Dissemination Standards Bulletin Board (DSBB)


Special Data Dissemination Standard

(THE SUMMARY METHODOLOGY STATEMENT HAS BEEN PROVIDED BY SLOVAK REPUBLIC, WHICH IS SOLELY RESPONSIBLE FOR ITS ACCURACY AND COMPLETENESS. AT THE TIME OF POSTING, THE STATEMENT WAS REVIEWED BY THE IMF FOR CONSISTENCY WITH THE METADATA BASE PAGE DESCRIBING DISSEMINATION PRACTICES. SUBSCRIBERS ARE REQUIRED TO PROVIDE UPDATES TO THE STATEMENT, AS NEEDED, AND ARE EXPECTED TO MAKE OTHER IMPROVEMENTS, AS WARRANTED, TO ENHANCE TRANSPARENCY)
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Slovak Republic
Summary Methodology
National accounts
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I. Analytical Framework, Concepts, Definitions, and Classifications

2.1.1 Concepts and definitions

  • Analytical framework: National accounts are compiled according to the European System of Accounts, 1995 (ESA95).
  • Definition: GDP measures the market value of goods and services produced in the country.

2.3.1 Classification/sectorization

Classification systems: Institutional sectors are classified on the basis of 1995 ESA. Data on output and intermediate consumption are classified by the Statistical Classification of Economic Activities (SK NACE Rev.2) and the Statistical Classification of Products by Activity (CPA 2008). Imports and exports are classified by Harmonized System (HS). Final consumption expenditures of households are classified by purpose following the Classification of Individual Consumption by Purpose (COICOP). The classification of government revenue and expenditure follows the national budgetary classification; government expenditures follow the Classification of Functions of Government (COFOG), as well.
II. Scope of the data

2.2.1 Scope

Scope of the data

  • Transaction coverage: In accordance with 1995 ESA.
  • Geographic coverage: Slovak Republic, including territorial enclaves in the rest of the world (extra regional zones).

Unrecorded activity

Adjustments are made separately for illegal activities (drug-related and prostitution) and for under/over valuation of data (inaccuracies in the Business Register, part of the economy not covered by statistical questionnaires, etc.).
III. Accounting Conventions

2.4.1 Valuation

Valuation: Output and gross value added are estimated at basic prices, intermediate consumption at purchaser's prices and GDP at market prices. Gross fixed capital formation is valued at purchaser's prices and stocks at market prices (and at factor costs), which are adjusted for holding gains/losses due to the price development. Dwelling services are estimated using the user-cost method by adding all relevant costs, including operating costs, costs for repair and maintenance, consumption of fixed capital, allowance for net operating surplus. Non-market output is valued at cost prices. Foreign trade transactions are valued at f.o.b. basis.

2.4.2 Recording basis

Time of recording: Accrual basis
IV. Nature of the Basic Data Sources

3.1.1 Source data collection programs

  • GDP by production activities: A comprehensive and up-to-date Register of Organisations is used to conduct regular full coverage surveys and sample surveys of businesses, which are the main sources of data both for enterprises and establishments. Household surveys are conducted on regular basis. Additionally, bookkeeping statements of enterprises and administrative data are used to calculate gross output and intermediate consumption. Mandatory reporting by statistical units is ensured through legislation. For establishments with 20 and more employees, the response rate is between 92-95 percent. For small enterprises with number of employees less than 19, the response rate is around 60 percent. Financial enterprises and general government units generally have 100 percent response rate. The list of statistical questionnaires is published annually in the Programme of State Statistical Surveys. The list of bookkeeping statements is released in the Financial Gazette.
  • GDP by expenditure categories: Data on households are based on household budget surveys, retail turnover data, and other administrative and statistical data sources. The main sources of data on expenditures for general government sector are the quarterly statements provided by the Ministry of Finance and the monthly reports on revenues and expenditures of the state budget. Data on gross fixed capital formation and inventories for corporations are taken from regular surveys of establishments and enterprises. The main source of data for foreign trade transactions is the balance of payments and customs statistics.

Total employment is expressed by number of employees and self-employed, who are involved in production process belonging to the frame of output in SNA. In compilation of labour market indicators the method of balancing is used, i.e. job supply is balanced with demand. In particular, it is the comparison and harmonisation of data obtained from enterprise survey with data obtained from Labour force survey (LFS) carried out in households, to conform the definitions of ILO and ESA 95. According to ESA 95, the total employment is expressed in domestic concept. In this concept, data are acquired from enterprise survey. For the sake of comparability, data from Labour force survey (surveyed on the basis of national concept) are adjusted by items such number of residents working abroad, non-residents, coming from abroad, employees in collective households, women having maternity leave and other.

V. Compilation Practices

3.3.1 Source data statistical techniques

  • GDP by production activities: Estimates of gross output and intermediate consumption in current prices are compiled using mainly primary data sources. Gross value added is derived as the difference between gross output and intermediate consumption. Several adjustments are made to account for undercoverage respectively for non-reporting. Data obtained from sample surveys are adjusted using standard techniques to ensure full coverage. For non - reporting enterprises, adjustments are made on the basis of the data reported in the reference period by similar enterprises. Constant price estimates are derived by double deflation of gross output and intermediate consumption using appropriate price indices. Overall, deflation is done at the level of 10 sections of SK NACE Rev.2  for of quarterly results.
  • GDP by expenditure categories: The main source of data for estimating final consumption of households is retail trade statistics, household budget survey, and other administrative and statistical data sources. Estimates of final consumption of households in constant prices are calculated using appropriate consumer price indices for 45 COICOP categories. Estimates of expenditures of general government final consumption are obtained directly from source data, which are processed by the Ministry of Finance SR. In conversion into constant prices, data on compensation of employees are deflated separately. Wage index adjusted from influence of productivity of labour is used for deflation. Intermediate consumption is recalculated on the basis of the relevant price indices. Consumption of fixed capital is deflated by index of prices, which is used for gross fixed capital formation. Data on fixed capital formation are compiled from statistics on acquisition fixed assets and converted to constant prices using appropriate producer's price indices (for domestic fixed capital formation). Data on changes in inventories are obtained as the difference between reported value of stocks at the beginning and at the end of the reference period. from regular surveys. The values of stocks at the beginning and at the end of the current period are deflated separately for agriculture, industry, construction, trade and transport using appropriate producer's price indices. Estimates of imports and exports for goods and services at constant prices are obtained through deflation using adjusted price indices of domestic output and adjusted price indices of foreign trade.Time series for GDP data are compiled according to ESA95 and available also at constant prices on the base of previous year and at chain-linked volumes with reference year 2005.

3.3.2 Other statistical procedures

Seasonal adjustment: Quarterly GDP and its components are seasonally adjusted using TRAMO/ SEATS version implemented in Demetra. In seasonal adjustment, procedure corrections regarding to trading/working days, leap year and specific country holidays are included. Adjustment for Easter effects is made only in case of its statistical significance.

3.4.1 Validation of intermediate results

Reconciliation: The difference between the GDP figures calculated by output, expenditure and income approach results from different data sources used for compilation of GDP as well as from worse data availability on quarterly basis. The difference between the output and expenditure approach of GDP in preliminary results from quarterly accounts has been figured out separately as a statistical discrepancy. Income approach is used for comparison of results of GDP compiled by output and expenditure approach.
VI. Other Aspects

3.5.1 Revision studies and analyses

Data are revised according to revision policy. Changes in methodology are published using methodological explanations or notes to published data on our website http://www.statistics.sk/

Notes:

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