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COUNTRY PRESENTATIONCOUNTRY PRESENTATION
PAKISTAN PAKISTAN
Presented byPresented by
Liaqat AliLiaqat AliChief Statistical Officer,Chief Statistical Officer,
Pakistan Bureau of Statistics,Pakistan Bureau of Statistics,Government of PakistanGovernment of Pakistan
Contents Country Profile (Key Indicators) The General Statistics (Reorganization) Act, 2011 Defining National Accounts Different Approaches to compile GDP Framework of Pakistan’s current NA Sectors of the Economy Sector-wise Methodology and sources of data Capital Formation and Expenditure on GDP Summary Growth rates of GDP, Investment and CPI Rebasing of NA why and When? Major Improvements Adopting the Price Concept and Modern Classifications Main data sources Rebasing Exercise in Manufacturing Sector (Examples) Future Plans
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Country Profile (Key Indicators end June, Country Profile (Key Indicators end June, 2012)2012)
Name :-Name :- Islamic Republic of PakistanIslamic Republic of Pakistan Population:-Population:- 180.71 Million 180.71 Million
UrbanUrban 67.55 Million 67.55 Million RuralRural 113.17 Million113.17 Million
Population Growth Rate (%):-Population Growth Rate (%):- 2.032.03 Labor Force:-Labor Force:- 59.3 Million59.3 Million Employed Labor Force:-Employed Labor Force:- 55.8 Million55.8 Million Un-Employed Labor Force:-Un-Employed Labor Force:- 3.5 Million3.5 Million Un-Employment Rate:-Un-Employment Rate:- 6.0 Percent6.0 Percent Crude Birth Rate (per 1000 person):-Crude Birth Rate (per 1000 person):- 27.227.2 Crude Death Rate (per 1000 person):-Crude Death Rate (per 1000 person):- 7.2 7.2 Infant Mortality Rate (per 1000 person):-Infant Mortality Rate (per 1000 person):- 69.0 69.0 Life Expectancy (Years)Life Expectancy (Years)
Females:-Females:- 66.166.1 Males:-Males:- 64.364.3
(cont.)(cont.)
Country Profile ( cont.)Country Profile ( cont.) Literacy Rate:-Literacy Rate:- 58.0 58.0
(June,11)(June,11) Male:-Male:- 69.069.0 Female:-Female:- 46.046.0
Expenditure on Education (%age of GNP):-Expenditure on Education (%age of GNP):- 1.81.8
Registered Doctors (000 Nos.):-Registered Doctors (000 Nos.):- 149.2149.2
Registered Nurses (000 Nos.):-Registered Nurses (000 Nos.):- 76.2 76.2
Registered Dentists (000 Nos.):-Registered Dentists (000 Nos.):- 10.9 10.9
Expenditure on Health (%age of GNP):-Expenditure on Health (%age of GNP):- 0.3 0.3
Per Capita Income:-Per Capita Income:- US$ 1372US$ 1372
Exchange Rate:-Exchange Rate:- Rs.88.31/US$Rs.88.31/US$
Financial Year:-Financial Year:- 11stst July to 30 July to 30thth June June
The General Statistics (Reorganization) Act, 2011 Change of Name from Federal Bureau of Statistics (FBS) to Pakistan
Bureau of Statistics (PBS) Under the Act, three data collecting departments i.e FBS, Population
Census Organization, and Agriculture Census Organization have been merged into PBS
The General Statistics (Reorganization) Act, 2011, governs the collection, compilation, and dissemination of statistics.
The Act authorizes the Statistical Authorities and the Governing Council to ensure smooth statistical operations in the country.
PBS is an autonomous body headed by Chief Statistician who is also Federal Statistics Authority under the Statistics Act
The Act ensures confidentiality of information on individual, firm or institution and provides legal coverage to statistical activities in the country and also ensures that the collected information is used only for statistical purposes.
