat
GDP Estimates
  • Gross Domestic Product (GDP) in Turkey had been
    started to calculate after the foundation of
    Central Statistical Office.
  • Calculation of GDP are based on quarterly and
    annual data compiled by short term and annual
    surveys conducted by TurkStat.

3
4
TurkStat
GDP Estimates
  • Gross Domestic Product is estimated by
    production, expenditure and income approaches.

  • The system consists of the following elements
  • Value added by kind of economic activity at
    current and constant prices,
  • Expenditure on GDP at current and constant
    prices,
  • GDP by cost components at current

4
5
Revisions
TurkStat
  • Definitions, classifications and other
    methodological improvements,
  • Improvements in data sources,
  • Improvements in data collection.
  •   Historical revisions of Turkish National
    Accounts
  • Base Year 1948 (Published in 1950)
  • Base Year 1968 (Published in 1972)
  • Base Year 1987 (Published in 1993)
  • Base Year 1998 (Published in 2008)
  •  

5
6
Major Improvements
TurkStat
  • Improvements to the commodity flow system
  • The identification of goods used in intermediate
    consumption, investment and household consumption
    was improved.
  • Improvements in the methodology
  • Some changes to concepts and definitions and
    calculating value added at basic prices were
    introduced.

6
7
Major Improvements
TurkStat
  • Improved Supply and Use tables for 2002, basis
    for benchmark year
  • The 2002 Supply-Use and Input-Output Tables were
    the first tables compiled by the concepts,
    definitions and classifications of the ESA-95
  • Financial Services
  • Measurement of FISIM according to ESA 95 was
    applied.
  • A portion of FISIM was allocated to final
    consumption.
  • A portion of FISIM was allocated to intermediate
    consumption in GDP
  • by production approach.
  • Measurement of Central Bank output was developed

7
8
Major Improvements
TurkStat
  • Adoption of chain-linking method in constant
    price estimation
  • Chain-linking method in constant price estimation
    was adopted
  • Unit value indices at constant price estimation
    of exports/imports of goods were applied.
  • Measurement at basic prices (GDP by Production
    Approach)
  • The VAT (and other taxes and subsidies on
    products) are now shown as a separate component
    of GDP.

8
9
Major Improvements
TurkStat
  • Classification systems based on ESA 95 and other
    international standards
  • New classification of industries (NACE) and
    private household consumption (COICOP) are used.
  • Reclassification of some components of GDP by
    industries is used.
  • Final Consumption Expenditure of Households is
    given in detail.
  • Estimates for the non-observed economy were
    recalculated using more detailed data.

9
10
SNA Revision
TurkStat
  • The SNA is a statistical framework that details a
    set of macroeconomic accounts.
  • SNA-2008 serves as an update to The System of
    National Accounts, 1993 (SNA-93).
  • Revision at international level was followed by
    the revision at European level (ESA-1995 to
    ESA-2010).

10
11
SNA Revision
TurkStat
  • The aims of the revision
  • To update of the system to better meet the
    economic development
  • Smooth transition from previous system with not
    introducing fundamental and extensive changes
  • Harmonization with related handbooks

11
12
Implementation process in Turkey
TurkStat
  • Questionnaires will be changed and developed
    according to the requirements for implementation,
  • To achieve the objectives in the implementation
    of new SNA, TURKSTAT will pursue a general
    policy,
  • A detailed description of sources and methods of
    compilation GDP will be prepared,

12
13
Implementation process in Turkey
TurkStat
  • Institutional sector accounts will be prepared,
  • Changeover to the new classifications for annual
    and quarterly data will be realized,
  • Backcasting of annual and quarterly GDP series
    will be realized,
  • Non-observed economy estimates will be improved,

13
14
Implementation process in Turkey
TurkStat
  • Quarterly sector accounts will be developed,
  • SUT and IOT tables will be compiled more
    frequently,
  • National accounts database will be developed,
  • Close cooperation with stakeholders will be
    improved,
  • Number of trainings will be increased,
  • Some projects have been proposed to Eurostat.

14
15
Main changes and actions to be taken
TurkStat
  • The main the main changes in SNA-08 with
    respect to SNA-93 can be classified in 5 sections
    as
  • Assets
  • Financial sector
  • Globalization
  • General government and public sector
  • Informal sector

15
16
Main changes and actions to be taken
TurkStat
  • Assets
  • The changes by treatment of natural resources and
    licenses and leases will be studied.
  • Expenditures for weapon systems treated as
    capital formation and assets will be investigated
    but is difficult to implement in short or medium
    term.
  • The concept of capital services is being
    investigated

16
17
Main changes and actions to be taken
TurkStat
  • Financial Sector
  • Changes in treatment of financial derivatives and
    non-performing loans is being investigated
  • Refined method of measurement of FISIM is being
    studied.
  • Globalization
  • Clearly defined guidelines for the treatment of
    companies and units operating in more countries
    is being investigated
  • Treatment of remittances from the movements of
    persons abroad is being studied

17
18
Main changes and actions to be taken
TurkStat
  • Globalization
  • Recording according to principle of change in
    ownership of goods will be investigated. The main
    issues are
  • Difficulty in obtaining source data
  • Difficulty in distinguishing goods for processing
    from other goods in external trade
  • Treatment in supply and use table
  • Recording of goods for processing and merchanting
    will be changed. There are some issues raised,
    including
  • Lack of appropriate source data
  • Difficulty with the conceptual notion of negative
    export
  • Difficulty with coordination of balance of
    payment areas
  •  

18
19
Main changes and actions to be taken
TurkStat
  • General Government and Public Sector
  • Additionally defined and clarified numerous
    principles due to changes of operations and in
    accounting standards are being investigated
  •  
  • Delineation of general government and public
    sector from other sectors will be applied
  •  
  • Informal Sector
  • Informal sector and non-observed economy
    estimates will be improved

19
20
Main changes and actions to be taken
TurkStat
  • SNA-08 (ESA-2010) will be implemented in a medium
    or long term in TurkStat.
  • TurkStat plans to implement these changes and
    publish data in 2015. As a result of
  • Resource constraints
  • Data limitations
  • Methodological constraints

20
21
TurkStat
  • Thank you...

21
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