Latest Developments in the Canadian Economic Accounts

2017

Measuring Canadian export diversification

Release date: December 11, 2017

Canada exports over $500 billion worth of merchandise trade annually. This reliance on foreign markets contributes undeniably to Canadian economic activity. However, there are a number of ways of analyzing Canada’s international trade, beyond simply measuring dollar values. One way, that often receives little attention, is to look at the degree of export diversification. Simply put, does an economy have one large customer or multiple customers, or does a country export one product or multiple products? Looking at international trade data through this lens provides additional information on the exposure of our domestic producers to risk beyond our borders, such as competitive pressures, commodity price and exchange rate volatility, as well as economic and political risk.

Canada's external trade classified by Broad Economic Categories

Release date: December 11, 2017

This study presents Canadian international trade data aggregated according to the Classification by Broad Economic Categories (BEC). The BEC classification provides users with a new perspective on Canada’s imports and exports. A key feature of the BEC classification is an end-use aggregation structure that is consistent with the three basic classes of goods in the System of National Accounts (SNA), namely, capital goods, intermediate goods and consumption goods.

The 2014 to 2016 revisions of the Income and Expenditure Accounts

Release date: December 1, 2017

This article describes the revisions to the Gross Domestic Product (GDP) by Income and by Expenditure Accounts for the period from 2014 to 2016. These data follow the November 2017 release of the 2016 Provincial and Territorial Economic Accounts estimates, which include revisions to the 2014 and 2015 period.

A cannabis economic account - The framework

Release date: November 21, 2017

Canada’s society and economy continue to grow and evolve. Statistics Canada strives to keep its programs up to date with changing trends and circumstances to ensure Canadians are well informed about current developments. This means Statistics Canada has to innovate and invest in the statistical system continuously. The prospective legalization of cannabis means Statistics Canada needs to start preparing Canada’s statistical system to capture the associated economic and social implications.

Foreign direct investment in Canada by ultimate investing country

Release date: October 2, 2017

With Canadian companies increasingly engaged in the global economy there is a growing demand for more detailed information on their international activities to better understand how Canadian businesses are expanding internationally and what the benefits and consequences are for Canada.

The 1986 to 2016 revisions of the National Tourism Indicators

Release date: September 28, 2017

Updated benchmarks from the 2012 Canadian Tourism Satellite Account (CTSA) were incorporated. Other sources of new and revised data and selected methodological changes were also introduced. This article will focus mostly on revisions beginning in 2012, the reference year of the most recent CTSA.

Preparing the statistical system for the legalization of cannabis

Release date: September 15, 2017

Statistics Canada is presently preparing the statistical system to be able to gauge the impact of the transition from illegal to legal recreational cannabis use and to shed light on the economic and social activities related to the use of cannabis thereafter. This paper provides a summary of the work that is now under way toward these ends.

Revision to quarterly Income and Expenditure Accounts: 1961 to 1980

Release date: August 31, 2017

Users of macroeconomic statistics require long time series in order to understand economic cycles, forecast and conduct economic modeling. In general the longer the time series the better users are able to understand the economy. Statistics Canada has been producing macroeconomic account statistics since the 1930s. Over the last 80 plus years these statistics have evolved due to the changing nature of the economy, the development of international macroeconomic accounting standards and the development of new statistical methods and processes.

Canada's merchandise trade with the U.S. by state

Release date: June 19, 2017

Trade patterns with the United States on a regional basis highlight the integration of industries between the two countries. Proximity, transport infrastructure and government policies have all contributed to these interdependencies. In 2016, 14 of Canada’s top 20 trading partners were US states.

Carbon Pricing in the Canadian System of Macroeconomic Accounts

Release date: May 31, 2017

The Pan-Canadian Framework on Clean Growth and Climate Change (the Pan-Canadian Framework) was introduced by the Government of Canada in 2016, in an effort to combat climate change (Environment and Climate Change Canada). Under the Framework, Canadian jurisdictions are required to price carbon emissions by 2018. Pricing is to be applied to a broad set of emission sources, so that Canada can meet its target for reductions in emissions of greenhouse gasses (GHGs), and to support innovation and clean growth. As per the Framework, the price should start at a minimum of $10 per tonne in 2018, and rise by $10 per tonne each year, so that it reaches $50 per tonne by 2022.

Treatment of duties applied to imports of Canadian softwood lumber products into the U.S. in the Canadian System of Macroeconomic Accounts

Release date: May 30, 2017

The Committee Overseeing Action for Lumber International Trade Investigations or Negotiations filed countervailing and anti-dumping duty petitions against Canadian softwood lumber producers with the United States (U.S.) Department of Commerce and the United States (U.S.) International Trade Commission on November 25, 2016. The petitions allege that Canadian softwood lumber producers benefit from government subsidies, particularly from harvesting trees from crown land below market value.

Measuring the sharing economy in the Canadian Macroeconomic Accounts

Release date: February 21, 2017

The “sharing economy” (SE) and “sharing economy” digital platforms have received a lot of attention lately from policy makers, businesses, the media and the public. The concept of the sharing economy is not new—people have been bartering and sharing goods and services throughout human history. Enabled by technology and social trends, the sharing economy is transforming the ways in which economic agents can produce and consume goods and services.

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