8 minute readGovernment deficit is a key indicator that attracts a lot of policy interest. It reflects when the fiscal balance – also referred to as net lending minus net borrowing – is negative. This article outlines how government total revenue and expenditure are calculated and how the fiscal balance is derived, and it explains why analysts have a particular interest in cases where governments run a deficit.
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5 minute readImport duties – commonly referred to as tariffs – are charges levied on certain goods when they enter an economic territory. The 2008 System of National Accounts explains that they may be intended as a means of raising government revenues and/or protecting domestic industries by discouraging imports.
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2 minute readFor many years Governments and international organisations have publicly espoused the advantages of evidence-informed decision making. But in recent years we have witnessed a subtle but noteworthy shift in rhetoric away from evidence-informed in favour of data-driven decision making. At first glance this evolution seems welcome – decisions are now driven by data, implying those decisions must be objective and scientific. But is this the case?
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5 minute readIn 2024, global trade in goods – including agricultural products, energy, electronics, and more – exceeded 24 trillion USD. At the same time, global trade in services – including transport, travel, legal, advertising, and more – grew to 8.7 trillion USD. In this truly interconnected world, where goods are manufactured using materials and components from across the globe, and services can be digitally ordered and/or delivered, understanding international trade statistics is more important than ever.
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6 minute readThe 2025 OECD Social Policy Ministerial brought together Ministers, policymakers, and global leaders to foster dialogue, share best practices, and strengthen our collective commitment to building resilient, inclusive and fiscally sustainable social protection systems. Social protection must respond to pressing global mega-trends, including population ageing and rapidly changing labour markets, as well as the digital and green transitions, and climate change.
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5 minute readUnderstanding and taking informed policy actions to improve child well-being requires reliable data on a range of outcomes – from health and education to social interactions and living conditions. These data aid policymakers in identifying emerging challenges, prioritising areas for improvement, and in targeting support towards those who need it most. A comprehensive set of high-quality indicators to monitor child well-being can also support holistic, whole-of-government policies that ensure every child enjoys a positive childhood.
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4 minute readTo compare macroeconomic indicators across countries, we must adjust for differences in currencies and price levels to ensure we are comparing apples with apples, and not apples with oranges. Purchasing Power Parities (PPPs) are the right tool for this because they are constructed based on prices of a common and comprehensive basket of goods and services, serving both as currency convertors and price deflators. As a result, PPPs are the conversion rates to be used when comparing macroeconomic indicators, such as GDP and price levels, across countries.
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4 minute readProductivity is a core determinant of long-term economic growth, living standards, and international competitiveness. Policymakers and analysts rely on productivity trends to guide decisions on growth, competitiveness, and structural reforms. Discover how innovative nowcasting techniques harness machine learning and mixed-frequency data to track labour productivity in near real-time. This approach blends high-frequency indicators—like monthly surveys or industrial output—with more traditional quarterly data. By swiftly capturing changes in economic activity, it provides timely insights into productivity trends and potential turning points. Policymakers and analysts can then react faster, refining forecasts and adapting strategies in a rapidly shifting economy.
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