Turnover in services

National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Agency for Statistics of Bosnia and Herzegovina (BHAS)


Eurostat metadata
Reference metadata
1. Contact
2. Metadata update
3. Statistical presentation
4. Unit of measure
5. Reference Period
6. Institutional Mandate
7. Confidentiality
8. Release policy
9. Frequency of dissemination
10. Accessibility and clarity
11. Quality management
12. Relevance
13. Accuracy
14. Timeliness and punctuality
15. Coherence and comparability
16. Cost and Burden
17. Data revision
18. Statistical processing
19. Comment
Related Metadata
Annexes (including footnotes)
 



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1. Contact Top
1.1. Contact organisation

Agency for Statistics of Bosnia and Herzegovina (BHAS)

1.2. Contact organisation unit

Business Statistics Sector – Department for Services Statistics

1.5. Contact mail address

Zelenih beretki 26, 71 000 - Sarajevo


2. Metadata update Top
2.1. Metadata last certified 14/06/2023
2.2. Metadata last posted 14/06/2023
2.3. Metadata last update 14/06/2023


3. Statistical presentation Top
3.1. Data description

The data are published in the form of quarterly and annual change rates calculated from the other services turnover indices of BiH, quarterly series of base indices (2015 = 100), and gross (unadjusted) indicators (growth rates and indices). 

3.2. Classification system

Classification of Economic Activities of BiH 2010 (KD BiH 2010) for enterprises (fully harmonized with all levels of NACE Rev.2) and UN International classification of activities (ISIC).

3.3. Coverage - sector

The data for Services Turnover Index (STI) are the result of conducting three-standalone STS quarterly surveys on Other services (sections I, J, M, N), Transportation and storage (section H) and Distributive trade (G45, G46), which comprises business entities/legal units which are, by the main activity, registered within service activities:

G45 - Wholesale and retail trade and repair of motor vehicles and motorcycles;

G46 - Wholesale trade, except of motor vehicles and motorcycles;

H - Transportation and Storage;

I - Accommodation and food service activities;

J - Information and communication;

M - Professional, scientific and technical activities (excluding group 70.1 and divisions 72 and 75); N - Administrative and support service activities (excluding division 77 and groups 81.1 and 81.3).

The STI surveys covers the entire territory of Bosnia and Herzegovina. Entrepreneurs are not included

3.4. Statistical concepts and definitions

Services turnover index is calculated by aggregating the realized turnover data for referent quarter. Services statistics take an important place in the national economy and have a major role in recent decades. The reason for this is the large number of business entities engaged in services, especially in trade activities, and the fact they have a significant contribution in realized turnover of BiH.

STS variable 120 - Turnover is the total invoiced amount that a business entity invoices to third parties for sold goods during the reference period, and it corresponds to their market values. Includes costs associated with the sale, such as transportation, packaging, etc. that are transferred to the customer, even if these amounts are stated separately on invoices. Value Added Tax (VAT) is excluded from the turnover.

Primary goal of services statistics is to provide timely information on change of level of realized turnover and other relevant indicators. The services turnover index is one of the indicators of economic activity in the country, which helps government bodies, and private sector enterprises in the decision-making process. It is also applied for the estimation of service sector output, household consumption, as well as in the calculation of national accounts. Survey methodology is completely harmonized with the one prescribed by Council Regulation (EC) No.1165/98 concerning short-term statistics from the 1998 (Annex D) and its amendments (hereinafter EU STS regulation) and with Eurostat recommendations for this statistical area.

3.5. Statistical unit

Observation units in the statistical survey are business entities/legal units which are, by the main activity, registered to perform activities within following sections (G45 - Wholesale and retail trade and repair of motor vehicles and motorcycles; G46 - Wholesale trade, except of motor vehicles and motorcycles; H - Transportation and Storage; I - Accommodation and food service activities, J - Information and communication, M - Professional, scientific and technical activities (excluding group 70.1 and divisions 72 and 75), N - Administrative and support service activities (excluding division 77 and groups 81.1 and 81.3).

For conducting quarterly surveys on STI in BiH the combined method of full coverage and stratified random sampling is used. The sample is divided into strata according to class of financial data (financial report of the previous year) and the activity of business entity (divisions of sections G45, G46, H, I, J, M, N - KD BiH 2010). As an additional stratification variable, the number of employees is used. The chosen samples for STI surveys in 2022 are representative at the level of Bosnia and Herzegovina, Federation of BiH, Republika Srpska and District Brčko of BiH.

