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CARIBBEAN INTEGRATION SUPPORT PROGRAMME (CISP)

CARI COM. ST/ECON/2008/1/5. CARIBBEAN INTEGRATION SUPPORT PROGRAMME (CISP). Result 4: Improved and Harmonised Economic Statistics Developed and Disseminated. CARICOM Economic Statistics Meeting 19 & 20 June 2008 Christ Church, Barbados. CARI COM. Overall Objective.

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CARIBBEAN INTEGRATION SUPPORT PROGRAMME (CISP)

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  1. CARICOM ST/ECON/2008/1/5 CARIBBEAN INTEGRATION SUPPORT PROGRAMME (CISP) Result 4: Improved and Harmonised Economic Statistics Developed and Disseminated CARICOM Economic Statistics Meeting 19 & 20 June 2008 Christ Church, Barbados

  2. CARICOM Overall Objective Provide the decision-makers of CARICOM with the information necessary to monitor and guide progress in the establishment and the strengthening of the CARICOM Single Market and Economy (CSME)

  3. CARICOM Achieving the Objective • Harmonizing the inter-regional statistical infrastructure; • Improving statistical programming, production and dissemination of key economic statistics; and • Training staff and using economic statistics for monitoring of the Regional Integration Process

  4. CARICOM Major Results Expected • Programming and coordination of the regional and national statistical systems are strengthened; • Methods and systems for the collection, production, processing, dissemination and exchange of key economic statistics are improved and better harmonized; and

  5. CARICOM Major Results Expected Cont’d • The consolidation and the dissemination of economic statistics at the regional and national levels are improved, facilitating the formulation of policies and decision making at the regional level.

  6. CARICOM Focus on Improving Key Areas of Economic Statistics • National Accounts/Short-term Economic Indicators; • Merchandise Trade Statistics; and • International Trade in Services/ Investment Statistics.

  7. CARICOM National Accounts/Short-term Economic Indicators • Reactivation of CARICOM Advisory Group on National Accounts (incorporating economic indicators); • Collection of information to obtain baseline understanding of NA Systems in all Member States on (1) existing treatment through quality approach and (2) assessment of sustainable resources for NA;

  8. CARICOM National Accounts/Short-term Economic Indicators cont’d • Development of a regional approach for the implementation of the 1993 System of National Accounts (1993 SNA) and devising of methods of obtaining harmonized National Accounts estimates; • Conducting of a study on treatment of National Accounts estimation procedures at the NSOs of Member States – metadata, indicators, current and constant prices, classifications including treatment of the informal sector in the production of National Accounts of CARICOM Countries;

  9. CARICOM National Accounts/Short-term Economic Indicators cont’d • Undertaking and implementation of quality standards based on the study on treatment of National Accounts estimation procedures at the NSOs of Member States; • Programme of training in National Accounts.

  10. CARICOM Merchandise Trade Statistics • Improvement of collaboration between Customs and Statistics; facilitation of dialogue at national level (service level agreements, arrangements on data delivery, deadlines, controls and data checks); • Improvement of data production and dissemination through the implementation and use of Eurotrace for Windows software;

  11. CARICOM Merchandise Trade Statistics cont’d • Conducting of one workshop preferably each year for Eurotrace users; • Support for the implementation of data transmission to CARICOM from MS and in establishing National Quality Reports; • Reconciliation study of intra and extra CARICOM trade.

  12. CARICOM International Trade in Services/Investment Statistics • Reformulation of Advisory Group on International Trade in Services/ Investment Statistics; • Refinement, dissemination and implementation of Common Guidelines to compile statistics in this area – sensitization, inter-agency platform, defining clear approach with timelines, identification of counterpart staff, level of detail of services statistics, etc;

  13. CARICOM International Trade in Services/Investment Statistics, cont’d 3. Design and implementation of common classifications and questionnaires reflecting details/data profile, Extended Balance of Payments in Services (EBOPS), Foreign Affiliate Trade in Services (FATS);

  14. CARICOM International Trade in Services/Investment Statistics, cont’d • Undertaking of special studies on intractable services sector/ characteristics (modes of delivery) to lead to approach to data collection in this area;

  15. CARICOM International Trade in Services/Investment Statistics, cont’d 5. Implementation of processes for the building of systems to obtain detailed and relevant statistics on investment flows by trading partner (source and origin country as well as intra-regionally and extra-regionally), industry and type (retained earnings, equity, etc).

  16. CARICOM Thank You for Your Attention

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