Source
Source Contact person/organisation Contact person/organisationIn this dataset, almost all OECD countries compile their data according to 2008 System of National Account (SNA).
The link to the file "ANA_changes.xls" is available for users to provide more information on where OECD countries and non member countries stand regarding the change over the 2008 SNA.
The readers' guide gives general information on the dataset and withheld criteria for this dataset.
Data Characteristics Data Characteristics Other data characteristics Other data characteristicsChanges in the size of economies are usually measured by changes in volume (often referred to as real) levels of GDP. "Real" reflects the fact that changes in GDP due to inflation are removed.
Concepts & Classifications Concepts & Classifications Key statistical concept Key statistical conceptDefinition
Converting nominal values of GDP to real values requires a set of detailed price indices, implicit or directly collected. When applied to the nominal value of transactions, the corresponding volume changes can be captured. The detailed volume changes for goods and services - typically several hundred - are then aggregated to yield an overall change in the volume of GDP. In the past, most countries used fixed weights for this aggregation and the base year to which weights related was only modified every five to ten years. It is important to recognise that growth rates are not invariant to the choice of this reference period and measures of growth could turn out to be biased for reporting years that were remote from the base year.
Since the 1993 System of National Accounts (and 2008 SNA) it has therefore been recommended that weights should be representative of the periods for which growth rates are calculated. This means that new weights should be introduced every year, giving rise to chain-linked (volume) indices (see "Comparability").
Other Aspects Other Aspects Recommended uses and limitations Recommended uses and limitationsComparability
While the implementation of the 2008 SNA impacted the levels of GDP, it had little impact on the growth rate of GDP. Hence, growth rates across countries can easily be compared, even though Chile, Japan, and Turkey still compile data using the 1993 SNA standards.
There is generally some variability in how countries calculate their volume estimates of GDP, particularly in respect of services produced by government such as health and education. However, this does not necessarily mean that growth rates are less comparable.
With the exception of Mexico, all OECD countries derive their annual estimates of real GDP using annually chain-linked volume indices (that is the weights are updated every year). Mexico, like many non-OECD countries, revises its weights less frequently. Such practices however tend to lead to biased growth rates, usually upward.
In China, GDP refers to producers' prices.
In this dataset, almost all OECD countries compile their data according to 2008 System of National Account (SNA).
The link to the file "ANA_changes.xls" is available for users to provide more information on where OECD countries and non member countries stand regarding the change over the 2008 SNA.
The readers' guide gives general information on the dataset and withheld criteria for this dataset.
Changes in the size of economies are usually measured by changes in volume (often referred to as real) levels of GDP. "Real" reflects the fact that changes in GDP due to inflation are removed.
Definition
Converting nominal values of GDP to real values requires a set of detailed price indices, implicit or directly collected. When applied to the nominal value of transactions, the corresponding volume changes can be captured. The detailed volume changes for goods and services - typically several hundred - are then aggregated to yield an overall change in the volume of GDP. In the past, most countries used fixed weights for this aggregation and the base year to which weights related was only modified every five to ten years. It is important to recognise that growth rates are not invariant to the choice of this reference period and measures of growth could turn out to be biased for reporting years that were remote from the base year.
Since the 1993 System of National Accounts (and 2008 SNA) it has therefore been recommended that weights should be representative of the periods for which growth rates are calculated. This means that new weights should be introduced every year, giving rise to chain-linked (volume) indices (see "Comparability").
Comparability
While the implementation of the 2008 SNA impacted the levels of GDP, it had little impact on the growth rate of GDP. Hence, growth rates across countries can easily be compared, even though Chile, Japan, and Turkey still compile data using the 1993 SNA standards.
There is generally some variability in how countries calculate their volume estimates of GDP, particularly in respect of services produced by government such as health and education. However, this does not necessarily mean that growth rates are less comparable.
With the exception of Mexico, all OECD countries derive their annual estimates of real GDP using annually chain-linked volume indices (that is the weights are updated every year). Mexico, like many non-OECD countries, revises its weights less frequently. Such practices however tend to lead to biased growth rates, usually upward.
In China, GDP refers to producers' prices.