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Published Accounts of Companies - PowerPoint

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									   Canada’s Provincial and
    Territorial Economic
          Accounts


                             Arthur Berger

Regional Products and Income Accounts, Beijing, China, 15-19 March 2010
Outline

1. Regional Economic Accounts: Canadian
   context
2. Regional Input Output Tables
3. Regional Income and Expenditure Accounts
4. Regional GDP by industry




2               Statistics Canada • Statistique Canada   21/07/2011
Part 1: Canadian context

Principles for Canadian regional accounts:
 Integration of accounts – Input Output, Income &
   Expenditure Accounts, GDP by industry
 Standardization – common survey frame, classification
   systems, chart of accounts
 Coherence – establish control totals & adjust detail to
   add up to total
 Use administrative data and survey data



3                    Statistics Canada • Statistique Canada   21/07/2011
Part 1: Canadian context

Legislative Requirements:
 Value added tax collected by federal
  government on behalf of provinces, allocated to
  those provinces based on regional economic
  accounts expenditure estimates
 Federal transfer payments to provincial
  governments also based on regional accounts
  data


4                 Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Topics
 Timing
 Detail
 Benchmarking role
 Data sources
 Balancing
 Deflation


5               Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables
Timing:
 Annual regional Input Output tables are
  published 34 months after the reference period
 For example, 2006 I/O tables were published in
  November 2009
 National I/O tables are published concurrently
  with the regional tables
 Most source data available 15 months after
  reference period, but some as late as 24 months

6                Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Detail:
 Regional I/O tables are broken down into 300
  industries, 727 commodities, 170 final demand
  categories
 This is the same detail found in the national I/O
  tables




7                  Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Imports & Exports Detail:
 727 commodities
 13 provinces and territories + rest of world
 Example: exports of bank and investment
  commissions from Ontario province to Quebec
  province were $600M in 2006




8                Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Benchmarking Role:
 Regional I/O tables provide C$ benchmark for regional
  income and expenditure based GDP, and regional value
  added by industry
 Regional I/O tables add-up to the national I/O tables
 National K$ I/O tables provide benchmark for national
  real GDP by industry




9                   Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Data Sources:
 Industry estimates
 Final demand estimates




10               Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Data Sources – Industry Estimates:
 Annual surveys, mostly establishment based, sampling
  designed to produce accurate estimates by province
 Samples are usually divided into three strata:
     • take all (large companies that operate in more than one industry
       and/or more than one province)
     • take some (medium sized companies)
     • take none (smaller companies that operate in only one province
       and only one industry)
 Income tax data is used for take none stratum



11                        Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Data Sources – Industry Estimates:
 Other sources
     • Labour expenses by industry – taxation data
     • Construction – capital expenditure survey for output
     • Financial industries – administrative data + enterprise
       survey data
     • Income tax data + occasional surveys




12                     Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Data Sources – Final Demand Estimates:
 Personal expenditures: retail trade survey + survey of household
  spending + service industry surveys + administrative data
 Capital expenditures: capital expenditure survey
 Investment in inventories: industry surveys
 Government current expenditures: public accounts
 International imports and exports: customs data (data exchange with
  USA) for merchandise, survey data for services
 Inter-provincial imports and exports: combination of survey data and
  modeling



13                       Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Balancing:
 National & provincial/territorial supply/use data are
  balanced in successive iterations
 National balancing adjustments serve as a guide for
  provincial/territorial adjustments
 Implications at provincial/territorial level provide
  feedback loop for re-adjusting national estimates (i.e.
  Petroleum extraction = 7% of national GDP, 31% of
  Alberta provincial GDP)


14                    Statistics Canada • Statistique Canada   21/07/2011
Part 2: Regional Input Output Tables

Deflation:
 Regional I/O tables are in C$ only.
 National I/O tables are deflated to K$.




