New Statistical Indicators for New Context

The General Statistics Office (GSO) has recently published the “National Statistical Indicator System” to suit new context. This is a set of statistical indicators demonstrating major social and economic developments in Vietnam.

The issuance of the new indicator system at this point of time is very important and necessary to supplement appropriate criteria to fit the current new context.

Timeliness, completeness and accuracy guaranteed

Mr Do Thuc, General Director of General Statistics Office (GSO), said the statistical indicator system will reflect the country’s social and economic situations more entirely and more accurately like economic growth, competitiveness, new countryside, environmental protection and other norms in accordance with international practices.

 

With 350 indicators in 21 areas (Land, climate, administration; Population; Labour; Employment and gender equality; Investment and construction; National accounts; Public finance; Currency, securities, insurance and real estate business; Agriculture, forestry and fishery; Industry; Prices; Transport; Information, communication and information technology; Science and technology; Education and training; Medicine and healthcare; Culture, sport and tourism; Living standards; Social order, safety and justice; and Environment protection), the new indicator system has 76 indicator components more than the old system (with 274 indicators), divided into three groups (A, B, and A and B). Group A consists of 297 indicators which are to be applied from 2011; and Group B comprises 36 indicators which will be applied in 2012-2015.The GSO is responsible for collecting and synthesising 198 indicators. Ministries and agencies will be liable for working with remaining indicators.

 

According to the schedule of implementation, most indicators will begin to be collected and published this year, with higher priority given to monetary, securities, insurance and real estate business. As regards Prices Group, the consumer price index (CPI) is published monthly and the goods export index will be computed on a quarterly basis.

 

With respect to forex data, foreign exchange reserve will include foreign currencies at the State Bank of Vietnam, foreign deposits and loans, special drawing rights (SDRs) at the International Monetary Fund (IMF), gold kept by the State Bank of Vietnam, outstanding credits, total means of payment. Indicators used to be considered ‘secrets’ and 35 other indicators will gradually made public in the period from 2012 to 2015.

 

Many statistical indicators changed

Recently, some ministries split apart or merged together and many indicators are left aside. Some areas of the old National Statistical Indicator System are combined with new indicators. For instance, the old monetary group was mixed with securities, insurance and real estate business, etc. Economic and administrative areas are combined into enterprise area. Trade area is added five indicators to 18. Agriculture, forestry and fishery area is supplemented 8 indicators to 28. Eighteen old indicators are downgraded from the national to ministerial level, including Population (1 indicator); Economic, administrative and professional base (2 indicators); National accounts (1 indicator); Money, securities, insurance (1 indicator); Culture, information and sport (11 indicators); Environmental protection (2 indicators), etc.

 

GSO Deputy General Director Nguyen Bich Lam said the new system outstandingly focuses on many indicators used by developed countries like productivity growth, GDP, green GDP, environmental indicators, monetary, financial, securities, etc. These indicators are highly complex.

 

However, according to Mr Lam, the addition of new indicators (compared with 274 indicators before) poses many challenges. GSO, ministries, agencies and localities are able to meet some 70 percent of indicators. Therefore, to fulfil this job, all statistical information providers from local to central levels must try their best. Data in the National Statistical Indicator System will be constructed and announced at the highest level for all users. No indicators are exclusively created for management agencies. All statistical data are transparent to providers and users to use them completely, accurately and effectively.

 

Que Chi