Latest Developments in the Canadian Economic Accounts
2019
An overview of revisions to the Financial and Wealth Accounts, 1990 to 2019
This article describes the revisions to the Financial Flow Accounts (FFA), the Other Changes in Assets Account (OCAA), and the National Balance Sheet Accounts (NBSA), collectively referred to as the Financial and Wealth Accounts (FWA), introduced as part of the 2019 comprehensive revision. These accounts are an integral part of the Canadian System of Macroeconomic Accounts (CSMA). This comprehensive revision was conducted to strengthen the overall quality and relevance of the data within the FWA and to introduce new concepts, methodologies, and classifications as recommended by international standards.
The 2016 to 2018 revisions of the Income and Expenditure Accounts
This article describes revisions to the Gross Domestic Product (GDP) by Income and by Expenditure Accounts for the 2016 to 2018 period. These data are released at the same time as the 2018 Provincial and Territorial Economic Accounts estimates, which include revisions to the time series.
Employment at multinational enterprises in Canada
Multinational enterprises (MNEs) are corporations with majority-owned operations in more than one country. In Canada, foreign MNEs (enterprises operating in Canada that are controlled by a foreign parent) and Canadian MNEs (Canadian-controlled enterprises with a foreign affiliate) together comprise around one percent of all corporate enterprises. Despite their relatively small number, MNEs play an important role in the Canadian economy as sources of jobs, capital and new technologies.
The 2015 to 2017 revisions of the Provincial and Territorial Real Gross Domestic Product by industry program
This article describes revisions of the Provincial and Territorial Gross Domestic Product (PTGDP) by industry program for the 2015 to 2017 period. These follow the November 8, 2018 release of the estimates for the program for the three reference years.
Wastewater-based estimates of cannabis and drug use in Canada: Analytical methods and supplementary information
This document is a supplement to The Daily article, Wastewater-based estimates of cannabis and drug use in Canada: Pilot-Test Results (citation). It describes the data analysis supporting the results of the article, including the statistical testing and the treatment of outliers and missing data. Additionally, for each of the parameters required to estimate drug consumption, the document provides the values and uncertainty that were used and references to the literature supporting those values.
The value of data in Canada: Experimental estimates
In this paper a preliminary set of statistical estimates of the amounts invested in Canadian data, databases and data science in recent years are presented. The results indicate rapid growth in investment in data, databases and data science over the last three decades and a significant accumulation of these kinds of capital over time.
Measuring investment in data, databases and data science: Conceptual framework
This paper aims to expand the current national accounting concepts and statistical methods for measuring data in order to shed light on some highly consequential changes in society that are related to the rising usage of data. The paper concludes by discussing possible methods that can be used to assign an economic value to the various elements in the information chain and tests these concepts and methods by presenting results for Canada as a first attempt to measure the value of data.
A preview of the 2019 revision of the Canadian System of Macroeconomic Accounts
This article describes the upcoming revisions (November 2019) in the Canadian Macroeconomic Accounts resulting from the inclusion of illegal cannabis production, consumption and distribution as well as statistical revisions of the international travel services. The paper highlights the impact of these revisions on Gross Domestic Product (GDP) and the balance of international payments (BOP).
Estimating cannabis consumption using markers in wastewater: methodological paper
This paper examines the parameters needed to calculate the mass of cannabis metabolites in wastewater, and the additional parameters needed to estimate the total quantity of cannabis consumed.
Measuring digital economic activities in Canada: Initial estimates
As technological advancement continues and digitalization rapidly expands to affect more segments of the economy, there is an increasing need to accurately measure and assess its impacts. Statistics Canada is responding to this challenge by working towards defining and measuring the economic value of the digital economic activities in Canada, the provinces and territories. This paper presents Statistics Canada’s working definition of the digital economy as well as initial estimates on the output, gross domestic product (GDP) and jobs associated with those activities.
Enhancing Canada’s statistics on securities
Over the past decade, particularly in the wake of the global financial crisis, there has been increasing pressure for national statistical offices and central banks to enhance their financial statistics. The last global financial crisis revealed some important data gaps in countries’ statistics to properly assess the build-up of risk and the interconnectedness in financial markets.
The 2015 to 2018 revisions of the National Tourism Indicators
The revisions to the National Tourism Indicators are the result of new benchmarks from the 2015 supply and use tables and revisions to the Canadian System of Macroeconomic Accounts. Constant dollar estimates were also updated to base year 2012.
Measuring private short-term accommodation in Canada
Statistics Canada continuously works to ensure that economic measures reflect our reality, including new and emerging activities such as the private short-term accommodation market. The Canadian Macroeconomic Accounts have developed provisional estimates of the private short-term accommodation market in Canada, the provinces and territories. This paper outlines an innovative approach to measuring this activity using web-scrapped data. In addition to providing provisional estimates of the overall market, this paper contains detailed analysis of the largest private accommodation digital platform used in Canada. Finally, it summarizes the approach taken for incorporating the data into various macroeconomic measures, such as gross domestic product (GDP).
Incorporating the cannabis market in the national economic accounts, fourth quarter 2018
The fourth quarter 2018 release of the national economic accounts includes estimates of the legal and illegal economic activities related to cannabis production, distribution and consumption for non-medical and medical use. Prior to this release, only the production, distribution and consumption activities related to legal use for medical purposes were recorded.
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