Georgian Quarterly National Accounts and time-series of Short Term Statistics indicators

1. Georgian Quarterly National Accounts and time-series of Short Term Statistics indicators Levan Gogoberishvili Head of National Accounts Division, Geostat

2. Quarterly National Accounts • Quarterly National Accounts (QNA) have been implemented in Georgia since 1996. • The recommendations of SNA 93 (the system of National Accounts) is the base Methodology for compilation of QNA.

3. Data sources • Business Survey (Quarterly and annual); • Household Budget Survey (Quarterly); • Labor Force Survey (Quarterly) • Agricultural Survey (Quarterly and annual); • Survey on Consumer Prices (Monthly); • Survey on Producer Prices (Monthly); • The Balance of Payments (Quarterly); • Administrative data from the Ministry of Finance (monthly); • Data of commercial banks from the National Bank of Georgia (Monthly).

4. Timeliness of Data sources • Business Survey – 65th day after the end of quarter; • Household Budget Survey – 65th day after the end of quarter; • Labor Force Survey – 65th day after the end of quarter; • Agricultural Survey – 60th day after the end of quarter; • Consumer Price Indices – third day after the end of month; • Producer Price Indices – 15th day after the end of month; • The Balance of Payments – 90th day after the end of quarter. Main data are available only quarterly. However, some data are available on monthly basis.

5. Timeliness of QNA Gross Domestic Product is published on 80th day after the end of quarter. Gross National income and National Accounts Balance sheets are published on 90th day after the end of quarter. The users of National Accounts data are interested to get information much earlier than publication date. Therefore, they use some forecasts based on monthly data. Geostat does not make forecasts, however we publish pres-releases of “Monthly Economic Statistics”, which include available monthly data.

6. Indicators of Monthly Economic Statistics • Consumer Price Index • Producer Price Index • Exports of Goods • Imports of Goods • Number of currently registered enterprises • Value Added Tax (VAT) payers’ turnover • Growth of VAT payers’ turnover • Expense and revenue of state budget • Total Output of Commercial Banks • Total Output of National Bank

7. Gross Domestic Product (GDP) GDP in current prices by 3 approaches: • Production • Expenditure • Income GDP in constant prices - available only by production approach. 2003 is considered as the base year.

8. GDP at current prices

9. GDP at current prices

10. GDP at constant 2003 prices

11. Industrial Production Index Industrial Production Indices cover C, D and E sections of NACE. C – Mining and quarrying D – Manufacturing E – Electricity, gas and water supply Total output for this activities is the base indicator for calculations. Producer’ Price Indices (PPI) are use for deflation of industrial output. 2001 is the base year for chain-linking. Total output of Industrial activities are used as weights. Seasonally adjusted time series are obtained by using tramo/seats method of program “Demetra”. However, it does not take into account national holidays.

12. Industrial Production Index

13. Industrial Production Index

14. Future activities • We are planning to calculate IPI for more detailed level of industrial activities (2 and 3 digit levels of NACE) • Improvement of seasonal adjustment, including in it national holidays.