Peru - Real Change in Inventories

For Peru, the expenditure approach to gross domestic product, part of the quarterly national accounts, as reported by the Central Reserve Bank of Peru (BCRP). A parallel dataset is reported by INEI.

Active:

• National accounts framework: UN SNA 2008
• Measurements:
  • Millions of Peruvian soles at chained year-2007 prices (Mil. Ch. 2007 PEN)
  • At current prices (Mil. PEN)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Quarterly
• Start date: Uniformly 1980Q1

Predecessor:

• At current year-1994 prices - 1980 to 2013

GDP(E) from BCRP are presented quarterly and are adjusted to the values that are published by the National Accounts report from INEI. Noteable discrepencies between the two data sets are in the measurement of exports and imports of goods and services and the components of public consumption. The two sources use different methodologies to deflate values and bring it to real values.

BCRP's methods:

• Private consumption - Private consumption at constant prices is calculated using the offer of goods and services related to consumption and deducing inventory behavior.
  To bring it to current prices, the consumer price index is used.
• Public consumption - nformation on nominal consumption is provided, broken down into remuneration and goods and services of the general government. This category includes the government central, local governments and public institutions such as Regulatory Bodies, EsSalud, the Office of Pension Standardization (ONP), Public Charities, the Fund National Public Savings (Fonahpu) and the Consolidated Reserve Fund (FCR)
• Gross Domestic Investment: Actual levels of fixed gross investment of the sectors are estimated public and private. The quarterly real private fixed gross investment is calculated by the method of offer of goods. Based on the evolution of housing construction, imports of goods of capital and domestic production of capital goods
• Exports and Imports -  Nominal Paasche price indices estimated by the Central Bank are used to calculate real exports and imports of non-financial goods and services. The real values of exports in United States dollars are multiplied by the average exchange rate bank purchase to obtain real values in national currency. For the imports - the average bank sale exchange rate is used. For the current year and for those for whom information from the Directorate of National Accounts of INEI, apply the real and nominal variations of exports and imports of non-financial goods and services, obtained using the methodology described on the levels of the last year published by said institution.

Moody's Analytics supplements

For all series in the GDP(E) presentation, both nominal and real, we construct seasonally adjusted (SAAR) counterparts.

Yes.

Expect our SA supplements to be revised with each update to the fundamentals.

Further reading

At the source:

• Methodology (pdf)

At IMF (SDDS):

• Real sector - National accounts