The economy by numbers. Focus on national accounts

This new issue of Sigma deals with national accounts, a topic not well known to the wider public despite its huge importance. We start by introducing the basic concepts as employed by national accountants in their daily work.

Opening articles explain the differences between annual, quarterly and sector accounts, as well as how public finances are dealt with in Eurostat. The revision of the European system of accounts and the use of national accounts
in policymaking are also explained. Finally, future developments of national accounts are highlighted in an article by Eurostat’s Director, Laurs Nørlund.

In the second section of the magazine, features focus on best practices acquired in the production of national accounts by the European Member States as well as challenges encountered on the way. Hungary, Finland and Cyprus provide the examples. The European Central Bank describes its work with financial accounts, as does the Portuguese Central Bank.

Sigma also deals with the more specialised topic of satellite accounts in the Netherlands.

Readers will get acquainted with the ins and outs of environmental accounts in Eurostat and the World Wide Fund for Nature presents the ecological footprint — their alternative to the most well-known economic indicator, gross domestic product.

In order to portray the users of national accounts data, we meet representatives from the European Commission’s Directorate-General for Economic and Financial Affairs as well as analysts from one of Germany’s largest financial groups, Deka Finanzgruppe. The British National Institute of Economic and Social Research is also presented. Finally, SIGMA talks to two international organisations involved in national accounts: the United Nations Statistics Division and the Organisation for Economic Cooperation and Development.

The journal also looks at the challenges faced in the development of national accounts in countries such as Cameroon and Brazil.

The issue is closed with a feature on the national Bulgarian Statistical Institute and their new Director-General, Mariana Kotzeva.