Fit-for-purpose external statistics in a changing global landscape

Abstract

External statistics, which have traditionally been crucial to monitor the health of open economies, are again becoming increasingly important, as they are key to supporting more informed decisions by policymakers to pursue the most efficient strategies. Tax records, social security data, credit card data or mobile phone data have proved to be very useful in complementing surveys and other traditional data sources. High-quality and timely external statistics that also minimise the burden on reporting institutions are essential.