 
3.6. Statistical population

Target population covers all active business entities/legal units that are, according to the main activity, in the Statistical Business Register registered within respective service indiustries according to KDBiH 2010. In addition, entities/legal units that are, according to their main activity, registered in other activities but realise significant turnover in service activities are also included. Entrepreneurs are not covered by the STI surveys.

3.7. Reference area

Data refer to the whole territory of BiH

3.8. Coverage - Time

STI covers time series for Distributive trade starting from first quarter of 2006, Transportation and Storage from Q4 2010 and Other services from Q1 2010. Data are regulary published on quarterly basis. Data are available as gross indices as well as seasonal and calendar adjusted turnover indices.  

3.9. Base period

Services turnover index is calculated on the base (2015) year, and used in the calculation of the indices from January 2018. EU Regulation (EC) No. 472/2008 prescribes the application of the base 2015 from January 2018 in EU member states.


4. Unit of measure Top

Data from respective STI surveys are published as turnover indices and growth rates (in %).


5. Reference Period Top

Reference period is a calendar quarter.

 


6. Institutional Mandate Top
6.1. Institutional Mandate - legal acts and other agreements

- Law on Statistics of BiH (Official Gazette of BiH No. 26/04 and 42/04), as well as laws on statistics of the entity statistical institutions. Agency for statistics of Bosnia and Herzegovina is responsible for data collection, data processing and data publishing for the state level (BiH level) as well as for implementation of methodologies in all three statistical institutions in BiH in a unique way;

- Multi-annual statistical work programmes for BiH (2021 – 2024) and Annual work plans of BiH;

- Strategy for development of statistics of Bosnia and Herzegovina 2020;

- International recommendations and manuals (Eurostat, IMF, UN);

- EU Regulation no. 1165/98 (Annex D), including its amendments.

6.2. Institutional Mandate - data sharing

- Data delivery/exchange between the Entity Statistical Offices (Republic Statistical Office of Republika Srpska and Federal Institute for Statistics of the Federation of BiH) and the Agency for Statistics of BiH is regulated by the Laws on statistics, as well as an Agreement on the exchange of data between all three statistical institutions;

- Data delivery to external users - state institutions in the country which is regulated by the Law on Statistics and other laws that regulate the work of state institutions (eg. Directorate for Economic Planning BiH; Ministry of Finance of BiH; Central Bank of BiH etc.);

- Statistical Office of the European Union (Eurostat);

- External users – international organisations like UN Statistics Division (UNSD), International Monetary Fund (IMF), World Bank (WB), etc. based on their requests and/or agreements signed;

- Other users (students, academic community, individual users, etc.) in accordance with special procedures defined by the Agency and with the individual agreements signed.


7. Confidentiality Top
7.1. Confidentiality - policy

Law has regulated confidentiality of statistical data, and staff conducting statistical survey are obliged, under the same legislation, to protect confidentiality. The Law on Statistics of BiH (Official Gazette of BIH 26/04 and 42/04 - Chapter XI - Articles 23-29) sets forth the principle of confidentiality as one of the main principles. The Agency for Statistics of BiH disseminates statistics in accordance with the statistical principles of the European Statistics Code of Practice, and especially with the principle of statistical confidentiality.  

7.2. Confidentiality - data treatment

The document titled “Book of Rules on Protection of Statistical Data in the Agency for Statistics” contains the procedure to secure confidentiality during data gathering, processing and dissemination - which includes protocols securing individual data to which access is allowed, rules defining confidential cells in the output tables and procedures for detection and prevention of subsequent disclosures, as well access to micro-data for the survey purposes.


8. Release policy Top
8.1. Release calendar

Release calendar for Statistical Press Releases in BiH is published in advance for the entire year and it contains detailed information about all publications planned to be published. In December every year, Agency for statistics of BIH publishes on a website a calendar with accurate dates and time of publication of statistics for the next year (release calendar is published on the website and in .pdf format). Deadline for publishing the Other services, Transportation and storage and Distributive trade turnover indices is 55 days (t+55) after the end of referent quarter (t), in example: 25.05. for the first quarter. 

