Statisticians in the ECE region have been addressing the phenomenon of the new economy and the risks involved in not measuring its economic, environmental and social impacts and trends. They met to discuss this issue amongst others at the annual meeting of Heads of National Statistical Offices in Europe and North America, the Conference of the European Statisticians, held in Geneva from 11-13 June, 2001.

Many associate the new economy with the impact of technological innovation, mainly in the area of Information and Communication Technologies (ICTs), which has flourished over the last few decades. Researchers have attempted to measure the impact of the new economy on the economic growth in the United States. They have estimated that the direct contributions of high-tech products such as computers, software, and telecommunications to real GDP growth (1995-2000) represent 1.20 percentage points of the average annual 4.1 percent growth in real GDP. Other researches have estimated that the high-tech industries accounted for more than one-third of real GDP growth in 1995-1998.

The ICTs have also contributed to the development of the ‘network economy’. The infrastructure of ICTs is increasingly binding together the economic and social actors of the 21^st century. It facilitates the links between suppliers and firms, between firms and clients, between governments and constituents, and binds them together into a network economy. In Canada, the government is promoting the network economy with the aim that by 2004, Canada will be known for the electronic connection between the government and its citizens.

There is continuing work on defining the new economy and its measurement. Significant progress has been made in developing new standards and creating task forces addressing issues such as: complications in measuring output and productivity when ICT’s are included; the best way to define the role of science and technology in economic growth and competition; defining the ICT sector as an activity, a set of products or a type of a transaction; measuring the activities of multinational enterprises, high-skilled labour, and its international mobility.

The Organisation of Economic Co-operation and Development (OECD) has been elaborating concepts and definitions to support data collection and comparison for the network economy. At Eurostat, the statistical office of the European Union, a cross-survey of the use of electronic commerce by businesses, which is seen as an indicator of participation in the network economy, was launched.

"The paradox is that statisticians are often expected to produce a complete list of indicators on the new economy almost overnight. This task is being made more difficult, as basic data concerning innovation and technological change are incomplete and countries are reluctant to invest the necessary resources to improve statistical capacity. This is particularly the case for transition economies and the countries’ application for membership into the EU", says Paolo Garonna, Director of the UNECE Statistical Division.

More information on questions raised by Canada, United States and OECD, and the issues discussed by the Conference of the European Statisticians can be found on the web site: