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ESA2010

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The Office for National Statistics (ONS) is currently undertaking a major project to implement changes generated by revised international guidance manuals within the UK National Accounts; specifically the European System of Accounts (ESA2010) and Balance of Payments and International Investment Position Manual (BPM6) (3.08 Mb Pdf) . Changes generated by revisions cover; measurement of concepts, methods and compilation. This will bring them in line with the System of National Accounts 2008 (SNA2008) (9.3 Mb Pdf) . Changes need to be fully implemented by September 2014, subject to a range of agreed derogations by Eurostat.

Achieving compliance with the revised international standard for the UK National Accounts and Balance of Payments statistics is a priority for the ONS over the coming years. A combined project titled 'ESA2010' has been set-up to deliver these new methods and systems.

What is ESA2010?
  • Updated version of the existing systems reflecting changes in national economies
  • Consistent with the worldwide System of National Accounts 2008 (SNA2008)
  • Consistent with the IMF Balance of Payments International Investment Position Manual (BPM6)
  • Obligatory for EU Member States’ returns to Eurostat from September 2014
  • GNI estimate used to calculate fourth resource to EU budget
What is BPM6?
  • Consistent with the worldwide System of National Accounts 2008 (SNA2008)
  • Greater focus on balance sheets and balance sheet vulnerabilities
  • Increased detail of foreign direct investment transactions required, consistent with the OECD Benchmark Definition of Foreign Direct Investment
  • New concepts for measurement of international remittances
  • Introduction of merchanting of goods and services
  • Equivalent to the rest of the world sector in the national accounts
Content from the Office for National Statistics.
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