Front Matter Page
IMF Country Report No. 20/74
KINGDOM OF THE NETHERLANDS—ARUBA
TECHNICAL ASSISTANCE REPORT—NATIONAL ACCOUNTS REVIEW MISSION
March 2020
This Technical Assistance report on Kingdom of the Netherlands—Aruba was prepared by a staff team of the International Monetary Fund. It is based on the information available at the time it was completed on November 2019.
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Front Matter Page
TECHNICAL ASSISTANCE REPORT
KINGDOM OF THE NETHERLANDS—ARUBA
Report on National Accounts Review Mission (November 18–27, 2019)
DECEMBER 2019
PREPARED BY
Zia Abbasi
MEMBERS
Anguilla, Antigua and Barbuda, Aruba, The Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Curaçao, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands
PARTNERS
Canada, United Kingdom, European Union, Netherlands, Mexico, Caribbean Development Bank
DISCLAIMER
The contents of this report constitute technical advice provided by the staff of the International Monetary Fund (IMF) to the authorities of Aruba (the “TA recipient”) in response to their request for technical assistance. This report (in whole or in part) or summaries thereof may be disclosed by the IMF to IMF Executive Directors and members of their staff, as well as to other agencies or instrumentalities of the TA recipient, and upon their request, to World Bank staff, and other technical assistance providers and donors with legitimate interest, including members of the Steering Committee of CARTAC, unless the TA recipient specifically objects to such disclosure (see Operational Guidelines for the Dissemination of Technical Assistance Information). Publication or Disclosure of this report (in whole or in part) or summaries thereof to parties outside the IMF other than agencies or instrumentalities of the TA recipient, World Bank staff, other technical assistance providers and donors with legitimate interest, including members of the Steering Committee of CARTAC, shall require the explicit consent of the TA recipient and the IMF’s Statistics Department.
MEMBERS
PARTNERS
Contents
Glossary
SUMMARY OF MISSION OUTCOMES AND PRIORITY RECOMMENDATIONS
PREREQUISITES, DATA SOURCES, AND METHODS
A. Strengthening Prerequisites, Staff Capacity, and Other Resources
B. Finalization of the SUT Benchmark Estimates
C. Compilation of the Revised GDP Estimates
DETAILED TECHNICAL ASSESSMENT AND RECOMMENDATIONS
A. Officials Met During the Mission
TABLES
1. Priority Recommendations
2. Use of Financial Statements in Compiling the GDP-P Estimates
APPENDICES
I. Action Plan 2020–2025
II. Project Timetable 2020–2025
III. Data Quality Assessment Summary
IV. Improving Data Sources and Indicators
V. Improving the GDP-P Methodology
VI. Improving the GDP-E Methodology
Glossary
2008 SNA |
System of National Accounts 2008 |
BOP |
Balance of payments |
CARTAC |
Caribbean Regional Technical Assistance Centre |
CBA |
Central Bank of Aruba |
CBS |
Central Bureau of Statistics |
CFC |
Consumption of fixed capital |
ci.f. |
Cost including insurance and freight |
COE |
Compensation of employees |
COICOP |
Classification of Individual Consumption According to Purpose |
CPI |
Consumer price index |
CPV |
Current price values |
FCE |
Final consumption expenditure |
FISIM |
Financial intermediation services indirectly measured |
GDP-E |
Gross domestic product by expenditure |
GDP-P |
Gross domestic product by economic activity |
GFCE |
Government final consumption expenditure |
GFCF |
Gross fixed capital formation |
GVA |
Gross value added |
HFCE |
Household final consumption expenditure |
HIES |
Household Income and Expenditure Survey |
IC |
Intermediate consumption |
IMTS |
International Merchandise Trade Statistics |
I/O ratio |
Intermediate consumption to output ratio |
ISIC |
International Standard Industrial Classification of All Economic Activities |
LFS |
Labor Force Survey |
KPV |
Constant price values |
MFEC |
Ministry of Finance, Economic Affairs and Culture |
MOU |
Memorandum of understanding |
NAD |
National Accounts Division |
NAS |
National Accounts Survey |
NPISHs |
Non-profit institutions serving households |
PIM |
Perpetual inventory model |
PPI |
Producer price index |
SDDS |
Special Data Dissemination Standard |
SDGs |
Sustainable Development Goals |
SSB |
Social Security Bank |
SUT |
Supply and Use Tables |
TA |
Technical assistance |
TD |
Tax Department |
TES |
Tourist Expenditure Survey |
TTMs |
Trade and transport margins |