18 Dec The ISTAC and the INE present the methodological changes for the estimation of regional GDP
By Instituto Canario de Estadística, (ISTAC), del Gobierno de Canarias The presentation was attended by the commissioner of the Economic and Fiscal Regime of the Canary Islands (REF), José
Ramon Barrera Hernandez, the Deputy Minister of Economy and Internationalization, Gustavo González
Vega, the director of ISTAC, Sergio Alonso Rodríguez, public administration technical staff,
members of the Canary Islands Statistics Council, research staff from the Canary Islands universities
and ISTAC technical staff.
Carlos Valero Rodríguez, Deputy Deputy Director of the Department of National Accounts of the INE, detailed
CRE methodological innovations, which today has its annual publication scheduled. On the part of the
ISTAC, Domingo Jesús Lorenzo Díaz, head of the Economic and Environmental Statistics Section and
responsible for financial accounts, focused on the analysis of changes in the GDP of
Canarias.
During the presentation, Valero explained that the changes incorporated in the methodology of this
statistical operation enter into the usual line of updates coordinated with all
Member States of the European Union (UE), in which improvements are incorporated that result in
more accurate and updated estimates with the data sources available at all times. It is
Updates are made every 5 años y, en concreto, This year it was necessary to carry out the
Extraordinary Review 2024 in all national and regional account operations.
In this update, several modifications have occurred that affect the entire territory.
national, mainly focused on the estimation of the Gross Value Added (VAB), and a modification
exclusive for net taxes on products, that affects the Canary Islands, Ceuta y Melilla,
due to the specificity of its taxation.
According to updated data from the CRE with this methodology, the growth of the Canarian economy
en 2023 fue del 5,1% compared to 2022. The Canary Islands are at the forefront of this growth
throughout the country, only behind the Balearic Islands (5,7%). The growth of the Spanish GDP,
published in September 2024, fue del 2,7%. For the Spanish economy, this methodological change
has supposed in 2021, year already published with definitive data, an increase in GDP at prices
currents of the 1,1%.
Methodological update for the Canary Islands
Domingo Jesús Lorenzo Díaz detailed the study process developed by ISTAC that led to the
proposal to modify the GDP calculation for the Canary Islands, taking into account its fiscal specificity. En
this case, The modification was not directed at the GVA, but to the other component of GDP calculation, los
net taxes.
The ISTAC proposal was based on updating the generic allocation that had been applied until
2022, why to the Canary Islands, like the rest of the autonomous communities, his collection was assigned
tax proportional to its GVA. The modification consisted of proposing an estimate of
net taxes on products for the Canary Islands based on their own taxation, which
will provide, from now on, more precise data on the GDP of the islands.
This update has implied a reduction of the 3,4% of the GDP of the Canary Islands for 2021, what is the year
where the data is already definitive. Para 2022, still with provisional data, the percentage of
minority is 1%.
The director of ISTAC, Sergio Alonso Rodríguez, emphasized “the technical relevance that this represents
new GDP calculation by ISTAC, for what it means of contribution and improvement to the
Regional Accounting of Spain”. “This is how the INE valued it when incorporating it in the update
extraordinary of its methodology that has been presented today and by submitting it for final approval to the
statistical office of the European Union, Eurostat”, he added.
Source:: Noticias Económicas de Canarias
