Q:
A:
Serbia transfers to ESA implementation methodology
Belgrade,
3 October 2014
The Statistical Office stated that Serbia has started using the new 2010 ESA Implementation methodology, according to which GDP in 2013 increased nominally by 8.2% and by 2.6% in real terms.
According to the presented preliminary results of the calculation for 2013, the gross domestic product amounted to RSD 3,876,403 million, at current prices.
The Republic of Serbia has officially started to implement the new methodology of national accounts 2010 ESA in parallel with EU member countries.
To do so it is necessary to have consistent time series of data on GDP, calculated by 2010 ESA, starting from 1995.
Therefore, the Statistical Office has completed the revision of data for the period 1997-2012 published so far, and for the first time the GDP calculation for 1995 and 1996, as well as the calculation of previous data for 2013.
The published statistical release presents data series for the total GDP prior and after the revision (i.e. according to 2010 ESA), with the quantification of the influence of the revision results on the GDP level and dynamics.
The content of the GDP revision has two components – one referring to conceptual, i.e. methodological changes and the second to essential changes in our statistical system (i.e. in statistical sources and procedures) which have not been implemented in the GDP calculation.
The most important conceptual changes concern the application of 2010 ESA to the treatment of research and development.
In our conditions, in the scope of statistical changes the most significant are exhaustiveness (like GDP coverage), FISIM allocation by institutional sectors and the introduction of illegal activities in the GDP calculation.
As regard the values prior to the revision, all mentioned changes has influenced the increase of GDP in the entire time series, on average by 7%, of which approximately 1 p.p. is directly conditioned by the implementation of methodological solutions from 2010 ESA.
The calculation at current prices has been considerably improved by using new sources and improving the coverage.
At current prices, double deflation has been applied from 2005, a method which is the applicable standard in EU member countries and recommended by international organisations.
One of the results of this revision is the establishment of a balance between the production and expenditure side of GDP, both at current and constant prices, in the entire time series.
The Republic of Serbia has officially started to implement the new methodology of national accounts 2010 ESA in parallel with EU member countries.
To do so it is necessary to have consistent time series of data on GDP, calculated by 2010 ESA, starting from 1995.
Therefore, the Statistical Office has completed the revision of data for the period 1997-2012 published so far, and for the first time the GDP calculation for 1995 and 1996, as well as the calculation of previous data for 2013.
The published statistical release presents data series for the total GDP prior and after the revision (i.e. according to 2010 ESA), with the quantification of the influence of the revision results on the GDP level and dynamics.
The content of the GDP revision has two components – one referring to conceptual, i.e. methodological changes and the second to essential changes in our statistical system (i.e. in statistical sources and procedures) which have not been implemented in the GDP calculation.
The most important conceptual changes concern the application of 2010 ESA to the treatment of research and development.
In our conditions, in the scope of statistical changes the most significant are exhaustiveness (like GDP coverage), FISIM allocation by institutional sectors and the introduction of illegal activities in the GDP calculation.
As regard the values prior to the revision, all mentioned changes has influenced the increase of GDP in the entire time series, on average by 7%, of which approximately 1 p.p. is directly conditioned by the implementation of methodological solutions from 2010 ESA.
The calculation at current prices has been considerably improved by using new sources and improving the coverage.
At current prices, double deflation has been applied from 2005, a method which is the applicable standard in EU member countries and recommended by international organisations.
One of the results of this revision is the establishment of a balance between the production and expenditure side of GDP, both at current and constant prices, in the entire time series.
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