Over the last several decades, the global economy has experienced tremendous globalization. Production and international trade of goods and services have been increasingly linked to global value chains (GVCs), which has significantly changed the nature and structure of international trade, especially with growing intermediate goods trade. Economic globalization has also created new opportunities for businesses to organize their production chains more efficiently. This has increased the complexity of compiling economic statistics as it is more difficult to break down production activities on country-by-country basis. Globalization has led to increasingly complicated supply chains as raw materials and other intermediate goods move strategically throughout the world as they are transformed step by step into final goods sold to final users. Obviously, existing data on gross trade flows continue to answer many important questions about the global economy; however, the growth of GVCs means that additional data are necessary for a more complete and more nuanced understanding of global trade.
Emerging global production arrangements pose challenges to business and macroeconomic statistics, business registers and economic classifications. These challenges include implementation of the principle of economic ownership, especially in relation to intellectual property products, and the recording of cross-border transactions in goods and services in compiling national accounts and balance of payments statistics.
Session 1 Opening
12:00 - 12:10 Welcome remarks
12:10 - 12:20 Take a way summary of the third webinar (Informal Economy) by STATAFRIC
Session 2 Globalization: Challenges for macroeconomic statistics
12:20 - 12:45 Evidence of increasing globalization
Introduction to trade in value-added (TiVA) indicators and global value chains
12:45 - 13:00 Round table on country practices, in particular challenging issues in compiling ROW accounts and consistency with BOP statistics (moderated by Statafric)
Session 3 Compiling national accounts in a globalizing world
13:00 - 13:20 Joint GZTT: Issues and recommendations (UNSD)
13:20 - 13:45 Q & A
13:45 - 14:00 General discussion & concluding remarks.
Please register by following this link: https://zoom.us/webinar/register/9016787216950/WN_hTr-4Fn5RLyvUB_tnMmyRg
Registration is required, and the webinar will be recorded.