Latest Developments in the Canadian Economic Accounts


An overview of revisions to the Financial and Wealth Accounts, 1990 to 2021

Release date: December 10, 2021

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 2021 Comprehensive Revision. These accounts are an integral part of the Canadian System of Macroeconomic Accounts (CSMA). This exercise was conducted to strengthen the overall quality and relevance of the FWA program and to introduce new concepts, methodologies, and classifications as recommended by international standards.

The 2018 to 2020 Revisions of the Income and Expenditure Accounts

Release date: November 30, 2021

This article presents revisions to the gross domestic product by income and by expenditure accounts for the 2018-to-2020 period. These revisions were also reflected in the 2020 Provincial and Territorial Economic Accounts estimates, which were released on November 9, 2021.

The 1986 to 2020 revisions of the National Tourism Indicators

Release date: September 29, 2021

This article explains the impact of new and revised data on the National Tourism Indicators. Indeed, with the release of the first quarter 2021 estimates of the National Tourism Indicators in June 2021, all data were revised from the first quarter of 1986 to the fourth quarter of 2020, updated benchmarks from the 2017 Provincial and Territorial Tourism Satellite Account were incorporated, and other sources of new and revised data and some methodological changes were introduced as well.

Trends in Canadian business debt financing: Before and during COVID-19

Release date: July 26, 2021

COVID-19's impact on the economy was far reaching. Canadian businesses borrowed money from multiple sources to help guide them through the pandemic. Using data derived from the National Economic Accounts Division, Bank of Canada, and International Accounts and Trade Division this paper examines trends observed in the business debt financing market leading up to and during the COVID-19 pandemic.

Recording new COVID-19 measures in the national accounts

Release date: March 2, 2021

With the conclusion of the Canada Emergency Response Benefit (CERB) and the Canada Emergency Commercial Rent Assistance (CECRA) in September 2020, the federal government launched new assistance programs to ensure that Canadians continue to receive the financial support that they need during the pandemic.  Replacing the CERB are three programs:  the Canada Recovery Benefit (CRB), the Canada Recovery Sickness Benefit (CRSB) and the Canada Recovery Caregiving Benefit (CRCB).  Replacing the CECRA is the Canada Emergency Rent Subsidy (CERS).  While the CERB replacement measures will be reflected as transfers to households, CERS will be impacting businesses, non-profits and charities and will be reflected as subsidies on production in the case of businesses and as transfers in the case of non-profits.  The impact of these four new programs will be reflected in the national accounts estimates starting with the Gross Domestic Product (GDP) release or the fourth quarter of 2020 on March 2, 2021.

An earlier document on the treatment of COVID-19 measures in the national accounts was published at the same time as the GDP release for the second quarter of 2020 on August 28, 2020.

Impact of COVID-19 on merchandise imports: evidence based on end-use goods

Release date: February 2, 2021

This paper analyses the impact of the pandemic of COVID-19 on international merchandise imports, using monthly broad economic categories data and comparing the first half of 2019 with the first half of 2020.

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