Dominica: Technical Assistance Report-Improving Estimates of Gross Domestic Product (August 29–September 8, 2023)

A joint CARTAC, IMF capacity development engagement with the Central Statistics Office (CSO) in the Ministry of Finance in Dominica to improve estimates of Gross Domestic Product (GDP) was undertaken. The capacity development focused on three main aspects: supporting improvements of the GDP series in line with the 2008 SNA standards, including training for re-referencing the volume estimates of GDP; identifying data holdings which could be used to improve the quality of the estimates; and developing a work program for improving the timeliness of macroeconomic statistics in Dominica. Administrative data including value added tax data was used to compliment survey based estimates to enhance the current price estimates of GDP. To identify potential other data sources, meetings with various government stakeholders took place to discuss accessibility of data to continue to improve the quality of the macroeconomic estimates in the future. In addition to re-referencing the volume estimates of GDP to 2018 prices (from the existing 2006 base year), refinements to the GDP compilation system were developed to increase the capacity development of the staff to maintain and update the compilation of macroeconomic statistics in the future.