The Act ensures statistical reporting and individuals or establishments that fail to supply data or supply false data can be fined/imprisoned under the Act
What is National Accounts
The National Accounts is a systematic framework for the presentation of statistics that provide a wide range of information about the economy
There are a number of aggregate measures in the national accounts, most notably gross domestic product or GDP and investment (GFCF).
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NATIONAL ACCOUNTS Gives a systematic and quantitative view of
the results of economic process as a whole in a certain period in economy. They constitute a record of all economic transactions which take place in a certain period of time between economic sectors with in a Country and also with ROW. The transactions are grouped.
DIFFERENT APPROACHES TO CALCULATE GDP:
Production Approach: The production or output approach = Gross
Output - Intermediate consumptionExpenditure approach: (Final consumption expenditure of Households and
Government + Gross fixed capital formation + changes in inventories (stocks) + exports – imports Or GDP = CH + CG + I + (E-X)
Income Approach: Compensation of employees + Net indirect Taxes + net Operating surplus + Consumption of Fixed Capital 8
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Framework of Pakistan’s NA Regular Activities:
GDP/GNP (factor costs) by industrial origin (by “sector”)
Expenditure on GNP (market prices) Estimates of GFCF (market prices) by industrial origin
for private & public sector and for general government Composition of general government consumption
expenditureOther Activities: Input-Output Tables (1990-91) Rebasing of National Accounts from 1999-2000 to
2005-06 is in progress National Health Accounts
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Sectors of the Economy
A. Agriculture Sector Crops
Major Crops
Minor Crops Live Stock Fishery Forestry
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Sectors of the Economy
B. Industrial Sector Mining and Quarrying Manufacturing
Large Scale
Small Scale
Slaughtering Construction Electricity, Gas & Water Supply
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Sectors of the Economy
C. Services Sector Transport, Storage & Communication Wholesale & Retail Trade Finance & Insurance Ownership of Dwellings Public Admn. & Defence Social, Community & Personal Services
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Sector-wise Methodology and Sources of Data
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CROPS
Value of output including by-products (minus) Intermediate consumption
Gross Value Added:
Provincial Agriculture & Irrigation Departments, IRSA, WAPDA,Federal Directorate of Fertilizer, Pesticides Association, etc.
Sources:
Seeds, Fertilizer, Pesticides, Water, Transport Charges, etc.
Intermediate Consumption:
Rice, Wheat, Cotton, Sugarcane, Gram, Maize, etc.
Pulses, Vegetables, Fruits, Oil seeds, Condiments, etc.
Major crops: Minor crops:
InputsOutput
Quantity(of Production)
Prices(Crops)
125 kinds of Crops
Value
•Seeds•Fertilizers•Ploughing & Planking•Pesticides, weeding, Spraying etc•Water•Transportation charges•Wastages
Gross Value Added of Crop Production(Output minus Input)
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LIVESTOCK
Value of output including by-products (minus) Intermediate consumption
Gross Value Added:
Livestock and Dairy Development Division,Agriculture Census Organization, Pakistan Poultry Association etc.
Sources:
Roughages (green and dry), Concentrates (Grains, Oilcakes), Grass & Grazing, salt, Medicines, etc.
Intermediate Consumption:
Cattle and their productsPoultry and their products
Composition:
Livestock and Poultry Livestock Buffaloes Cattle Sheep Goats Camels Horses Mules Asses
Poultry Broilers (Farming) Layers (Farming) Breeding stock (Farming) Poultry (Desi) Ducks, Drakes &
Ducklings Eggs (Farming) Eggs (Desi)
Gross Output1. Net Sale (Sale – Purchase of Animals for
Slaughtering)2. Natural Growth3. Livestock Products
Milk Draught Power Dung & Urine Wool & Hair
4. Poultry Products Broilers (Farming) Layers (Farming) Poultry (Desi) Ducks, Drakes & Ducklings Breeding Stock (Farming) Eggs (Farming) Eggs (Desi)
Intermediate Consumption
Fodder Green Dry Concentrate
Poultry Inputs Other Inputs
Transportation, POL, etc Medical care etc Interest (Bank charges) Repair & Maintenance Rent Paid (Building, Machinery etc) Value of chicks
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FISHING
Value of output (minus) Intermediate consumption
Gross Value Added:
Marine Fisheries Department, Provincial Fisheries Departments & Federal Bureau of Statistics.
