NATIONAL ACCOUNTS

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TurkStat

• NATIONAL ACCOUNTS
• IN TURKEY

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Contents
TurkStat

• 1-GDP Estimates
• 2-Revisions
• 3-Major Improvements
• 4-SNA Revision
• 5- Implementation process in Turkey
• 6- Main changes and actions to be taken

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TurkStat
GDP Estimates

• Gross Domestic Product (GDP) in Turkey had been
  started to calculate after the foundation of
  Central Statistical Office.
• Calculation of GDP are based on quarterly and
  annual data compiled by short term and annual
  surveys conducted by TurkStat.

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TurkStat
GDP Estimates

• Gross Domestic Product is estimated by
  production, expenditure and income approaches.

• The system consists of the following elements
• Value added by kind of economic activity at
  current and constant prices,
• Expenditure on GDP at current and constant
  prices,
• GDP by cost components at current

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Revisions
TurkStat

• Definitions, classifications and other
  methodological improvements,
• Improvements in data sources,
• Improvements in data collection.
•   Historical revisions of Turkish National
  Accounts
• Base Year 1948 (Published in 1950)
• Base Year 1968 (Published in 1972)
• Base Year 1987 (Published in 1993)
• Base Year 1998 (Published in 2008)
•  

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Major Improvements
TurkStat

• Improvements to the commodity flow system
• The identification of goods used in intermediate
  consumption, investment and household consumption
  was improved.
• Improvements in the methodology
• Some changes to concepts and definitions and
  calculating value added at basic prices were
  introduced.

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Major Improvements
TurkStat

• Improved Supply and Use tables for 2002, basis
  for benchmark year
• The 2002 Supply-Use and Input-Output Tables were
  the first tables compiled by the concepts,
  definitions and classifications of the ESA-95

• Financial Services
• Measurement of FISIM according to ESA 95 was
  applied.
• A portion of FISIM was allocated to final
  consumption.
• A portion of FISIM was allocated to intermediate
  consumption in GDP
• by production approach.
• Measurement of Central Bank output was developed

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Major Improvements
TurkStat

• Adoption of chain-linking method in constant
  price estimation
• Chain-linking method in constant price estimation
  was adopted
• Unit value indices at constant price estimation
  of exports/imports of goods were applied.
• Measurement at basic prices (GDP by Production
  Approach)
• The VAT (and other taxes and subsidies on
  products) are now shown as a separate component
  of GDP.

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Major Improvements
TurkStat

• Classification systems based on ESA 95 and other
  international standards
• New classification of industries (NACE) and
  private household consumption (COICOP) are used.
• Reclassification of some components of GDP by
  industries is used.
• Final Consumption Expenditure of Households is
  given in detail.
• Estimates for the non-observed economy were
  recalculated using more detailed data.

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SNA Revision
TurkStat

• The SNA is a statistical framework that details a
  set of macroeconomic accounts.
• SNA-2008 serves as an update to The System of
  National Accounts, 1993 (SNA-93).
• Revision at international level was followed by
  the revision at European level (ESA-1995 to
  ESA-2010).

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SNA Revision
TurkStat

• The aims of the revision
• To update of the system to better meet the
  economic development
• Smooth transition from previous system with not
  introducing fundamental and extensive changes
• Harmonization with related handbooks

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Implementation process in Turkey
TurkStat

• Questionnaires will be changed and developed
  according to the requirements for implementation,
• To achieve the objectives in the implementation
  of new SNA, TURKSTAT will pursue a general
  policy,
• A detailed description of sources and methods of
  compilation GDP will be prepared,

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Implementation process in Turkey
TurkStat

• Institutional sector accounts will be prepared,
• Changeover to the new classifications for annual
  and quarterly data will be realized,
• Backcasting of annual and quarterly GDP series
  will be realized,
• Non-observed economy estimates will be improved,

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Implementation process in Turkey
TurkStat

• Quarterly sector accounts will be developed,
• SUT and IOT tables will be compiled more
  frequently,
• National accounts database will be developed,
• Close cooperation with stakeholders will be
  improved,
• Number of trainings will be increased,
• Some projects have been proposed to Eurostat.

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Main changes and actions to be taken
TurkStat

• The main the main changes in SNA-08 with
  respect to SNA-93 can be classified in 5 sections
  as
• Assets
• Financial sector
• Globalization
• General government and public sector
• Informal sector

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Main changes and actions to be taken
TurkStat

• Assets
• The changes by treatment of natural resources and
  licenses and leases will be studied.
• Expenditures for weapon systems treated as
  capital formation and assets will be investigated
  but is difficult to implement in short or medium
  term.
• The concept of capital services is being
  investigated

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Main changes and actions to be taken
TurkStat

• Financial Sector
• Changes in treatment of financial derivatives and
  non-performing loans is being investigated
• Refined method of measurement of FISIM is being
  studied.
• Globalization
• Clearly defined guidelines for the treatment of
  companies and units operating in more countries
  is being investigated
• Treatment of remittances from the movements of
  persons abroad is being studied

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Main changes and actions to be taken
TurkStat

• Globalization
• Recording according to principle of change in
  ownership of goods will be investigated. The main
  issues are
• Difficulty in obtaining source data
• Difficulty in distinguishing goods for processing
  from other goods in external trade
• Treatment in supply and use table
• Recording of goods for processing and merchanting
  will be changed. There are some issues raised,
  including
• Lack of appropriate source data
• Difficulty with the conceptual notion of negative
  export
• Difficulty with coordination of balance of
  payment areas
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Main changes and actions to be taken
TurkStat

• General Government and Public Sector
• Additionally defined and clarified numerous
  principles due to changes of operations and in
  accounting standards are being investigated
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• Delineation of general government and public
  sector from other sectors will be applied
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• Informal Sector
• Informal sector and non-observed economy
  estimates will be improved

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Main changes and actions to be taken
TurkStat

• SNA-08 (ESA-2010) will be implemented in a medium
  or long term in TurkStat.
• TurkStat plans to implement these changes and
  publish data in 2015. As a result of
• Resource constraints
• Data limitations
• Methodological constraints

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TurkStat

• Thank you...

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