8.2. Release calendar access

The release calendar of Statistical publications for publicity in BiH for year 2022 is available on following link: https://bhas.gov.ba/data/Dokumenti/Kalendar%20publikovanja/KALENDAR_2022.pdf

8.3. Release policy - user access
All press releases are published in accordance with the defined Release calendar on an exactly specified date at 11 o’clock, on the Agency’s website. If the release is delayed, the relevant information are posted on the website and a new date/time schedule is announced. All publications for users are available in 4 languages, including 3 local languages and English version. Users do not have access to new data prior to their official publication on the AgencyS’s website, nor is possible for them to be granted access to the data earlier. The principle that all users should have equal access to statistical data on an unbiased bases is set out in Article 8, paragraph (2), subparagraph h) and Article 19, paragraph (2) of the Law on Statistics of BiH, and BHAS consistently implements it in practice. 


9. Frequency of dissemination Top

Other services, Transportation and storage and Distributive trade turnover indices (STI) for BiH are disseminated quarterly.


10. Accessibility and clarity Top
10.1. Dissemination format - News release

Press releases of the Other services, Transportation and storage and Distributive trade turnover indices are published on regular quarterly basis, in accordance with the defined date of publishing in the Release calendar, at 11 o’clock, on the Agency’s website: www.bhas.gov.ba in pdf format and also as a hard copy, upon request.

https://bhas.gov.ba/data/Publikacije/Saopstenja/2023/STS_05_2022_Q4_1_EN.pdf;

https://bhas.gov.ba/data/Publikacije/Saopstenja/2023/STS_04_2022_Q4_1_EN.pdf;

https://bhas.gov.ba/data/Publikacije/Saopstenja/2023/STS_03_2022_Q4_1_EN.pdf

10.2. Dissemination format - Publications

- BiH in figures – section “Trade and other services”

https://bhas.gov.ba/data/Publikacije/Bilteni/2023/NUM_00_2022_TB_1_EN.pdf

 
10.3. Dissemination format - online database

Online database in Excel is available on the following link: https://bhas.gov.ba/Calendar/Category/20

10.4. Dissemination format - microdata access

Micro-data are not disseminated and users have no access to them.

10.5. Dissemination format - other

Data are transmitted to Eurostat, which also publishes data for Bosnia and Herzegovina on its website.

10.6. Documentation on methodology

Methodological explanations are available at the end of every STS press release, which is available on the Agency’s website: https://bhas.gov.ba/data/Publikacije/Saopstenja/2023/STS_05_2022_Q4_1_EN.pdf;

https://bhas.gov.ba/data/Publikacije/Saopstenja/2023/STS_04_2022_Q4_1_EN.pdf;

https://bhas.gov.ba/data/Publikacije/Saopstenja/2023/STS_03_2022_Q4_1_EN.pdf

- Methodological framework for the development of short-term business statistics in BiH and Methodological guidelines for the Distributive trade turnover index for BiH is available on the Agency’s website:

https://bhas.gov.ba/data/Publikacije/Metodologije/STS_07_2012_MD_0_BS.pdf;

https://bhas.gov.ba/data/Publikacije/Metodologije/STS_02_2014_MD_0_BS.pdf

10.7. Quality management - documentation

Development of the Quality Report is in progress and the one will be available on Agency’s website.


11. Quality management Top
11.1. Quality assurance

BHAS follows the recommendations for quality management and organisation provided in the European Statistics Code of Practice (CoP) and implements the guidelines provided in the European Statistics System Quality Assurance Framework (QAF). More details about quality assurance and all procedures describing the BHAS quality policy are contained in the document: BHAS Quality management policy and mechanisms: https://bhas.gov.ba/Content/Read/92?title=Kvalitet&lang=en

11.2. Quality management - assessment

The Services turnover index (STI) is an important STS indicator of economic activity of the country, which helps government bodies and companies from the private sector in the decision-making process. It is applied for the assessment of the results of the overall service sector, as well as, the calculation of national accounts. The data for STI are the result of conducting three-standalone STS surveys with a high response rate of reporting units as well as the consistency of the data obtained, which are submitted through regular quarterly surveys. STI is calculated and published for BiH and submitted to Eurostat in accordance with the internationally recommended methodology applied by all three statistical institutions in BiH in a harmonized manner. Data are published on a regular quarterly basis, accurately and on the same date, and are available to the users. STI is also internationally comparable because it‘s produced in line with EU and international concepts, definitions and classifications. In addition, it is comparable from the time distance and frequency of publishing, and it is comparable with other STS surveys, annual structural business statistics (SBS) and national accounts (NA).

Note: In 2015, the Sector Peer Review for Business Statistics was conducted, which provided an assessment of the STI surveys and proposals for improving its quality.