Sources:
Salt, Ice, Fuel & Lubricants, Medicines, Chemicals, etc. and Auction Charges.
Intermediate Consumption:
Fish, Prawn, Shrimps, crabs, etc. from:Ocean, Coastal and Offshore water, Fish farms, Rivers, Canals, Lakes, Ponds, and inundated tracts, etc.
Composition:•Marine•Inland
Fishery
Marine Fishing
Inland Fishing
Gross Output
Production Price
Value of Output
Intermediate consumption
Marine Fishing Ice Salt Fuel Gas Others
Inland Fishing Seed Feed POL /Elect Water Other
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FORESTRY
Value of output (minus) Intermediate consumption
Gross Value Added:
Federal Inspectorate General of Forests.Provincial Forest Departments.Pakistan Forest Institute Peshawar
Sources:
Seeds, plantation, fertilizer, etc.Intermediate Consumption:
Timber, Firewood, Ephedra, Grass & Grazing, Resin, Medicinal herbs, and other Minor Forest Products/Output.
Composition:
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MINING & QUARRYING
Value of output (minus) Intermediate consumption
Gross Value Added:
Ministry of Petroleum and Natural Resources, OGDC, etc. Coal and other Mineral Establishments, Provincial Mineral Departments
Sources:
Blasting Material, Fuel and Lubricants, etc.Intermediate Consumption:
Crude oil, Natural Gas, Coal including other minerals, e.g. Rock Salt, Lime Stone, Dolomite, Gypsum, Fire clay, Phosphate, Marble, and Surface Minerals.
Composition:
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LARGE-SCALE MANUFACTURING
For calculating growth rate of value added, Quantum Index of Manufacturing (QIM) is computed based on production data of 100 items having 75.07% weight (bench-mark 1999-2000) of Large Scale Manufacturing Sector.
Ministry of Industries, OCAC,Provincial Bureaux of Statistics, Federal Bureau of Statistics.
Sources:
Food, Beverages, Tobacco, Textile, Leather, Wood & Wood Products, Paper & Boards, Chemicals, Pharmaceutical, Petroleum, Metal, Engineering, Electrical, Automobile and other Industrial products/ groups.
Composition:
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SMALL-SCALE MANUFACTURING
7.51 % based on Study on SSMI 1999-2000
Annual Growth:
Based on special study and SHMISurveys.
Benchmark Estimates of Gross Value Added:
All un-registered small and household manufacturing establishments
Composition:
SLAUGHTERING
The products meat (beef, mutton, chicken) and other products (hides, skins, bones and blood etc) constitute output of slaughtering.
Annual Growth:
Benchmark Estimates of Gross Value Added:
Composition:
The slaughtering industry relates to manufacturing whereas the livestock is a part of agriculture sector.
Based on special study (1999-2000).Value of output (minus) Intermediate consumption
Intermediate consumption: Value of Animals (Buffalo, Cattle, Sheep, Goat,
etc and Poultry (Farm and Desi). Other inputs
For calculating GVA of subsequent years, growth of meat is applied
Source:Livestock Division,MINFAL
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CONSTRUCTION
Value added coefficients of Investment by kind of construction are multiplied to Investment made in that activity during the year. Value additions of all activities are summed up.
Federal, Provincial & Local Bodies,Development Authorities, Major Public & Private Construction Establishments, Federal Bureau of Statistics.
Sources:
All major construction activities including repairs, additions/alterations, Land Improvement; Buildings; Roads, Bridges, Streets; Highways; Runways; Transport & Railway Tracts; Telephone, Power, Gas, Oil, Utility lines; Canals; Dams; Harbour & Barrages etc.
Composition:
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ELECTRICITY, GAS DISTRIBUTION & WATER SUPPLY
Value of Electricity, Gas & Water Supply (plus) Misc. Receipts (minus) Industrial cost & Electricity/Gas purchases.
