HomePress release, 30.09.2014.

Press release, 30.09.2014.

Methodological change in calculation of gross domestic product (GDP) and in compilation of national accounts

 

The member countries of the European Union compile national accounts according to a revised methodology from September 2014. The Hungarian Central Statistical Office (HCSO) made the calculations in line with the new methodology, in compliance with the Regulation of the European Parliament and of the Council, adopted in May 2013. The data in line with the revised requirements, the aggregates of which are issued in the indicators of gross domestic product (GDP) and gross national income (GNI), come out in our publication titled “National accounts of Hungary, 2013 (preliminary data)”. Our tables available on the website of HCSO are also updated in addition to this publication. The publication covering the whole data stock of national accounts, containing detailed data, will be available on our website at the end of November.

 

National accounts form a central component in the modern system of economic statistics and offer a systematised statistical framework for the aggregation and analysis of economic trends. In order to be capable of filling this role entirely and of meeting changing needs of users, it must operate as an up-to-date system. These factors led to the updating and revision of the methodology applied to date.

 

The methodological requirements of ESA2010 (European System of Accounts) replace the formerly applied, ESA95 system. The new methodology follows up changes in economic environment, takes into consideration new results in research activities and new needs of users.

 

The new methodology leaves the most important characteristics and basic features of the system of national accounts untouched, at the same time reflects changes in economic life in the past twenty years. It takes into account the spread of information and communication technologies in production processes, the increasing role of intangible assets and intellectual property products and the strengthening of globalisation. The reflection of these trends in national economic accounts means necessary changes instead of revolutionary ones.

 

As a consequence of changes – in order to ensure comparability – the basic macro-statistical indicators of EU member countries for the earlier period are modified, so the values of the two key indicators, GDP and GNI, as well as the values of these indicators expressed as percentages may change.

The new methodological requirements are in harmony with SNA2008, the methodology of national accounts published by the UN, adopted and applied all over the world, thus ensuring the global comparability of macro-statistical indicators. The new system is also consistent with the balance of payments statistics (BPM6) of the International Monetary Fund (IMF).

 

Hungarian Central Statistical Office

H-1024 Budapest, Keleti Károly u. 5-7. Phone: +36 (1) 345 6000
Postal address: P.O.B. 51 Budapest, H-1525
http://www.ksh.hu