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New National Accounts Review

24 September 2019
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In order to keep up with the latest developments in the ever-accelerating pace of economic dynamic, the accounts describing part of the economic reality of countries need to be frequently reviewed.

Thus, within the European System of National Accounts (ESA), with which Portugal is aligned, it is expected to review the entire time frame of the National Accounts series, every 5 years, for the years ending in 4 and 9.


On the 23rd September 2019, the National Accounts changed from the 2011 to the 2016 basis. And this was not just in Portugal. This update of the reference year is a common practice in the European Union countries, and should be implemented by more than 20 countries in 2019.

 

In PORDATA you can find the most recent values of the National Accounts - in the Macroeconomics Theme; Debt and Deficit, Revenue of Government Administrations and Expenditure of Government Administrations Subthemes of Public Accounts - now released by Statistics Portugal and the Bank of Portugal since 1995.

It should be noted that PORDATA has been presenting data for some indicators since 1960 by retropolation of the series from the successive application of the rates of change of data prior to 1995 (in most cases from the long series of the Bank of Portugal) to the new value for 1995 on the 2016 basis of the Portuguese National Accounts.

 

Concurrently, PORDATA presents data on the main deflators, namely those of GDP and of Private Consumption, which allow the conversion of current/nominal prices into constant/real prices, enabling the analysis of price developments over time, without the effect of inflation.


You can, thus, convert any PORDATA indicator expressed in euros at current prices into constant prices, using the two “Constant Prices - GDP” and “Constant Prices - CPI” buttons on all PORDATA tables.


Therefore, PORDATA can deflate by itself. Just click on the available deflators on the left side of the table after selecting the option “View full table” or “More options and data”.

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