Gross Value Added:
WAPDA, KESC, KANUPP, Pak Steel, IPPs and Captive Power units.Sui Southern and Sui Northern Gas Cos., Mari Gas etc. IRSA, Provincial Irrigation Departments.
Sources:Electricity:
Gas:
Water:
Furnace Oil, Gas, Water, etc.Intermediate Consumption:
Electricity, Gas distribution and Water supplyComposition:
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TRANSPORT, STORAGE & COMMUNICATION
Value of output (plus) Misc. Receipts (minus) intermediate consumption
Gross Value Added:
Pakistan Railways, PNSC, KPT, PQA, KICT, QICT, PICT,CAA, PIA & other Airlines. NTRC,Asia Petroleum, PARCO, etc. Boats. PTCL, NTC,Mobile Phones,ISPs,PCOs, Post Offices, Courier Services, NLC, Town Committees (for Non-mechanized)
Sources:
Railway, Transport via Air, Water, Road and Pipeline, Storage & Communication (Post Office, Franchise Post Offices, Courier Co.s, PTCL, Cable Operators and ISP’s, Mobile Phone Cos., and PCOs
Composition:
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FINANCE & INSURANCE
Value of output (plus) Misc. Receipts (minus) intermediate consumption
Gross Value Added:
State Bank of Pakistan, Scheduled Banks, Development Financial Institutions, Life and General Insurance Cos, Modarabas & Leasing Companies.
Sources:
State Bank of Pakistan, Scheduled Banks, DFIs, Insurance Companies, Modaraba & Leasing Companies.
Composition:
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WHOLESALE & RETAIL TRADE
Composition: All Agricultural, Industrial Produce and Imports
Sources: Provincial Governments &Federal Bureau of Statistics
Value Added: Total value of trade margins applied on the marketed portions of Agriculture and Industrial Output as well as Imports.
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OWNERSHIP OF DWELLINGS
Coverage:
Housing Units (rented as well as self occupied) and in urban and rural areas
Sources: Housing Census & Rent Surveys
Value Added: Gross Rentals (No. of Dwellings multiplied by average annual rent (minus) Value of current repairs and maintenance.
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PUBLIC ADMN. & DEFENCE
Composition:
Federal, Provincial and District Governments and Cantonment Boards.
Sources: Budget documents of Federal, Provincial, District Governments and Cantonment Boards.
Gross Value Added:
Sum of the compensation of employees
(all Civil and Defence) (Plus)
Depreciation on Govt. fixed assets
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COMMUNITY, SOCIAL & PERSONAL SERVICES
Composition:
Education, Health, Business(Accounting, Auditing, Advertising,Photography etc.), Recreation, Social,Personal & Domestic Services, etc.
Sources: Ministry of Education, PMDC, PNC, PBA, PEC, ACA, PAA, PHA, etc.
