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National Account

National Account. Federal Bureau of Statistics. What is National Accounts . The National Accounts is a systematic framework for the presentation of statistics that provide a wide range of information about the economy

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National Account

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  1. National Account Federal Bureau of Statistics

  2. What is National Accounts • The National Accounts is a systematic framework for the presentation of statistics that provide a wide range of information about the economy • National accounts or System of National Accounts (SNA) provide a summary of national economy • There are a number of aggregate measures in the national accounts, most notably gross domestic product or GDP and investment.

  3. Uses of National Accounts • The National Accounts helps economists to measure the level of economic development and the rate of economic growth, the change in consumption, and investment etc for the total economy. • It serves as a framework for macroeconomic analysis. It presents an overall picture of the functioning of an economy.

  4. Uses of National Accounts • GDP at constant prices indicates economic growth to measure the performance of the economy over time or in comparison with other countries/in comparison with previous periods. • With data from NA, economists can forecast the future growth of the economy. • impacts on the economy and its sectors of alternative government policies. It also serve as a tool for policy making and planning.

  5. Framework of Pakistan’s NA • Regular Activities: • GDP/GNP (factor costs) by industrial origin (by “sector”) • Expenditure on GNP (market prices) • Estimates of GFCF (market prices) by industrial origin for private & public sector and for general government • Other Activities: • Input-Output Tables • Rebasing of National Accounts from 1999-2000 to 2005-06 • National Health Accounts

  6. Sectors of the Economy A. Agriculture Sector • Crops Major Crops Minor Crops • Livestock • Fishery • Forestry

  7. Sectors of the Economy B. Industrial Sector • Mining and Quarrying • Manufacturing Large Scale Small Scale Slaughtering • Construction • Electricity, Gas & Water Supply

  8. Sectors of the Economy C. Services Sector • Transport, Storage & Communication • Wholesale & Retail Trade • Finance & Insurance • Ownership of Dwellings • Public Admn. & Defence • Social, Community & Personal Services

  9. Major crops: Minor crops: Rice, Wheat, Cotton, Sugarcane, Gram, Maize, etc. Pulses, Vegetables, Fruits, Oil seeds, Condiments, etc. CROPS Intermediate Consumption: Seeds, Fertilizer, Pesticides, Water, Transport Charges, etc. Provincial Agriculture & Irrigation Departments, IRSA, WAPDA, Federal Directorate of Fertilizer, Pesticides Association, etc. Sources: Gross Value Added: Value of output including by-products (minus) Intermediate consumption

  10. Inputs Output • Seeds • Fertilizers • Ploughing & Planking • Pesticides, weeding, Spraying etc • Water • Transportation charges • Wastages 125kindsof Crops Quantity (of Production) Prices (Crops) Value Gross Value Added of Crop Production (Output minus Input)

  11. LIVESTOCK Composition: Cattle and their products Poultry and their products Intermediate Consumption: Roughages (green and dry),Concentrates (Grains, Oilcakes), Grass &Grazing, salt, Medicines, etc. Sources: Livestock Division, Agriculture Census Organization, Pakistan Poultry Association etc. Gross Value Added: Value of output including by-products (minus) Intermediate consumption

  12. Gross Output • Net Sale (Sale of Animals – Purchase of Animals)=Sale for Slaughtering) • Natural Growth • Livestock Products • Milk • Draught Power • Dung & Urine • Wool & Hair • Poultry Products • Broilers (Farming) • Layers (Farming) • Poultry (Desi) • Ducks, Drakes & Ducklings • Breeding Stock (Farming) • Eggs (Farming) • Eggs (Desi)

  13. Intermediate Consumption • Fodder • Green • Dry • Concentrate • Poultry Inputs • Other Inputs • Transportation, POL, etc • Medical care etc • Interest (Bank charges) • Repair & Maintenance • Rent Paid (Building, Machinery etc) • Value of chicks

