The Core Set of Economic Statistics

The Core Set of economic statistics was designed by countries and development partners at the request of the ESCAP Committee on Statistics in 2009 and later endorsed by the Committee Committee on Statistics in 2010, i.e. the heads of National Statistical Offices.

The Core Set of economic statistics, developed as a common regional guideline, determines the capabilities of national statistical systems required to produce economic statistics, and defines the scope and approaches of the regional programme on Economic Statistics. The regional programme is, in turn, expected to inform and unify both countries’ and development partners’ capacity-building initiatives.

The Core Set of key structural and high frequency statistics within various domains of economic statistics, each of which is described by its desired minimum frequency and relevant existing international standard and/or guideline. The Core Set comprises seven components or areas of economic statistics.

PRICES AND COSTS: Consumer, producer and product price indices to analyze price changes; average and unit labour costs and earnings/wages; terms of trade; and exchange rates/purchasing power parities. 

DEMAND AND OUTPUT: GDP production and expenditure accounts in current and constant prices; external trade; industrial structure statistics; short-term indicators (industry output and demand); and productivity.

INCOME AND WEALTH: National accounts for the economy and by sector to measure income, savings, investment, accumulation and wealth; balance of payments to measure international income and capital flows; international investment position and external debt.

MONEY AND BANKING: Assets and liabilities of the banking sector, monetary measures and interest rates.  

GOVERNMENT: Revenue and expenditure, borrowing and lending, government accounts based on the System of National Accounts and/or Government Finance Statistics.

LABOUR MARKET: Labour supply and demand, characteristics of labour force, employment, unemployment, underemployment, hours worked, employment in the formal/informal sector, job creation and vacancies.

NATURAL RESOURCES AND ENVIRONMENT: Measures of sustainable economic growth, discovery,depletion and degradation of natural assets.