15                 Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Topics
 Timing
 Benchmarking
 Detail
 Data Sources
 Deflation



16               Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Timing:
 Preliminary estimates published 4 months after
  reference period (i.e. 2008 estimates published April
  2009)
 Revised estimates for most recent 4 years published 7
  months later (i.e. 2005-2008 revised estimates published
  November 2009)
 Revisions incorporate most recent I/O tables + all other
  new information


17                   Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Timing (continued):
 National IEA revised estimates for most recent 4
  years published in May (i.e. 2005-2008 revised
  estimates published May 2009)
 Plan to move to single annual release of
  regional IEA, concurrent with national IEA by
  May 2013


18                Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Benchmarking:
 Regional IEA C$ benchmarked to regional I/O C$ (up to 2006 so far)
 Regional IEA C$ benchmarked to national IEA C$ (2007 & 2008)
 Regional IEA K$ benchmarked to national IEA K$ (all years)
 National IEA C$ benchmarked to national I/O C$
 National IEA K$ not benchmarked to national I/O K$
 National and regional GDP in IEA very similar to national and
  regional GDP by industry, but not identical




19                      Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Detail - Aggregates:
 GDP at market prices income based (C$) and
  expenditure based (C$ & K$)
 Net Domestic Product at basic prices(C$)




20               Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Detail - Income:
 Labour Income – 16 industrial sectors
 Corporate Profits – total economy; no industrial
  detail




21                Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Detail – Expenditures:
 Personal Expenditures: about 60 categories of
  goods and services
 Capital Expenditure:
     • Residential structures, buildings, engineering
       structures, 10 categories of machinery & equipment
     • All broken down by government and business



22                    Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Detail – Expenditures (continued):
 Imports and Exports: 9 goods categories, 5
  service categories




23                Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Detail – Sector Accounts:
 Sources and disposition of personal income
  (includes persons, unincorporated businesses
  and non-profit institutions serving households)
 Government sector tax revenue, investment
  income, transfer payments, subsidies




24                Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Data Sources:
 Corporate profits – quarterly survey of financial
  statements, income tax data
 Labour income – monthly household survey of
  labour force, monthly payroll survey,
  administrative data




25                 Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Data Sources (continued):
 Personal expenditures - monthly retail trade survey,
  annual survey of household spending, service industry
  surveys, administrative data
 Capital expenditures - annual capital expenditure survey,
  monthly construction payroll data, monthly
  manufacturing survey (shipments of building materials
  and machinery and equipment) and international trade
  data ( machinery and equipment)



26                   Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Data Sources (continued):
 International merchandise trade – monthly customs data
  (provincial allocation is challenging)
 International services trade – quarterly and annual
  surveys
 Inter-provincial trade – model based on input output
  tables trade flows & aggregate production and demand
  data



27                  Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Deflation:
 Personal expenditures – consumer price index
 Engineering construction expenditures – labour and
  material input prices
 Home & building construction expenditures – building
  price index
 Machinery and equipment – machinery and equipment
  price indexes



28                  Statistics Canada • Statistique Canada   21/07/2011
Part 3: Regional Income and Expenditure
        Accounts
Deflation:
 Government current expenditures – hourly wages of
  government employees
 Exports – unit values, domestic producer price indexes
  (exchange rate pass-through assumption)
 Imports - unit values, foreign producer price indexes
  (exchange rate pass-through assumption)




29                   Statistics Canada • Statistique Canada   21/07/2011
Part 4: Regional GDP by industry

Topics
 Timing
 Detail
 Data Sources
 Deflation




30               Statistics Canada • Statistique Canada   21/07/2011
Part 4: Regional GDP by industry

Timing:
 Same publication dates as the regional income
  and expenditure accounts




31               Statistics Canada • Statistique Canada   21/07/2011
Part 4: Regional GDP by industry

Detail:
 Same level of industry detail as found in the
   regional input-output tables




32                Statistics Canada • Statistique Canada   21/07/2011
Part 4: Regional GDP by industry

Data Sources:
 Monthly and annual industry surveys
 Monthly payroll survey
 Administrative data




33               Statistics Canada • Statistique Canada   21/07/2011
Part 4: Regional GDP by industry

Deflation:




34            Statistics Canada • Statistique Canada   21/07/2011
Reference Documents

 Guide to the Income and Expenditure Accounts, Catalogue no.
  13-017-X, www.statcan.gc.ca
 Gross Domestic Product by Industry Sources and Methods
  with Industry Details, Catalogue no. 15-548-XIE,
  www.statcan.gc.ca
 Chain Fisher Volume Index Methodology, Catalogue no. 13-604-
  MIE — No. 42, www.statcan.gc.ca




35                    Statistics Canada • Statistique Canada   21/07/2011

								
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