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Macroeconomic statistics

GOPA Luxembourg expertise in Macroeconomic statistics

GOPA Luxembourg provides technical and methodological support in National Accounts Statistics and Price statistics, covering theoretical and practical aspects in the compilation of national accounts based on the conceptual framework of the the System of National Accounts 2008 (SNA 2008) and European System of Accounts 2010 (ESA 2010).

The company’s in-house qualified staff aims to support statistical offices around the world in methodological and compilation issues in annual and quarterly gross domestic product both at current prices and in volume terms, the sequence of accounts for transactions and other flows as well as balance sheets.  Our team provide support to adapt and align the data sources and compilation methods in National Accounts and Balance of Payment statistics in order to eliminate the discrepancies between both domains. It includes a wide range of domains and variables such as, International trade in goods statistics (ITGS), International trade in services (ITSS), Structural Business statistics (SBS), Manufacturers’ sale of goods (prodcom), Short term statistics (STS) and any other supplementary information like VAT, enterprises financial reports, Outward Foreign Affiliates Statistics (OFATS) etc.

We cover the main concepts involving transactions, other economic flows, stocks, institutional units, classifications and main macroeconomic aggregates measured by the system. Furthermore, GOPA Luxembourg is specialized in the treatment of Royalties and Special Purpose Entities (SPEs), within the National Accounts concepts.

GOPA Luxembourg emphasizes to provide assistance in specific topics related to goods and services transactions, including supply and use framework, inventory valuation adjustment, consumption of fixed capital, non-observed and informal economy, global supply chains and the digital economy. We elaborate best strategies in data collection for solving inconsistences, with Multi National Enterprises (MNEs) data, in the scope of Large Cases Unit (LCU).

Our dedicated team will not only ensure the delivery of the knowledge and experience necessary to improve macroeconomic statistics, but will also effectively enhance macroeconomic policy-making of a country.

Flagship projects in Macroeconomic statistics

GOPA Luxembourg place focus on macroeconomic statistics and more specifically National Accounts statistics. Within this purpose, GOPA Luxembourg is proudly involved in supporting the National Institute of Statistics and Economic Studies of the Grand Duchy of Luxembourg (STATEC) in two different projects, which aim to modernize the macroeconomic statistics in Luxembourg.

Project A: National accounts, sector accounts, balance of payments statistics

The cooperation for this project dates from year 2018 and has the objective to improve on one hand the methodology, analysis and processing of high quality statistical data and on the other hand to further harmonize the National accounts statistics with the European System of Accounts (ESA 2010) and with the code of good practice for European Statistics. Moreover, the specific objective of this project is to contribute to the methodological strengthening of the Luxembourgish statistical system.

To achieve these objectives, GOPA Luxembourg’s highly skilled in-house experts are intervening in various key areas of National Accounts, to ensure a results-oriented support.

Project B: National Accounts- the new generation

This project started in 2019 and is being implemented with the strategic alliance between GOPA and KPMG. The NATNG project touches the core business of the Macroeconomic statistics and aims at a substantial modernization of the system and processes for compiling national accounts, both from a technical and an organizational point of view for STATEC. More specifically the project aims to make the optimization of calculation processes, optimization of quality assurances processes, modernization of calculations tools, the acceleration in calculation executions and ensuring the integrity of procedures.

GOPA Luxembourg’s involvement relates with our experience in expertizing within the National Accounts framework. Moreover with:

  • Extensive knowledge of STATEC and its macroeconomic divisions
  • Expertise in national accounts and statistical information systems, in particular:
    • European System of Accounts (ESA2010)
    • Methodologies for compiling National Accounts
    • Transition to the European System of Accounts (ESA 2010) in force
    • Data processing: data entry and quality control, database organization
    • Data analysis and dissemination: publications, graphics
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