Unobserved economy statistics project unveiled

The General Statistics Office (GSO) is to launch a project on unobserved economy statistics which will serve as an important reference for the statistics sector to refine its expertise up to international practices. During a press conference in Hanoi on Wednesday, Director General of the GSO, Nguyen Bich Lam has affirmed that the project will cover unobserved economic activities including underground, illegal, and informal economies, household economic sector and underreported economic activities. Mr. Lam said: The project helps improve the quality of statistics to fully and correctly reflect the socio-economic situation in line with international practices and Vietnamese context. This will better serve sectors and localities' socio-economic development planning.

This year, the GSO will complete its study of and learn from international experience, determine the scale of the unobserved economy, and select appropriately measured solutions. From next year, it will officially begin collect data on the unobserved economy and integrate the data in the country's GDP as well as that of centrally-run cities and provinces.

Source: VOV5