5310.0.55.002 - Information Paper: Implementation of new international statistical standards in ABS National and International Accounts, September 2009

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/10/2009 First Issue

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Contents In this issue Chapter 1 Introduction Chapter 2 Changes to International Standards Chapter 3 Indicative Impacts on National Accounts Chapter 4 Indicative Impacts on International Accounts Chapter 5 Ongoing Research and Divergence Issues Chapter 6 Research & Development Chapter 7 Military expenditure Chapter 8 Orchard Growth Chapter 9 Reinvested Earnings of Investment Funds Chapter 10 Pension Funds in the Balance of Payments Chapter 11 Insurance in the Balance of Payments Chapter 12 Improved measures of Financial Intermediation Services Indirectly Measured (FISIM) in the international accounts Chapter 13 Other volume changes due to changes in residency About this Release	CHAPTER 1 INTRODUCTION INTRODUCTION The ABS produces Australia's System of National Accounts (ASNA), Balance of Payments (BoP) and International Investment Position (IIP). These statistics are compiled in accordance with international standards and related classifications. The international standards and related classifications have been revised, resulting in changes to these statistics. This paper focuses on the impact of implementing the revised international standards and related classifications with: Chapter 2 describing the main changes to the international standards and related classifications, the System of National Accounts 2008 (SNA08), the Balance of Payments and International Investment Position Manual sixth edition (BPM6), the Australian and New Zealand Standard Industrial Classification 2006 (ANZSIC06) and the Standard Economic Sector Classifications of Australia 2008 (SESCA08); Chapters 3 and 4 describing and quantifying the major changes that will be implemented in the ASNA, and the BoP and IIP; Chapter 5 describing the changes in the standards ABS is still to implement or will not be implementing; Chapters 6 through 13 presenting concepts, sources and methods for a selection of the more significant changes. The estimates presented in this publication provide a preliminary indication of the magnitude of changes to selected series. These estimates are subject to revision. A full set of estimates compiled according to the revised standards and classifications will be published in the annual 2008-09 ASNA publication, and with the September quarter 2009 releases occurring progressively through to the end of December 2009. The following sources of related information, available from the ABS website, provide further details or outline the revised outputs that will be presented. 5310.0.55.001 Information Paper: Introduction of revised international statistical standards in ABS economic statistics in 2009, 2007 1295.0.55.001 Information Paper: Update on ANZSIC 2006 Implementation, 2008 1218.0 Standard Economic Sector Classifications of Australia (SESCA), 2008 5368.0.55.012 Revisions to international standards in monthly international trade in goods and services statistics from August 2009, 2009 5368.0.55.014 Impact of revised international standards on monthly International Trade in Goods and Services, August 2009, 2009 5302.0.55.002 Revisions to international standards in quarterly Balance of Payments and International Investment Position statistics from September 2009, 2009 5204.0.55.002 Information Paper: Product changes to Australian System of National Accounts following revisions to international standards, 2009 5206.0.55.002 Information Paper: Product changes to National Income, Expenditure and Product following revisions to international standards, 2009 5220.0.55.004 Information Paper: Product changes to State Accounts following revisions to international standards, 2009 5232.0.55.003 Information Paper: Product changes to Financial Accounts following revisions to international standards, 2009 Document Selection These documents will be presented in a new window.