Capital Formation
What are they? Definition
Usually goods but also services
That are owned
From which owner expects future economic benefits over a period of time by using it or holding it (asset boundary)
That will be used for more than one year
Fixed Capital FormationWhat are they? Scope
They include
New capital goods
Existing capital goods
Improvements to existing capital goods
They can be Purchased Self-produced
Gross Fixed Capital Formation – Main Types Fixed assets
Dwellings Other buildings and structures including land improvements
Machinery and equipment Transport equipment ICT equipment Other machinery and equipment
Weapon systems
Cultivated biological resources Animal resources yielding repeat products. Tree, crop and plant resources yielding repeat products
Costs of ownership transfer on non-produced assets Intellectual property products
Research and development Mineral exploration and evaluation Computer software and databases
Entertainment, literary or artistic originals Other intellectual property products
Gross Fixed Capital Formation
Revised Questionnaire to collect GFCF data from source agencies
ValuablesWhat are they? Definition
Valuables are assets that: Are acquired as store of wealth Are not used up in production Do not deteriorate over time
Examples:
Precious stones and metals Antiques Works of arts Jewellery
Data sources: Household surveys (HIES and PSLM) Retail trade surveys Surveys and censuses of producers
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Expenditure on GNP
Private Final Consumption Expenditure Government Final Consumption
Expenditure Gross Fixed Capital Formation Changes in Stocks Exports (minus imports) of Good and
Services Net Factor Income from Rest of the World
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Private Final Consumption Expenditure
Final Consumption of goods and services of household and private non-profit institutions serving households
Measured through Residually
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Government Final Consumption Expenditure
Current expenditures on goods and services by all the departments and establishments of: Federal Government Provincial Governments District Governments Cantonments
Growth Rates of GDP and its components Growth Rates of GDP and its components (CFC)(CFC)
Period GDP Agri. Mfg CPS Services
1960s 6.8 5.1 9.9 6.8 6.7
1970s 4.8 2.4 5.5 3.9 6.3
1980s 6.5 5.4 8.2 6.5 6.7
1990s 4.6 4.4 4.8 4.6 4.6
2000s 4.8 3.2 7.0 4.3 5.3
2010-11 (R)
3.0 2.4 3.1 1.5 4.5
2011-12 (P)
3.7 3.1 3.6 3.3 4.0
Growth Rate of Investment, GDP Deflator and CPI Growth Rate of Investment, GDP Deflator and CPI
Period Tot.Inv Tot.Inv (% of GDP)
National Savings (% of GDP)
GDP Deflator
CPI
1960s - - - - 3.2
1970s 21.8 17.1 11.2 - 12.5
1980s 4.2 18.7 14.8 2.3 7.2
1990s 8.1 18.3 13.8 8.3 9.7
2000s 15.0 18.9 16.9 8.7 7.7
2010-11 (R)
2.3 13.1 13.2 18.2 13.9
2011-12 (P)
9.7 12.5 10.7 9.7 10.8
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Current Base Period 1999-2000 The work on change of base 1999-2000 to
2005-06 is in progress.
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Rebasing: why, when?Why? New censuses, surveys, studies New price basis New concepts (System of National Accounts) Improved methods and sources Changes in classifications (new PSIC, CPC)
When in Pakistan > FY 1959-60, FY 1980-81
FY 1999-00 and FY 2005-06 (in progress)
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Variables and time-series
The variables will widely remain the same:GDP, Gross National Income, value added, Gross fixed capital formation and other components of expenditure side of GDP
It is planned to revise the years prior to the base year, also (FY 1999/2000 onward).
This is with requests from analysts and researchers to have long time-series.
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Main improvements of data base
Quantum Index of Manufacturing now rebased
according to Census of Large Scale Manufacturing
Industries 2005-06
Various new surveys and studies
renewing price base for volume figures (“constant
prices”)
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Adopting the price concept recommended by SNA 1993 / 2008
The SNA recommends “basic prices” which differ from “factor cost” by indirect taxes or subsidies which do not vary with quantity or value of output.
factor cost+ taxes (less subsidies) on production (e.g. land, vehicles)= basic prices+ taxes (less subsidies) on products (e.g. excise duties)= producers’ prices+ trade and transport margins+ non-deductible VAT (Sales Tax)= purchasers’ prices
52
Applying modern classifications
Industrial classification PSIC 2007, delineated from United Nations’ “International Standard Industrial Classification of all Activities” (ISIC), Revision 3.1
(PSIC 2010) which has been adapted from International Standard Industrial Classification (ISIC REV. 4)
Central Product Classification (CPC) of United Nations, Version 2F:\Presentations\Presentation Tehran\CPC Items and weights.xls
Main data sources: Censuses
Census Manufacturing Industries (CMI) 2005-06 Agricultural Census 2000 Livestock Census 2006 Economic Census 2001
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Main data sources: surveys
Small scale and households manufacturing industries Wholesale & retail trade Storages and warehouses Rent survey Family budget survey Water supply & sanitation Social, recreational, community & personal services ….