12. Relevance Top
12.1. Relevance - User Needs

Key users of the STI data are:  BiH Directorate for Economic Planning within Council of Ministers of BiH; Central bank of BiH; Eurostat, United Nations Statistical division (UNSD). Users of the data are also business entities - enterprises, commercial banks, media and general public. Internally, data are used in the National Accounts for the production of Gross Domestic Product and for comparisons and controls in the Structural Business Statistics and Short-term Business Statistics.

12.2. Relevance - User Satisfaction

Agency for Statistics of BiH conduct the User Satisfaction Survey every 3 years. The Survey was carried out in 2020 for the second time. A total of 242 users was asked to respond to the questionnaire and 107 users provided their responses. Most interviewees visit the internet site and use the Agency’ statistical data occasionally (37.0%) or monthly (24.0%), at the same time, our website is daily visited by 7.0% of interviewees. Most interviewees are interested in the statistics of the population census (64.0%), then the wages and salaries statistics (56.0%), education statistics and prices (38.3%). A report on the survey conducted is posted on the Agency’s website and is available to the users:

https://bhas.gov.ba/data/Dokumenti/Kvalitet/AZK2020_BS.pdf

Users’ main needs for data pertain to the website notification format.  Namely, for the purpose of easier data management and their analysis, pdf format of the notification does not suit the users’ needs and efforts are being made for excel tables to also be posted.

12.3. Completeness

Having in mind the requirements from the EU STS Regulation 1165/98, Annex D,  which refers to the level of detail for STI (STS variables 120), as well as the length of time series, all requirements are met. STI time series are available from 2006 (G45 and G46) and for sections (H, I, J, M, N) from 2010.


13. Accuracy Top
13.1. Accuracy - overall

Quarterly data are obtained by using the reporting method, using the separate paper questionnaires (K KPS TRG 02; K KPS TRAN 01; K KPS USL 01) and represent the basis for estimating data for the total population. Data are subject to sampling errors, non-sampling errors, data entry and processing errors and non-response errors. Considering a very high response rate, about 97.5%, overall accuracy is very good. For all reporting units included into the sample, data must be completed before data compilation (reporting units are re-called or visited and, if even after re-calling it is not possible to obtain data from them, imputation shall be applied).   

13.2. Sampling error

There is no estimation available, nor has the sampling error been assessed, because it is very difficult to calculate it. STI indices were calculated by using a combined method of full coverage (large and medium size enterprises) and stratified random sample (small enterprises, annual turnover less than 1 million euros).

13.3. Non-sampling error

Data are partly available based on the reports obtained from STS IT application for STS surveys (Other services, Transportation and storage and Distributive trade) and they refer to the coverage errors and non-response errors. Coverage error: Overall coverage error is 1.3%. Over-coverage rate: The over-coverage rate is 1.3%.

Common units proportion: this survey does not combine data (do not use units) from two or more data sources (eg. administrative and statistical data). The data are obtained based only on the conducted quarterly statistical surveys.

Measurement error: Measurement errors may occur during the filling in questionnaire by the reporting units and also during the data entry into the SPPI - IT application by the data entry operators in the statistical institutions in BiH. The first data validation, so-called visual data validation, is performed during the collecting questionnaire from the reporting units (uncompleted data, illegible data, etc.). After entering collected data from the questionnaires into the SPPI IT application, database with raw data is created. Afterwards micro-data is automatically validated at the enterprise level, trough previously established logical controls. Primary data validation is performed by the Entity Institutes for Statistics – FIS and RSIS, while for the territory of the Brčko District of BiH, the control is performed by the Branch office of the BHAS. Additional controls are only possible at the aggregated level at which the entity Institutes submits their respective data to the Agency for Statistics of BiH.

Unit non-response rate: The total non-response rate is approx. 2.5%. Variable non-response rate: variable non response is not recorded. In case of unit non-response, the following imputation methods are used: based on data from the previous month, the same month of the previous year or based on data on the turnover of the most similar units (same strata). In case of non-respons for individual items, the reporting units are contacted by phone, until the requested information is obtained. Further verification of the submitted data is performed by applying logical and mathematical controls during and after entering data into the STS IT application


14. Timeliness and punctuality Top
14.1. Timeliness

Data collection is done on quarterly basis. Reporting units have deadline 15 days after the end of the quarter for submitting data for the previous (reference) quarter. Eventually, few more days are available for re-calling of reporting units, which did not delivered the report in order to get the data for all reporting units. Deadline for data publishing is in average 55 days after the end of referent quarter (t+55) for the level of BiH for the Preliminary results. Preliminary results shall become final on the date of publication of the press release for the next quarter

14.2. Punctuality

There is no discrepancy between announced and real date of publishing (according to the Release calendar).  All 12 press releases of the STI from quarterly STS surveys (Other services - 4, Transportation and storage - 4 and Distributive trade - 4) are published on the date of publication as foreseen in the Release Calendar.