  14. FISHING • Composition: • Marine • Inland Fish, Prawn, Shrimps, crabs, etc. from: Ocean, Coastal and Offshore water, Fish farms, Rivers, Canals, Lakes, Ponds, and inundated tracts, etc. Intermediate Consumption: Salt, Ice, Fuel & Lubricants, Medicines, Chemicals, etc. and Auction Charges. Sources: Marine Fisheries Department, Provincial Fisheries Departments & Federal Bureau of Statistics. Gross Value Added: Value of output (minus) Intermediate consumption

  15. Gross Output Production Price Value of Output

  16. Marine Fishing Ice Salt Fuel Gas Others Inland Fishing Seed Feed POL /Elect Water Other Intermediate consumption

  17. FORESTRY Composition: Timber, Firewood, Ephedra, Grass & Grazing, Resin, Medicinal herbs, and other Minor Forest Products/Output. Intermediate Consumption: Seeds, plantation, fertilizer, etc. Federal Inspectorate General of Forests. Provincial Forest Departments. Sources: Gross Value Added: Value of output (minus) Intermediate consumption

  18. Forestry • Gross Output • Timber • Firewood • Medicinal Herbs • Mazari & Gum • Wild Mushroom • Honey & Wax • Silk Worms • Wild Fruits Intermediate Consumption=24.99% of Timber and Firewood

  19. MINING & QUARRYING Composition: Crude oil, Natural Gas, Coal including other minerals, e.g. Rock Salt, Lime Stone, Dolomite, Gypsum, Fire clay, Phosphate, Marble, Surface Minerals and Allied Services. Intermediate Consumption: Blasting Material, Fuel and Lubricants, etc. Sources: Ministry of Petroleum and Natural Resources, OGDC, etc. Coal and other Mineral Establishments, Provincial Mineral Departments Gross Value Added: Value of output (minus) Intermediate consumption

  20. LARGE-SCALE MANUFACTURING Composition: Food, Beverages, Tobacco, Textile, Leather, Wood & Wood Products, Paper & Boards, Chemicals, Pharmaceutical, Petroleum, Metal, Engineering, Electrical, Automobile and other Industrial products/ groups. Ministry of Industries, OCAC, Provincial Bureaus of Statistics, Federal Bureau of Statistics. Sources: For calculating growth rate of value added, Quantum Index of Manufacturing (QIM) is computed based on production data of 100 items having 75.07% weight (bench-mark 1999-2000) of Large Scale Manufacturing Sector.

  21. SMALL-SCALE MANUFACTURING Composition: All un-registered small and household manufacturing establishments Benchmark Estimates of Gross Value Added: Based on special study and SHMI Surveys. Annual Growth: 7.51 % based on Study on SSMI 1999-2000

  22. SLAUGHTERING The slaughtering industry relates to manufacturing whereas the livestock is a part of agriculture sector. The products meat (beef, mutton, chicken) and other products (hides, skins, bones and blood etc) constitute output of slaughtering. Composition: Intermediate consumption: Value of Animals (Buffalo, Cattle, Sheep, Goat, etc and Poultry (Farm and Desi). Other inputs Benchmark Estimates of Gross Value Added: Based on special study (1999-2000). Value of output (minus) Intermediate consumption Livestock Division, MINFAL Source: Annual Growth: For calculating GVA of subsequent years, growth of meat is applied

  23. CONSTRUCTION Composition: All major construction activities including repairs, additions/alterations, Land Improvement; Buildings; Roads, Bridges, Streets; Highways; Runways; Transport & Railway Tracts; Telephone, Power, Gas, Oil, Utility lines; Canals; Dams; Harbour & Barrages etc. Federal, Provincial & Local Bodies, Development Authorities, Major Public & Private Construction Establishments, Federal Bureau of Statistics. Sources: Value addedcoefficients of Investment by kind of construction are multiplied to Investment made in that activity during the year. Value additions of all activities are summed up.

