Support to National Accounts and BOP, Prices and Social Statistics in Luxembourg
GOPA Luxembourg has been awarded a new three-year framework contract to provide support to the National Institute of Statistics and Economic Studies of the Grand Duchy of Luxembourg (STATEC).
Overall, the project includes strengthening the national expertise to produce high-quality statistics and effectively implementing the European Statistics Code of Practice. The support is carried out by GOPA team members through long mission as intra-muros experts or through targeted short intervention s providing advanced methodological support to its STATEC counterparts.
Generally, the service contract focuses on three statistical areas which belong to the core competences of GOPA Luxembourg:
- National accounts and balance of payments;
- Price statistics, and;
- Social statistics.
In the area of macroeconomics statistics, the project consists of specific support to compilers of national accounts, balance of payments on methodological and practical issues related to global production such as:
- Analysis and improvement of the consistency between Luxembourg’s balance of payments statistics and the external account of national accounts;
- Better coverage and separate data on employee stock options, prices of financial services and data for margins on buying and selling transactions in financial services;
- Treatment and recording of standardised guarantees.
The GOPA team therefore also supports the efficient production of robust Quarterly Sectoral Accounts (QSA) and the integration of new classifications in the whole process of the compilation of national accounts.
In the second project, GOPA team supports a topical subject in price statistics regarding the use of scanner data to compile consumer price indices (CPIs). The use of such data sources like scanner data shall contribute to CPIs with higher accuracy due to bigger samples.
Finally, this three-year project supports STATEC with high level expertise in social statistics to provide input on the future development of EU-SILC and its implementation, and will thus improve the relevance of Luxembourg’s social statistics, which is a high priority for STATEC.