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Data Change: Colombia - GDP(O) - Reclassified and re-referenced to 2015
Thursday, 09 Aug 2018 08:42 ET
By Jaclyn Zylka
Summary
July 2018 -- For the output approach to GDP including GVA by industry, part of the quarterly national accounts for Colombia, the source has (a) advanced the classification from ISIC Rev. 3 to 4 and (b) advanced the currency reference year from 2005 to 2015 (128 quarterly series 2000 to 2017, replaced by 184 from 2005).
Detail

On 15 May, the source wrote (citation, pdf):

El trabajo de cambio de año base 2015 se desarrolló durante los últimos cinco años, siguiendo una agenda acordada con la OCDE, y con asistencia técnica del Fondo Monetario Internacional durante todo el proceso.

Hoy 15 de mayo, 45 días después de finalizado el trimestre, es la fecha prevista en la agenda, para la publicación de los resultados del PIB del primer trimestre 2018, calculados a partir del nuevo año base 2015.

A partir de esta primera publicación, se presenta la serie trimestral con año base 2015, desde el año 2005 hasta el primer trimestre de 2018.

That is:

The change of base year 2015 was developed during the last five years, following an agenda agreed with the OECD, and with technical assistance from the Monetary Fund International throughout the process.

Today, May 15, 45 days after the end of the quarter, is the date foreseen in the agenda, for the publication of the GDP results for the first quarter 2018, calculated at from the new base year 2015.

From this first publication, the quarterly series with base year 2015 is presented, from the year 2005 until the first quarter of 2018.

In response, we have:

  1. Archived the predecessors (ISIC Rev. 3, currency reference year 2005, 2000Q1 to 2017Q4) by renaming with an "_05" specifier, marking metadata as "discontinued", and by segregating in the catalog.
  2. Created replacements (ISIC Rev. 4, reference year 2015, from 2005Q1).
  3. Added "taxes less subsidies on product".
  4. Standardized mnemonics and metadata.

Dataset properties:

  • Industry classification: CIIU Rev. 4 A.C., the local adaptation of UN ISIC Rev. 4.
  • Measurements: Billions of Colombian pesos at current (Bil. COP) or constant (Bil. 2015 COP) prices
  • Adjustment: Seasonally adjusted (SA)
  • Native frequency: Quarterly
  • Start date: 2005Q1
  • Subject to revisions? Yes, annual benchmark and quarterly revisions
  • Lag: Three months

The series reside in the historical catalog (Colombia » National Accounts » by Value Add) and include, for example:

  • NACSGVAAF_05AQ.ICOL = [DISCONTINUED] National Accounts: By value add - Gross value added - Total, (Bil. 2005 COP, SA)
  • NACSGVAAFA1AQ.ICOL  = GVA - Agriculture; livestock; hunting; forestry and fishing [A], (Bil. 2015 COP, SA)
  • NALSGVA033A2AQ.ICOL = GVA - Production of cocoa; chocolate and confectionery products [033], (Bil. COP, SA)
  • NALSTLSAQ.ICOL      = Taxes less subsidies, (Bil. COP, SA)

Because catalog locations are subject to change, the upper-right search box on DataBuffet.com provides a "find in catalog" mode that accepts a mnemonic.

Please be aware that

The source reports GVA with two aggregations over the industries, and some categories are repeated. Because of this, we have inserted the specifier "A1" or "A2", and for consistency have done so for all mnemonics at each level. For example:

  • NACSGVAICA1AQ.ICOL = Information and communications - for coarse aggregation
  • NACSGVAICA2AQ.ICOL = for granular aggregation

References

See also

Other
Related ReleaseGVA by Industry
SourceNational Administrative Department of Statistic (DANE) - Colombia
FrequencyQuarterly
GeographyColombia
Upcoming
Release DateReference date
15 Aug 20192Q 2019
15 Nov 20193Q 2019