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Globalization and Economic Statistics

Globalization and Economic Statistics. UNECE Statistical Division 15 June 2011. Trade-related activities. UNECE leads a Group of Experts on the Impact of Globalization on National Accounts (GGNA)

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Globalization and Economic Statistics

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  1. Globalization and Economic Statistics UNECE Statistical Division 15 June 2011

  2. Trade-related activities • UNECE leads a Group of Experts on the Impact of Globalization on National Accounts (GGNA) • To review the challenges, caused by globalization, in compiling main economic indicators and to prepare practical guidance, due in June 2011 • All member states of UNECE, OECD and Eurostat participated (+ China, Hong Kong SAR, Mongolia, Singapore and South Africa) http://www.unece.org/stats/groups/wggna.e.htm • Indicators in the UNECE on-line Statistical Database • Balance of Payments • Globalization indicators (to be published in the course of 2011) http://w3.unece.org/pxweb/Dialog/

  3. The Guide Impact of Globalization on National Accounts Provides recommendations and best practices on how to deal with the impact of globalization on national accounts One of the three sections discusses challenges in measuring cross-border trade in goods and services processing of goods abroad (no change of ownership) merchanting (products do not enter or leave the country of the seller) international trade in intellectual property products (software etc.) global manufacturing (combination of all above) re-exports, transit and quasi-transit trade 26 August 2014

  4. Trade related issues for future work recommended by GGNA Global manufacturing processes which take place in more than country International trade in intellectual property products within multinational enterprises Global service contracts when the seller, customer and services provider are all resident in different countries Commonly agreed definition of special purpose entities (units of foreign multinational enterprises with large financial stocks and flows, but small physical presence) and their role in global trade 26 August 2014

  5. UNECE on-line Statistical Database – Globalization indicators The indicators will be based on generally accepted measures, such as the OECD “Handbook on Economic Globalisation Indicators” The indicators cover the following areas: globalization of trade trade performance growth of trade and foreign direct investment Not a comprehensive description, but a useful snapshot 26 August 2014

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