D1,3.canada's ptea

Arthur Berger Regional Products and Income Accounts, Beijing, China, 15-19 March 2010 Canada’s Provincial and Territorial Economic Accounts

Outline
Regional Economic Accounts: Canadian context
Regional Input Output Tables
Regional Income and Expenditure Accounts
Regional GDP by industry
23/04/10 Statistics Canada • Statistique Canada

Part 1: Canadian context
Principles for Canadian regional accounts :
Integration of accounts – Input Output, Income & Expenditure Accounts, GDP by industry
Standardization – common survey frame, classification systems, chart of accounts
Coherence – establish control totals & adjust detail to add up to total
Use administrative data and survey data

Part 1: Canadian context
Legislative Requirements:
Value added tax collected by federal government on behalf of provinces, allocated to those provinces based on regional economic accounts expenditure estimates
Federal transfer payments to provincial governments also based on regional accounts data

Part 2: Regional Input Output Tables
Topics
Timing
Detail
Benchmarking role
Data sources
Balancing
Deflation

Timing:
Annual regional Input Output tables are published 34 months after the reference period
For example, 2006 I/O tables were published in November 2009
National I/O tables are published concurrently with the regional tables
Most source data available 15 months after reference period, but some as late as 24 months

Detail:
Regional I/O tables are broken down into 300 industries, 727 commodities, 170 final demand categories
This is the same detail found in the national I/O tables

Imports & Exports Detail:
727 commodities
13 provinces and territories + rest of world
Example: exports of bank and investment commissions from Ontario province to Quebec province were $600M in 2006

Benchmarking Role:
Regional I/O tables provide C$ benchmark for regional income and expenditure based GDP, and regional value added by industry
Regional I/O tables add-up to the national I/O tables
National K$ I/O tables provide benchmark for national real GDP by industry

Data Sources:
Industry estimates
Final demand estimates

Data Sources – Industry Estimates:
Annual surveys, mostly establishment based, sampling designed to produce accurate estimates by province
Samples are usually divided into three strata:
take all (large companies that operate in more than one industry and/or more than one province)
take some (medium sized companies)
take none (smaller companies that operate in only one province and only one industry)
Income tax data is used for take none stratum

Data Sources – Industry Estimates:
Other sources
Labour expenses by industry – taxation data
Construction – capital expenditure survey for output
Financial industries – administrative data + enterprise survey data
Income tax data + occasional surveys

Data Sources – Final Demand Estimates:
Personal expenditures: retail trade survey + survey of household spending + service industry surveys + administrative data
Capital expenditures: capital expenditure survey
Investment in inventories: industry surveys
Government current expenditures: public accounts
International imports and exports: customs data (data exchange with USA) for merchandise, survey data for services
Inter-provincial imports and exports: combination of survey data and modeling

Balancing:
National & provincial/territorial supply/use data are balanced in successive iterations
National balancing adjustments serve as a guide for provincial/territorial adjustments
Implications at provincial/territorial level provide feedback loop for re-adjusting national estimates (i.e. Petroleum extraction = 7% of national GDP, 31% of Alberta provincial GDP)

Deflation:
Regional I/O tables are in C$ only.
National I/O tables are deflated to K$.

Part 3: Regional Income and Expenditure Accounts
Topics
Timing
Benchmarking
Detail
Data Sources
Deflation

Timing:
Preliminary estimates published 4 months after reference period (i.e. 2008 estimates published April 2009)
Revised estimates for most recent 4 years published 7 months later (i.e. 2005-2008 revised estimates published November 2009)
Revisions incorporate most recent I/O tables + all other new information

Timing (continued):
National IEA revised estimates for most recent 4 years published in May (i.e. 2005-2008 revised estimates published May 2009)
Plan to move to single annual release of regional IEA, concurrent with national IEA by May 2013

Benchmarking:
Regional IEA C$ benchmarked to regional I/O C$ (up to 2006 so far)
Regional IEA C$ benchmarked to national IEA C$ (2007 & 2008)
Regional IEA K$ benchmarked to national IEA K$ (all years)
National IEA C$ benchmarked to national I/O C$
National IEA K$ not benchmarked to national I/O K$
National and regional GDP in IEA very similar to national and regional GDP by industry, but not identical

Detail - Aggregates:
GDP at market prices income based (C$) and expenditure based (C$ & K$)
Net Domestic Product at basic prices(C$)

Detail - Income:
Labour Income – 16 industrial sectors
Corporate Profits – total economy; no industrial detail

Detail – Expenditures:
Personal Expenditures: about 60 categories of goods and services
Capital Expenditure:
Residential structures, buildings, engineering structures, 10 categories of machinery & equipment
All broken down by government and business

Detail – Expenditures (continued):
Imports and Exports: 9 goods categories, 5 service categories

Detail – Sector Accounts:
Sources and disposition of personal income (includes persons, unincorporated businesses and non-profit institutions serving households)
Government sector tax revenue, investment income, transfer payments, subsidies

Data Sources:
Corporate profits – quarterly survey of financial statements, income tax data
Labour income – monthly household survey of labour force, monthly payroll survey, administrative data

Data Sources (continued):
Personal expenditures - monthly retail trade survey, annual survey of household spending, service industry surveys, administrative data
Capital expenditures - annual capital expenditure survey, monthly construction payroll data, monthly manufacturing survey (shipments of building materials and machinery and equipment) and international trade data ( machinery and equipment)

Data Sources (continued):
International merchandise trade – monthly customs data (provincial allocation is challenging)
International services trade – quarterly and annual surveys
Inter-provincial trade – model based on input output tables trade flows & aggregate production and demand data

Deflation:
Personal expenditures – consumer price index
Engineering construction expenditures – labour and material input prices
Home & building construction expenditures – building price index
Machinery and equipment – machinery and equipment price indexes

Deflation:
Government current expenditures – hourly wages of government employees
Exports – unit values, domestic producer price indexes (exchange rate pass-through assumption)
Imports - unit values, foreign producer price indexes (exchange rate pass-through assumption)

Part 4: Regional GDP by industry
Topics
Timing
Detail
Data Sources
Deflation

Timing:
Same publication dates as the regional income and expenditure accounts

Detail:
Same level of industry detail as found in the regional input-output tables

Data Sources:
Monthly and annual industry surveys
Monthly payroll survey
Administrative data

Deflation:

Reference Documents
Guide to the Income and Expenditure Accounts, Catalogue no. 13-017-X, www.statcan.gc.ca
Gross Domestic Product by Industry Sources and Methods with Industry Details, Catalogue no. 15-548-XIE, www.statcan.gc.ca
Chain Fisher Volume Index Methodology, Catalogue no. 13-604-MIE — No. 42, www.statcan.gc.ca

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