15. Coherence and comparability Top
15.1. Comparability - geographical

Considering that methodology of the STI surveys is fully harmonised with the methodology set out in Council Regulation (EC) No. 1165/98, Annex D, on short-term business statistics from 1998 and its changes and amendments (EU-STS Regulation) as well as with Eurostat's recommendations for this statistical area, the data are comparable with those of EU member states.

15.2. Comparability - over time

The data series for Distributive trade statistics are available since 2006. The quarterly survey conducted by the entity statistical offices until the end of 2012, was partially in line with the requirements of EU STS Regulation. Available historical data series have been recalculated for the period 2006-2012 using the "matched sampling" and "overlapping" (overlapping period) methods in order to avoid break in series and maintain the consistency and continuity of the available data series from the January of 2006 onward. From 2013, a unique methodology has been applied in all three statistical institutions in BiH, which is fully compliant with the requirements of EU STS Regulation.

The data series for Other services, including H53 - Postal and courier activities, from 2010 to 2013 are obtained by the combination of data from administrative sources and other statistical surveys. In the recalculation of historical series overlapping method was used. In parallel with the regular quarterly survey on other services turnover, conducted from 2015, data for reference quarters of 2014 are collected.

Starting from Q1 2018, all STI series calculated on the base year 2010 (2010 = 100) are converted to new base year 2015 (2015 = 100) to ensure comparability over time.

15.3. Coherence - cross domain

STI surveys are fully harmonized with the requirements of EU-STS Regulation, Annex D. In addition, quarterly statistics of distributive trade and monthly retail trade turnover index (RTI) are mutually consistent and there is no significant deviation in the trend of the turnover indices. Approximately, it is possible to compare data from STI surveys with the annual data of the Structural Business Statistics and the National Accounts, and in most cases, the data are consistent

15.4. Coherence - internal

STI are fully coherent on different aggregation level by activity (group, division and total) for the observed data set. STI for BiH is also adjusted (seasonally adjusted) using TRAMO/SEATS method, which is based on the ARIMA model. Adjustments are made for total, division and group level. Seasonally and calendar adjusted data are compared with the original data and they show mutual coherence 


16. Cost and Burden Top

Data on quarterly STI surveys are collected by using paper questionnaires, which requires a significant funding and human resources. Data are collected by three statistical institutions: Federal Institute of Statistics of FBIH for the territory of Federation of BIH, Republika Srpska Institute of Statistics for the territory of Republika Srpska and the Agency for Statistics of BiH for the Brčko District of BiH. Approximately, 8 people are involved in data collection process and data compilation process on quarterly basis. In addition, one IT expert per institution is responsible for development and maintenance of IT application (30% of his working time). All three statistical institutions have very high costs of printing the questionnaires, postal and telephone costs. Response burden is not very high, approximately 10 minutes for fulfilling the questionnaires per respondent


17. Data revision Top
17.1. Data revision - policy

There is no clearly defined data revision policy, except in the case of an error when the published revised data are marked as "corrected data ". Then the explanation is given to all users about the reason for the data correction/revision. The corrected press release is published on the Agency's website. After the publication of the corrected data on the Agency's website, data are also sent to Eurostat.

17.2. Data revision - practice

The regular quarterly STI press releases contain preliminary data that refer to the reference quarter. The first regular revision of data implies when publishing data for the next quarter, data published for the previous quarter (t-1) are revised in accordance with the information submitted by the reporting units. The second regular revision of published data is the annual revision, which includes all changes in the data submitted after the first revision, in order to ensure the accuracy of the published data. Seasonally adjusted indices are regularly quarterly revised due to seasonal effect with no significant influence on level of revision.

Mean Revision (MR) and Mean Absolute Revision (MAR) and are used as revision indicators. They are calculated on year-on-year growth rates for original data. The calculated values for the last 20 quarters for STI surveys are:

Other services, MR=-0.01 and MAR=0.58;

Distributive Trade, MR=-0.16 and MAR=0.34;

Transportation and Storage, MR= 0.06 and MAR=0.36.

