An updated version of the System of National Accounts (SNA), together with and updated version of the Balance of Payments Manual (BPM), will become available in 2025, including new guidance in areas such as globalisation, digitalisation, evolving financial markets, informal economy, and well-being and sustainability. As in the past, changes in the SNA will be reflected in the European System of National and Regional Accounts (ESA), the EU standard for the compilation of National Accounts, to keep it aligned to the global standard. 

Implementing several of the forthcoming changes will come with challenges to ensure high-quality standards and cross-country comparability. These aspects are particularly relevant in Europe, where national accounts data are largely used for administrative purposes with substantial budgetary implications for the EU Member States.

National Statistical Institutes in the European Statistical System (ESS) as well as in other OECD countries are already preparing for the implementation of the updated standards, looking into possible data sources and developing new methods, producing a first set of estimates and identifying existing shortcomings which will have to be overcome “at regime”. These experiences may contribute to the ongoing development of compilation guidance for the most challenging recommendations (e.g., on natural capital, data as an asset or crypto assets).

This session will focus on this “early implementation” work and will provide an occasion to exchange experiences and views among experts from different world regions. It is expected to enhance the understanding of the practical aspects behind the innovations in the updated SNA, ESA and BPM, and facilitate their implementation.