Latest Developments in the Canadian Economic Accounts


A preview of the 2019 revision of the Canadian System of Macroeconomic Accounts

Release date: May 30, 2019

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

Release date: May 21, 2019

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

Release date: May 3, 2019 Correction date: May 9, 2019

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

Release date: April 16, 2019

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

Release date: March 28, 2019

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

Release date: March 14, 2019

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

Release date: March 1, 2019

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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