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Economy

Introduction

Reliable and comparable economic statistics provide insights into the economic development and well-being of households, businesses and countries. We develop recommendations and guidelines on economic statistics and support their implementation in countries. We help countries improve their capacity to produce high-quality economic statistics.

Key areas of work

National Accounts

Price Indices

Business Registers

Quality and Forms of Employment

Other areas in economy

In focus

The System of National Accounts (SNA) is the key macroeconomic statistical standard for measuring Gross Domestic Product (GDP) and other indicators like national income, investment, savings, and government deficit. These indicators are essential for policymaking and economic analysis. However, the global economy is evolving, with challenges arising from globalization, digitalization, and the growing importance of Intellectual Property Products. New demands are emerging for linking economic development with environmental sustainability and wellbeing. The 'Beyond GDP' initiative, led by United Nations Secretary-General António Guterres and the 2030 Agenda for Sustainable Development. To revise these challenges the SNA is being revised and will offer a consistent, internationally-agreed framework connecting traditional and new measures, such as the distribution of household income, the informal economy, wellbeing and environmental sustainability This revision process is led by international organizations, including the UN, IMF, World Bank, Eurostat and OECD, with consultations from experts and officials across all UN Member States. The new SNA is prepared for adoption by UNSC in March 2025. UNECE has been facilitating and coordinating the consultation of the SNA update recommendations in its member countries and will assist the implementation of the new standard in the region.

Highlights

The 2015 Handbook on Measuring Quality of Employment will be updated to include the latest developments in the labour market, new forms of employment and the recently adopted international standards on employment statistics.
A dedicated Task Force is currently working to develop practical guidelines on the measurement of well-being for countries that produce or consider producing multidimensional well-being indicators.
A group of experts is drafting a set of guidelines on the classification of goods and services in the consumer price index (CPI) to support countries in implementing the 2018 version of the Classification of Individual Consumption according to Purpose (COICOP-18).
In June 2024 the Conference of European Statisticians discussed the implementation of the 2025 System of National Accounts and concluded this will be a challenging process requiring significant resources and cooperation within and between countries. There is a need for an internationally agreed implementation strategy and a roadmap. UNECE Steering Group on National Accounts will develop a proposal with activities in support of 2025 SNA implementation.