If new statistical standards and concepts are introduced, changes occur in the existing methodology and it is necessary to revise the data to ensure consistency and comparability of data from earlier historical series and new series of data. About these changes of data and reasons for changes, users are informed in regular quarterly releases and other publications as well as on the BHAS website.


18. Statistical processing Top
18.1. Source data

The quarterly STI surveys are the main source of data for the calculation of Other services, Transportation and storage and Distributive trade turnover indices (STI), which are conducted in the traditional way by using paper questionnaires (postal survey). The source of data for filling in the questionnaires on Other services, Transportation and storage and Distributive trade turnover is the bookkeeping or other relevant documentation of the enterprise. The main observed variable is realised turnover, in accordance with EU- STS regulations VAT is calculated and shown separately. Data are collected at the level of the business entity.

 

18.2. Frequency of data collection

Frequency of data collection is quarterly, with the deadline for data delivery 15 day (t+15) for the referent quarter (t).

18.3. Data collection

The STI surveys are conducted by e-mail and paper questionnaires, which means that the business entities submit the filled questionnaire (within a certain deadline) to cantonal statistical office of FIS, regional statistical office of the RSIS, or to the branch office of BD BiH. At the beginning of the year, sets of questionnaires (4) are sent to all reporting units in order to collect quarterly data.

18.4. Data validation

Data entry and validation are done by the authorized entity statistical offices for the territories of the entities, and for the Brčko District of BiH it is performed by the Branch office of the Agency for Statistics of BiH. Logical controls (large increase or decrease of turnover) and detecting of outliers are performed in the process of submitting and entering data into the STS IT application. Entity institutes submit to the BHAS, in the prescribed format, all data necessary for the compilation for the level of BiH. Data cross-checking controls are applied, and in case of observed “suspicious” data, the data are checked and, if necessary, the authorized institutions perform additional control of data by contacting reporting units by phone or visiting reporting units. This is a standard procedure for a long period of time, enabling to obtain data of good quality and verified data.  Data validation is done automatically by applying predefined data controls through STS IT applications. The validation process includes: cross-checking (cross-cuting), comparison with previous data, etc.  Afterwards, indices are produced and results are cross-checked with historical data.   All verifications are performed through the STS IT application and manually (in Excel). For the data transmission to Eurostat, a special SDMX-ML format has been created that satisfies the structure of the data transmission format. No validation controls and checking are applied to this file, because the national validation rules have already been applied.

18.5. Data compilation

The starting point is individual turnover data per enterprise weighted by weights calculated by sample strata. The initial weight for units of the same stratum equals the number of units in the stratum and the number of units in the sample. Initial weights are corrected for non-response. In order to obtain the value of the estimated totals of enterprises by strata for the final correction a ratio estimator is used (the ratio between the administrative financial data and the estimated financial data). Aggregation of turnover to higher levels (division, section) is done before index compilation. The index compilation process for BiH level consists of the following phases:

1. turnover totals are calculated at the level of activity strata of KD BiH 2010 for the Federation of BiH, Republika Srpska and Brčko District BiH;

2. by data aggregation for all three territorial units, turnover data for each strata for BiH level are obtained;

3. turnover totals at the strata level are summed up and thus aggregated at higher levels of activity (class, group, division, section);

4. Turnover indices are obtained as the ratio of turnover for the current period (for different levels of activity) and turnover realised in the base year (2015) or previous period.

The STI is compiled at the lower levels of KD BiH 2010 classification. The results are also shown in the form of growth rates (quarterly and annual) representing the change rates in the level of turnover in the current period as compared to the previous period. STI is expressed in nominal values (indices and growth rates expressed in current prices, unadjusted for price effect).

18.6. Adjustment

Seasonal adjustment of gross turnover has been done by using an automated model through software JDemetra+, version 2.2.1 and TRAMO/SEATS methods (regression method), which is based on the ARIMA models, and STI are published as gross, seasonally and calendar adjusted in accordance with the ESS (European Statistical System) guidelines. Calendar adjusted data compared to the same quarter of the previous year (t-4) are presented and interpreted in a calendar-adjusted form of an indices or growth rates, while seasonally adjusted data compared with the previous quarter (t-1) are presented and interpreted in seasonally adjusted form.


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Related metadata Top


Annexes Top
Seasonal Adjustment_STI_BA