International Comparison Program 2011: Objective and Scope

Objective

With the implementation of the 2011 ICP, it is hoped that implementation of international standards in macro- and micro-economic statistics with emphasis on price statistics and national accounts will be improved.  In particular, the expected outcome is that of improving the capability and comparability for macroeconomic outputs for the Asia and Pacific region.

Scope

To achieve the desired outcome, the R-RDTA will have three major components: (i) setting up the governance structure; (ii) presurvey preparations; and (iii) data collection and validation; and PPP computation.

Setting up the governance structure. Three levels of partnership will be forged: (i) with participating DMCs; (ii) with the ICP Global Office at the WB; and, (iii) with the Regional Advisory Board (RAB), the highest policy making body for ICP Asia Pacific.

Presurvey preparations.  This will include: (i) the development of product catalogues; (ii) drawing up of country sampling design frameworks for the conduct of price surveys; and (iii) technical discussions on methods to be adopted for the 2011 ICP.  Trainings and workshops will be conducted to guide countries on technical matters and to resolve issues and concerns prior to the conduct of field operations/surveys.

Data collection, validation and PPP computation. Given the nature of the R-RDTA, each participating DMC will conduct monthly price surveys for household items based on approved sampling designs and price collection methods.  They will be required to submit the following prevalidated price information:  individual price quotations, national annual average prices, coefficients of variation, and total number of quotations for each product or service priced every month.  They will also be requested to provide a detailed breakdown of 2011 final GDP expenditures by basic heading; and, (ii) 2011 midyear population. For the nonhousehold sectors (construction, machinery and equipment, and government compensation), the periodicity and manner of price collection will be closely linked to the TAG recommendations.