Latest Developments in the Canadian Economic Accounts
2024
An overview of the revisions to the Financial and Wealth Accounts, 2020 to 2024
This article describes the revisions to the Financial Flow Accounts, the Other Changes in Assets Account and the National Balance Sheet Accounts, collectively called the Financial and Wealth Accounts (FWA), introduced as part of the 2024 comprehensive revision. These accounts are integral to the Canadian System of Macroeconomic Accounts. 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 Fiscal Arrangements Process at Statistics Canada
The Government of Canada provides significant financial support to provincial and territorial governments on an ongoing basis to assist them in the provision of programs and services. The transfers are under the responsibility of the Minister of Finance who performs transfer calculations using data from multiple sources that include a large amount of Statistics Canada data. Statistics Canada’s role is to provide data pertaining to the population, government revenues, the measurement of tax bases and the economy, for the federal government to calculate the transfers to the provinces and territories every year.
The 2021 to 2023 Revisions of the Income and Expenditure Accounts
This article presents revisions to the Gross Domestic Product (GDP) by Income and by Expenditure from the Income and Expenditure Accounts (IEA) for the 2021 to 2023 period. These revisions were reflected in the 2023 Provincial and Territorial Economic Accounts estimates, released on November 7, 2024.
Revisions to 2022 and 2023 exports of travel services
This article presents revisions to 2022 and 2023 exports of travel services, focusing mainly on integrating new estimates of the expenditures of temporary foreign workers in Canada. These revisions are reflected in the 2023 annual estimates of international trade in services, released on November 12, 2024.
The 2020 to 2023 revisions of the National Tourism Indicators
With the release of the fourth quarter 2023 estimates of the National Tourism Indicators (NTI) in March 2024, data were updated from the first quarter of 2020 to the third quarter of 2023 to align with the latest Canadian System of Macroeconomic Accounts (CSMA) annual updates. Estimates for all of 2023, including the fourth quarter, were subsequently updated with the release of the NTI first quarter of 2024 estimates in June 2024. This article outlines the impact of the updated data from the Canadian System of Macroeconomic Accounts that was introduced during this last revision of the NTI.
Labour productivity measurement at Statistics Canada
The document focuses on the evolution of Statistics Canada's labour productivity program, tracing its historical background, outlining its structure, as well as detailing the methodology and data sources used. It then discusses the diverse applications of provincial productivity data, identifies key users of productivity statistics, and highlights essential considerations for their interpretation. Finally, the document addresses the review process for quarterly and annual productivity measures and recent program improvements.
Revisions to Canada’s GDP
This article describes the reasons why updates (revisions) are made to Canada's GDP estimates. It provides an overview of the way that the monthly, quarterly, and annual GDP products are revised as more comprehensive data and better statistical methods are used to compile the statistics.
Guide to Canadian International Merchandise Trade Statistics
This guide presents information to enhance an understanding of Canadian International Merchandise Trade statistics. It provides essential definitions, describes key concepts and methodology, and outlines data processes. An overview of the published data, including descriptions of product, industry, and geographical classifications, is provided along with links to the products where these data are available.
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