United Nations Economic Commission for EuropeStatistical DivisionUnited Nations Economic Commission for EuropeStatistical Division

Globalization and Economic Statistics

UNECE Statistical Division 15 June 2011

- UNECE Statistical Division Slide 2April 20, 2023

Trade-related activities

UNECE leads a Group of Experts on the Impact of Globalization on National Accounts (GGNA) To review the challenges, caused by globalization, in compiling main

economic indicators and to prepare practical guidance, due in June 2011

All member states of UNECE, OECD and Eurostat participated (+ China, Hong Kong SAR, Mongolia, Singapore and South Africa)

http://www.unece.org/stats/groups/wggna.e.htm

Indicators in the UNECE on-line Statistical Database Balance of Payments Globalization indicators (to be published in the course of 2011)

http://w3.unece.org/pxweb/Dialog/

- UNECE Statistical Division Slide 3April 20, 2023

The Guide Impact of Globalization on National Accounts

Provides recommendations and best practices on how to deal with the impact of globalization on national accounts

One of the three sections discusses challenges in measuring cross-border trade in goods and services processing of goods abroad (no change of ownership) merchanting (products do not enter or leave the country of the

seller) international trade in intellectual property products (software etc.) global manufacturing (combination of all above) re-exports, transit and quasi-transit trade

- UNECE Statistical Division Slide 4April 20, 2023

Trade related issues for future work recommended by GGNA

Global manufacturing processes which take place in more than country

International trade in intellectual property products within multinational enterprises

Global service contracts when the seller, customer and services provider are all resident in different countries

Commonly agreed definition of special purpose entities (units of foreign multinational enterprises with large financial stocks and flows, but small physical presence) and their role in global trade

- UNECE Statistical Division Slide 5April 20, 2023

UNECE on-line Statistical Database – Globalization indicators

The indicators will be based on generally accepted measures, such as the OECD “Handbook on Economic Globalisation Indicators”

The indicators cover the following areas: globalization of trade

trade performance

growth of trade and

foreign direct investment

Not a comprehensive description, but a useful snapshot