The Core Set of Economic Statistics

The stronger the statistical evidence we have, the better the policy decisions we can make for the economy including for the global 2030 Agenda. This is the simple rationale behind RPES which lays out the minimum set of economic statistics - the Core Set - that a country should produce for sound economic policy making. 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.