Overview Overview

Economic globalisation has led to a more connected world with far-reaching impact on production arrangements, international trade and foreign investment, economic growth, labour market and many other sectors of the economy. The growing cross-border interactions and the increase in openness of nations also bring measurement challenges for suppliers of micro and macroeconomic data, but the reading and application of statistics is also becoming more difficult.

As a consequence of globalisation the relevance of legal national borders is fading and it is becoming more and more difficult to apply the standard definitions regarding internal (domestic or national) vs. external (foreign) economic activities. Therefore, the dividing line between resident and non-resident economic units – a major distinction for macroeconomic statistics is also fading.

Reflection paper on harnessing globalisation, European Commission, COM(2017) 240, page 6

This dedicated section aims at satisfying the need for information on economic globalisation from the point of view of business statistics and macroeconomic statistics by providing background information, concepts and definitions, statistics, and their proper use, presentation and interpretation.