  24. ELECTRICITY, GAS DISTRIBUTION & WATER SUPPLY Composition: Electricity, Gas distribution and Water supply Intermediate Consumption: Furnace Oil, Gas, Water, etc. • Sources: • Electricity: • Gas: • Water: WAPDA, KESC, KANUPP, Pak Steel, IPPs and Captive Power units. Sui Southern and Sui Northern Gas Cos., Mari Gas etc. IRSA, Provincial Irrigation Departments. Gross Value Added: Value of Electricity, Gas & Water Supply (plus) Misc. Receipts (minus) Industrial cost & Electricity/Gas purchases.

  25. TRANSPORT, STORAGE & COMMUNICATION Composition: Railway, Air, Water, Road, Pipeline Transport, Storage & Communication Sources: Pakistan Railways, PNSC, KPT, PQA, KICT, QICT, PICT,CAA, PIA & other Airlines. NTRC, Asia Petroleum, PARCO, etc. Boats. PTCL, NTC,Mobile Phones,ISPs,PCOs, Post Offices, Courier Services, NLC,Town Committees (for Non-mechanized) Gross Value Added: Value of output (plus) Misc. Receipts (minus) intermediate consumption

  26. FINANCE & INSURANCE Composition: State Bank of Pakistan, Scheduled Banks, DFIs, Insurance Companies, Modaraba & Leasing Companies. Sources: State Bank of Pakistan, Scheduled Banks, Development Financial Institutions, Life and General Insurance Cos, Modarabas & Leasing Companies. Gross Value Added: Value of output (plus) Misc. Receipts (minus) intermediate consumption

  27. WHOLESALE & RETAIL TRADE

  28. OWNERSHIP OF DWELLINGS

  29. PUBLIC ADMN. & DEFENCE

  30. COMMUNITY, SOCIAL & PERSONAL SERVICES

  31. Gross National Product of Pakistan At constant factor cost of 1999-2000 – Rs. Million

  32. Rebasing/Linking Practice • First base: 1959-60 • Second: 1980-81 • Third: 1999-2000 • Fourth: 2005-06 (work in progress) • The backward and forward revision will be undertaken after rebasing of 2005-06.

  33. Studies for Rebasing of NA • Inland Fishing • Marine Fishing • Road Transport (Intercity and Intra-city) • Public Call Offices and Pay Phone Companies • Cable Operators and Internet Service Providers (ISPs) • Courier Services/ Franchised Post Offices • Shipping, Goods Forwarding and Custom Clearing Agents • Travel Agents, Tour Operators & Franchised Booking Agents

  34. Studies for Rebasing of NA

  35. Surveys for Rebasing of NA • Family Budget Survey • Census of Electricity & Gas Distribution (including CNG, LPG) • Census of Mining & Quarrying • Census of Manufacturing Industries • Survey of Small & Household Manufacturing Industries • Survey of Whole Sale and Retail Trade, Hotel and Restaurants • Construction Survey • Rent Survey • Survey of Water Supply & Sanitation • Survey of Warehousing and Storage • Survey of Non-Governmental Organizations (NGOs) • Survey of Social, Recreational, Community and Personal Services

  36. Why rebasing of National Accounts • To capture the real and reliable estimates of Gross Domestic Product(GDP). Gross Fixed Capital Formation(GFCF) by enlarging the sphere and coverage of macro - economic data and estimates as per guidelines of System of National Accounts(SNA) • The rebasing is a requirement of the government policy and decision makers, researchers and national and international users of Pakistan macro-economic data and it is also international practice.

  37. Why rebasing of National Accounts • The present National Accounts estimates are based on 1999-2000 and have become outdated due to fast and rapid changes in economy and economic structure. National Accounts Committee recommended that the base should be changed to 2005-06 and new estimates may be prepared. Therefore, a project “Rebasing of National Accounts from 1999-2000 to 2005-06” was initiated in 2006. • The implementation involves the following activities: • New surveys / studies , • New classifications, • New methods and concepts and new price bases .

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