Recalculation of gross domestic product according to new methodology has been finished

01.10.2015

Central Statistical Bureau (CSB) has finished recalculation of annual national accounts time series from 1995. Recalculated annual estimation data are published in the CSB database in section “Gross Domestic Product”.

Recalculation of quarterly GDP estimates in total on 82 quarters is planned to be finished until 26 October of this year. As calculation of GDP of 2014 is based on quarterly data sources (i.e. year is total of quarters), changes in estimate of GDP of 2014 are possible.

The recalculation was carried out to implement transformation of the data of the system of national accounts according to new methodological principles in compliance with the Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the requirements of the European system of national and regional accounts (ESA 2010).

Recalculated data on gross domestic product (GDP) and gross national income (GNI) were submitted to the European Commission on 22 September of this year.  GNI is one of the EU data sources which is used for calculation of instalments of member states to the EU budget. Statistical office of the EU Eurostat is monitoring compliance of estimation of GNI to the requirements of methodology of European System of Accounts and comparability among the EU countries.

 

More information:
Intars Abražuns
Macroeconomic Statistics Department
Head of the Annual National Accounts Section
Tel.: +371 67366864
E-mail: Intars [dot] Abrazuns [at] csb [dot] gov [dot] lv