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Main data sources: studies
Inland fishing Marine fishing Road transport Shipping, goods forwarding, customs clearing International freight forwarding Travel agents / tour operators Stock exchange brokers Exchange companies …
55
Main data sources: prices CPI and WPI now rebased (2007-08) PPI for selected commodities Special surveys on prices of agricultural products and
inputs Unit value index for exports and imports Information on administered prices of various goods
and services
► used for inflating volume figures / deflating value figures
56
Main sources of reconciliation
Budget data Data of State Bank of Pakistan
External transactions Exports and imports Net factor income from abroad
Output of services of MFIs National Health Accounts
57
Rebasing Exercise in Manufacturing Sector
Rebasing Exercise in Manufacturing Sector
Manufacturing Manufacturing
Manufacturing comprises establishments engaged in the physical or chemical transformation of materials, substances or components into new products.
It contributes about 19% towards the GDP.
It is covered in section D of the Pakistan Standard Industrial Classification (PSIC 2007) which has been adapted from International Standard Industrial Classification (ISIC REV. 3.1) and includes 22 divisions. However it is covered in section C of the Pakistan Standard Industrial Classification (PSIC 2010) which has been adapted from International Standard Industrial Classification (ISIC REV. 4) and includes 24 divisions
Manufacturing comprises establishments engaged in the physical or chemical transformation of materials, substances or components into new products.
It contributes about 19% towards the GDP.
It is covered in section D of the Pakistan Standard Industrial Classification (PSIC 2007) which has been adapted from International Standard Industrial Classification (ISIC REV. 3.1) and includes 22 divisions. However it is covered in section C of the Pakistan Standard Industrial Classification (PSIC 2010) which has been adapted from International Standard Industrial Classification (ISIC REV. 4) and includes 24 divisions
Large Scale Manufacturing
Large Scale Manufacturing covers the establishments registered or qualified for registrations under the Factories Act-1934, having 10 or more employees.
Large Scale Manufacturing
Large Scale Manufacturing covers the establishments registered or qualified for registrations under the Factories Act-1934, having 10 or more employees.
Output in Base Year (Basic Prices)=
Value of Production (Purchaser’s Price)- Trade Margin- Product Taxes + Subsidies on products
Source: Census of Manufacturing Industries (CMI) 2005-06
Output in Base Year (Basic Prices)=
Value of Production (Purchaser’s Price)- Trade Margin- Product Taxes + Subsidies on products
Source: Census of Manufacturing Industries (CMI) 2005-06
Large Scale ManufacturingLarge Scale Manufacturing
Output in Subsequent Years (Basic Prices)=
Output in Subsequent Years will be extrapolated by applying the Quantum Index of Manufacturing Industries (QIM) comprising 112 items with base year 2005-06
Source: Industry Section, PBS
Output in Subsequent Years (Basic Prices)=
Output in Subsequent Years will be extrapolated by applying the Quantum Index of Manufacturing Industries (QIM) comprising 112 items with base year 2005-06
Source: Industry Section, PBS
Large Scale ManufacturingLarge Scale Manufacturing
Intermediate Consumption in base year (Purchaser’s Prices)=Industrial Cost + Non Industrial Cost
Industrial Cost :- Payments for raw materials, energy & water, and repair & maintenance Non Industrial Cost:- Payments for transport, insurance, copyrights, royalties, postage, telephone, printing, stationary, advertisements, travelling expenses etc.
Source: Census of Manufacturing Industries (CMI) 2005-06
Intermediate Consumption in base year (Purchaser’s Prices)=Industrial Cost + Non Industrial Cost
Industrial Cost :- Payments for raw materials, energy & water, and repair & maintenance Non Industrial Cost:- Payments for transport, insurance, copyrights, royalties, postage, telephone, printing, stationary, advertisements, travelling expenses etc.
