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Data Change: South Korea - QNA - Re-referenced to 2015
Wednesday, 31 Jul 2019 19:41 ET
By Annie Kao
Summary
July 2019 -- For the quarterly national accounts of South Korea, including the expenditure and production approaches, concurrent with dissemination of results for 2019Q2, the currency reference year has been advanced from 2010 to 2015 (226 quarterly series 1960 to 2019, replaced from 2000).
Detail

Earlier, on 4 Jun, the source wrote (citation):

The Bank of Korea has released the initial results of the 2015 benchmark revision of Korean National Accounts, beginning with statistics for 2000.

This revision includes an update of the reference year from 2010 to 2015 along with changes in source data, concepts and methodologies. [...]

In response, we have:

  1. Archived the predecessors (at 2010 prices, as early as 1960Q1 to as late as 2019Q1) by renaming with an "_10" specifier, marking metadata as "discontinued", and segregating in the catalog.
  2. Otherwise standardized the mnemonics (see below).
  3. Created one-for-one replacements (at 2015 prices), which start at 2000Q1.
  4. Extended 17 SA series, from 1960Q1 to 1999Q4.
  5. Recalculated our identity supplements (trade balance).
  6. Added six series at 2010 prices (trade in services) for completeness.
  7. Removed the "Moody's Analytics Estimated" secondary source citation from predecessors that are no longer extended.

Dataset properties:

  • Framework: UN SNA 2008
  • Industry classification: KSIC Rev. 10
  • Measurements: Billions of Korean won at current prices (Bil. KRW) or chained year-2015 prices (Bil. Ch. 2015 KRW)
  • Adjustments: Seasonally adjusted (SA) or not (NSA)
  • Geo coverage: Country
  • Native frequency: Quarterly
  • Start date: 2000Q1

The series reside in the historical catalog (South Korea » National Accounts » By expenditure | By value add) and include, for example:

  • NAHSGVA28_10AQ.IKOR = [DISCONTINUED] Production approach - Gross value added [GVA] at basic prices - Machinery and equipment, (Bil. Ch. 2010 KRW, SA)
  • NALEIM_10AQ.IKOR    = [DISCONTINUED] Expenditure approach - Imports, (Bil. KRW, SA)
  • NAHEGCF_10UQ.IKOR   = [DISCONTINUED] Expenditure approach - Gross capital formation, (Bil. Ch. 2010 KRW, NSA)
  • NAHSGVA28AQ.IKOR    = Production approach - Gross value added [GVA] at basic prices - Machinery and equipment, (Bil. Ch. 2015 KRW, SA)
  • NALEIMAQ.IKOR       = Expenditure approach - Imports, (Bil. KRW, SA)
  • NAHEGCFUQ.IKOR      = Expenditure approach - Gross capital formation, (Bil. Ch. 2015 KRW, NSA)

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

Household consumption detail (NACEHCE?Q.IKOR) is still reported at 2010 prices.

Data Buffet concept codes differentiate between currency values expressed at constant prices vs. chain-linked prices, the two forms of inflation adjustment. We have applied this systematic change (standardization) to both the 2010- and 2015-price subsets:

  • NAC· » NAH·

If you have a legacy basket or other retrievals, existing references will now return "series not found" errors. You will need to edit the basket to use the amended mnemonics; the basket editor includes a "find and replace" tool.

References

See also

Other
Related ReleaseGDP
SourceThe Bank of Korea
FrequencyQuarterly
GeographyKorea (Republic of) (South)
Catalog
Upcoming
Release DateReference date
23 Jan 20204Q 2019
01 Mar 20204Q 2019
23 Apr 20201Q 2020
Attachments