Guidance on Measuring Global Production Prepared by Eurostat, OECD, and UNECE
Practical and conceptual guidance on measuring global production, including processing, merchanting, and ownership considerations. Recommendations from the Guide published in January 2016, with an emphasis on implementation and follow-up activities. Involvement of various organizations and countries in discussions, meetings, and research to ensure consistent application of the Guide.
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Guidance on Measuring Global Production Prepared by Eurostat, OECD and UNECE 10thAEG meeting 13-15 April, Paris .
Guide to Measuring Global Production The Guide Published in January 2016 Practical guidance: processing, merchanting, multiterritory enterprises, quasi transit trade, large cases units Conceptual guidance: typology (FGP, merchanting of services), ownership, treatment of ownership of IPP Consultations AEG: 2013 (Industrial classification of FGPs) 2014 (treatment of FGP transactions, ownership over IPPs) - 2 global consultations, BOPCOM, Classifications EG, etc. Research agenda
Guide to Measuring Global Production This paper Summarizes the main recommendations of the Guide and the proposed further work Presents the follow up activities of Eurostat, OECD and UNECE in the identified areas
Implementation of the Guide Main priority of countries is implementation of the recommendations of the Guide/2008 SNA with respect to global production: Increased data requirements Review of data sources; development (or revision) of questionnaires Increased response burden New methods for compiling and integration of data Information exchange platform For stocktaking of complex cases, testing the typology For exchange of experience In the form of face-to-face meetings and/or website
Implementation of the Guide Several meetings provided forum to discuss research issues and share experience UNECE/Eurostat/OECD meeting on Measuring Global Production OECD Working Party on Trade in Goods and Services OECD Working Party on National Accounts OECD Expert Group on Extended SUT EU countries - Eurostat Project on Global Production and Integrated Global Accounts (Sept 2016- Dec 2018) to ensure Consistent implementation of the Guide across NA and BoP EU input to the research agenda SEE and EECCA countries Workshop(s) by Eurostat, UNECE, other partners Russian version of the Guide by CIS-Stat and UNECE
Main recommendations and future work Typology of global production arrangements Testing and updating the typology based on real examples (e.g. merchanting of services) Factoryless goods producers: start by developing rules for identification, test the alternative classification and treatment proposed in the Guide Goods services split Follow up EU Task Force on FGPs: to develop rules for detection and flagging based on ESS sources Joint meeting between the UNECE/Eurostat/OECD Expert Group on NA and TSG on ISIC (19 May 2016) ISWGNA Task Force on Statistical Units (chaired by OECD)
Main recommendations and future work Economic Ownership theory and practice Legal versus economic ownership within MNE groups (SPEs holding IPPs), prorating of transactions and assets ownership of multiterritory enterprises and construction projects Regular dialogue with IASB, following emerging arrangements or changes in accounting practices Prorating of transactions and assets ownership in coordination with all NSIs involved Continue the exchange of country experiences in recording the activities of multiterritory enterprises
Main recommendations and future work Economic Ownership theory and practice Stay close to statistical reporting (rerouting not recommended) but explicitly identify artificial IPP services, e.g. in supplementary tables Develop the design of supplementary tables to inform users the significance of these flows Decision tree for determining economic ownership of IPPs in MNE Group Testing the applicability based on different data availability
Main recommendations and future work New Data Sources and Methods Additional data needs to provide measures of items incompletely (or not) covered in existing source statistics Serious resource constraints, NSIs should consider ways of making optimal use and combining data from different sources including tax and customs data Integrated business register that allows bridging the statistical business register and the customs register Large and complex enterprises units dealing with integrated data collection, compilation and consistency analysis Need of international cooperation and data exchange between NSIs Common international business register
Main recommendations and future work New Data Sources and Methods International cooperation and data exchange (cont.) Recording of intra-company services flows; confidentiality issues Data comparison programmes for bilateral asymmetries Follow up Eurostat-OECD compilation guide on measuring inventories section on global production (and inventories held abroad) In-depth review of exchange and sharing of economic data the CES Bureau will discuss future work in October 2016 EuroGroups Register the new release in 2016 will cover nearly 60000 multinational enterprise groups
Main recommendations and future work Price and volume measurement Developing of price and volume measures for Industrial processing Output of FGP principal and contract producer Trade services in connection to merchanting Services of head offices IPP related services Inventories abroad, etc. Follow up Update of the Eurostat Handbook on Price and Volume Measures - recommendations on price and volume measures for merchanting and processing abroad
Main recommendations and future work Trade in Value Added Improving the quality of statistics on global production Enhancing a global accounting framework Eliminating asymmetries in trade statistics Developing aggregations grouping together firms with similar roles in global value chains (e.g. processors, FGPs, etc.) Follow up FIGARO project Annual production of EU inter-country IOT and 5-year production of EU inter-country SUIOT First results in 2017
Main recommendations and future work Trade in Value added follow up TiVA Consolidate and enhanced TiVA database, extensions linking trade and investment, SMEs Work to reduce asymmetries and improve coverage of trade statistics International coordination (FIGARO, APEC-TiVA) OECD Expert Group on Extended SUT Integrated economic accounting framework linking TEC data, FATs, FDI flows, SBS, trade, employment and SUT to provide a coherent tool for the analysis of globalisation Input to UN ITEGS Expert Group Development of Investment Matrices by Industry and Asset
Guidance to Measuring Global Production AEG is asked to: Provide comments on the planned activities Express views on the priorities of work
