Background
External and financial statistics provide a comprehensive overview of a nation’s economic and financial interactions with the rest of the world. These statistics are crucial for gauging economic openness, international competitiveness, and vulnerability to external shocks. Key components include the Government Financial Statistics, Balance of Payments (BoP), which systematically records all economic transactions between residents and non-residents, and the International Investment Position (IIP), which shows the value of a country’s external financial assets and liabilities. Together with data on external debt and international reserves, these statistics are indispensable for effective monetary and fiscal policy management, enabling authorities to monitor capital flows, manage exchange rates, and ensure overall macroeconomic stability.
Objectives
- To compile and disseminate timely, reliable, and comprehensive data on the Government Financial Statistics, Balance of Payments, International Investment Position, external debt, and foreign reserves.
- To enhance the quality and granularity of external sector statistics to meet the evolving needs of policymakers, investors, and international organizations.
- To ensure full alignment of national data compilation and reporting practices with the latest international methodological standards, such as the IMF’s Balance of Payments and International Investment Position Manual.
- To strengthen data collection frameworks and expand source data to improve the accuracy and coverage of all external and financial statistical outputs.