Source: Census of Manufacturing Industries (CMI) 2005-06
Large Scale ManufacturingLarge Scale Manufacturing
Intermediate Consumption in Subsequent Years
Intermediate Consumption in Subsequent Years will be extrapolated by applying the Quantum Index of Manufacturing Industries (QIM) comprising 112 items with base year 2005-06
Source: Industry Section, PBS
Intermediate Consumption in Subsequent Years
Intermediate Consumption in Subsequent Years will be extrapolated by applying the Quantum Index of Manufacturing Industries (QIM) comprising 112 items with base year 2005-06
Source: Industry Section, PBS
Large Scale ManufacturingLarge Scale Manufacturing
Gross Value Added in Base Year (Basic Prices)=
Output in base year (Basic Price)- Intermediate Consumption base year (Purchaser’s Price)
Gross Value Added in Base Year (Basic Prices)=
Output in base year (Basic Price)- Intermediate Consumption base year (Purchaser’s Price)
Large Scale ManufacturingLarge Scale Manufacturing
Gross Value Added in Subsequent Years (Basic Prices)=
Output in subsequent years (Basic Price)- Intermediate Consumption subsequent years (Purchaser’s Price)
Gross Value Added in Subsequent Years (Basic Prices)=
Output in subsequent years (Basic Price)- Intermediate Consumption subsequent years (Purchaser’s Price)
Large Scale Manufacturing (Example)Large Scale Manufacturing (Example)
LSM Detail working for Rebasing):- (F:\Presentations\Presentation Tehran\Updated Tables of GVA (LSM) Final 18-05-12.xlsx
Example of Extrapolation by Major Groups:-F:\Presentations\Presentation Tehran\Extrapolation of Output, IC of LSM 2005-06 to 11-12.xlsx
LSM Detail working for Rebasing):- (F:\Presentations\Presentation Tehran\Updated Tables of GVA (LSM) Final 18-05-12.xlsx
Example of Extrapolation by Major Groups:-F:\Presentations\Presentation Tehran\Extrapolation of Output, IC of LSM 2005-06 to 11-12.xlsx
Small Scale ManufacturingSmall Scale Manufacturing
Gross Value Added in Base Year (Basic Prices)=
Output in base year (Basic Price)- Intermediate Consumption base year (Purchaser’s Price)
Gross Value Added in Base Year (Basic Prices)=
Output in base year (Basic Price)- Intermediate Consumption base year (Purchaser’s Price)
Small Scale ManufacturingSmall Scale Manufacturing
Gross Value Added in Subsequent Years (Basic Prices)=
Output in subsequent years (Basic Price)- Intermediate Consumption subsequent years (Purchaser’s Price)
Example:-SSMI Working, GVA and Deflators Final 18-05-2012.xlsx
SSMI Extrapolation.xlsx
Gross Value Added in Subsequent Years (Basic Prices)=
Output in subsequent years (Basic Price)- Intermediate Consumption subsequent years (Purchaser’s Price)
Example:-SSMI Working, GVA and Deflators Final 18-05-2012.xlsx
SSMI Extrapolation.xlsx
The solution for small scale manufacturing
It is obvious that the study 1999-2000 failed to reflect the actual development.
The inter-survey growth of GVA at factor cost (constant prices) during the period between 1987-88 and 2006-07 is 6.7 % while between 1996-97 and 2006-07 it was 8.2 %.
As an average of the two, the rate of 7.5 has been applied for all years since 1999-2000.
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The idea of FISIM Lending of money is not an activity contributing to GDP. Therefore, interest payments as such are not a reward for
production. They are recorded under “distribution”, instead.
Nevertheless, the banks are providing a service called “financial intermediation services indirectly measured” (FISIM). For short, it is an imputation calculated as interest received by them minus interest paid by them.
Consumption of FISIM is either intermediate or final.
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Future Plans1. Rebasing 2005-06 until 2009-10 (“final”)
2. Calculate results 2010-11, 2011-12 and 2012-13 as “preliminary” but with new base
3. Publish all results along with meta data
4. Compilation of Input and Output PPI,s to ensure the implementation of Double Deflation
5. Launching Quarterly National Accounts
6. Launching Supply and Use Tables (2005-06)
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Thank you
www.pbs.gov.pk
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