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UNITED NATIONS ECONOMIC COMMISSION FOR EUROPE What UNECE does for you ...UNECE works for better economic

UNECE helps countries to improve the quality and comparability of Why is UNECE involved in the non-observed , used measure of national economic performance. It is used economic statistics? globalization, consumer to calculate indicators relevant to policymaking and is often indices, business registers and a basis for determining country contributions to international According to the Fundamental short-term statistics. organizations and funds, and distributing subsidies or foreign Principles of , aid. In addition, the produce that provide “Official statistics provide the basis for monitoring economic policies, like production an indispensable element in What does the work by different sectors and industries, government debt and the information system of a on national accounts democratic society, serving the involve? productivity. It is therefore essential that all countries calculate national accounts and GDP according to the same methodology government, the economy and National accounts are a and produce comparable data. the public with data about the coherent, consistent and A few years ago the international statistical community economic, demographic, social integrated set of macroeconomic undertook an update of the standard for compiling the national and environmental situation.” As accounts, balance sheets accounts used worldwide – the System of National Accounts the author of these Principles, and tables based on UNECE plays an active role in internationally agreed concepts, (SNA) that was adopted by the United Nations Statistical strengthening official statistics definitions, classifications Commission in 1993. Since then the economic realities have in the region. The aim of the and accounting rules. They changed and new phenomena have emerged that either did work is to improve the quality provide a comprehensive not exist or had a much smaller impact 15-20 years ago. and comparability of economic accounting framework within These include the increasingly complex financial services and statistics in countries by which economic data can be financial instruments, growing globalization, the substantial role promoting the implementation compiled for the purposes of of innovation, scientific research and information technology, of standards, and pursuing economic analysis, decision- issues related to software, databases, originals and copies, the work in emerging areas. The making and policymaking. One so-called intangible fixed assets (like patents, leases, goodwill, work deals with several areas of the indicators produced by brand names, trademarks, franchises, etc.). In order to account of economic statistics, including: the system is Gross Domestic for all this, the SNA has been updated to become the new SNA national accounts, measuring Product (GDP) – a widely 2008.

...UNECE works for better economic statistics UNECE has been contributing to the SNA ensuring that the GDP covers all economic caused by economic globalization. The update process. UNECE also has ensured activities and have developed a range of research agenda includes the implications that the countries of Eastern Europe, techniques to estimate the informal, illegal of the activities of multinational enterprises Caucasus and Central Asia (EECCA) and underground activities, and those for the allocation of value added and and the Western Balkans are informed undertaken by households for their own income to national , treatment about international methodological work final use. of goods sent abroad for processing; related to updating the SNA and that they The UNECE has carried out three instances recording of merchanting; transactions are not left behind in the implementation of a survey on methods used by countries in intellectual property, e-commerce, of changes that will follow. Current work is to measure the non-observed economy. labour mobility, remittances, foreign direct concentrated on discussing the strategy The latest results were published in 2008 investment and related income, etc. for the implementation of the updated and include data and information from 43 SNA as there will be several challenges countries in Europe, North America and Which other areas of economic Central Asia. A series of seminars on for the EECCA and South-East European statistics does UNECE work in? countries to overcome. These countries will measuring the non-observed economy have to implement the SNA modifications has been organized for the Central Asian For almost 30 years the UNECE Statistical while there is still much to improve in countries. Division has been involved in work to the current system and the economies improve consumer price indices (CPIs) in member countries. The CPI is a key continue to change. The UNECE Statistical How does globalization influence and is used as the Division will help to spread knowledge economic statistics? and exchange experiences to facilitate the general measure of . It is also Globalization creates many challenges implementation process. widely used to adjust salaries, pensions for official statistics. The lowering of and other income transfers to account for Another important issue related to GDP barriers and the activities of multinational price changes, and as an input in other coverage is the non-observed economy. companies, with complicated networks statistics, such as the National Accounts. This term denotes those economic of affiliates in different countries, have In an increasingly globalized world, the activities that should be accounted for resulted in production spanning national international comparability of the CPI in the GDP but are not captured in the borders. More and basic statistical sources. They could be more services are activities that are illegal or hidden from the provided globally authorities to avoid paying tax or social and over Internet, security contributions. They may also be for example, computer activities that are not deliberately concealed software development but are simply not covered by statistical and support. Under these sources, such as goods produced for own conditions it becomes final use, or production on such a small increasingly difficult to scale that the producer is not required to measure GDP and related register. Incomplete statistical surveys economic transactions at the or administrative records can be another national level. reason why some economic activities can A joint UNECE/Eurostat/OECD be missed out from the GDP calculation. working group was established This part of the economy is sometimes through the Conference of referred to as the “underground”, “hidden”, European to deal “informal”, “shadow”, “black” or “grey” with the distortions to the economy. The 2002 OECD Handbook traditional statistical measures on the topic established “non-observed that occur as a result of economy” as the commonly used term. globalization. The Working Being non-observed does not mean Group will develop operational that these activities are not measured guidelines for countries to or that they are excluded from the GDP. deal with some of the issues Statistical offices put a lot of effort into 6 becomes more important. To this end, the International The UNECE Statistical Division supports the / CPI Manual, published in 2004 as a result of the joint development and implementation of internationally efforts of six international organizations, including accepted standards and norms in the field of STES, UNECE, offers extensive methodological advice and with special focus on the South-East European and promotes best practices and implementation of generally EECCA countries. Within the UNECE region there is a accepted standards and methods. need for improved international comparability of STES ECE/INF/NONE/2009 500 500 — Through the organization of international meetings, for key indicators such as industrial production and price , development of methodology and assistance given to indices. To address this issue the Statistical Division has 2009 2009 — 1 member countries, the Statistical Division supports the initiated a pilot project on methods improvement of statistical methods and their application, and a project on the international comparability of short- as well as the implementation of internationally accepted term statistics in EECCA and South-East European standards and practices. countries. 23759 — 23759 October - 09 The Statistical Division is also involved in work on price . statistics at a global level through active participation in Does the Statistical Division also provide the Intersecretariat Working Group on Price Statistics economic data? and in the International Working Group on Price Indices In addition to methodological work in economic statistics, (the Ottawa Group). UNECE provides macroeconomic data in a database Another area where UNECE works is business registers available on Internet (http://www.unece.org/stats/data). – an indispensable tool for an efficient system of data More details about the database are available in What collection from businesses. The secretariat aims to ECE does for you: UNECE provides the latest social ensure that the countries of South-East Europe and and economic information (http://www.unece.org/ EECCA implement statistical business registers. highlights/what_ECE_does/English/0823833_UNECE_ The UNECE Statistical Division carries out a regular Social&Economic_Info.pdf). survey of statistical business registers in UNECE non- European Union member countries, in cooperation with Eurostat.

Work is also conducted in the area of — GE Geneva Nations, United Service, by the and Publishing printed Designed short-term economic statistics (STES). These are monthly or quarterly statistics providing information on key areas essential for economic development and for economic For more information visit analysis, such as industrial production, retail http://www.unece.org/stats/ trade, , construction, and or contact [email protected] services. The statistics help users understand which phase of the economic cycle they are in at present and may be used to form expectations of the likely developments in the near future. Governments and businesses rely on STES for informed decision-making and Central Banks use STES for developing monetary policies. UNITED NATIONS ECONOMIC COMMISSION FOR EUROPE Information Service Palais des Nations CH - 1211 Geneva 10, Switzerland Phone: +41 (0)22 917 44 44 Fax: +41 (0)22 917 05 05 E-mail: [email protected] Website: www.unece.org