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ESA2010 / BPM6 Programme

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The Office for National Statistics (ONS) is currently undertaking a major project to implement changes generated by revised international guidance manuals within the UK National Accounts; specifically the European System of Accounts (ESA2010) and Balance of Payments and International Investment Position Manual (BPM6). Changes generated by revisions cover; measurement of concepts, methods and compilation. This will bring them in line with the System of National Accounts 2008 (SNA2008). Changes need to be fully implemented by September 2014, subject to a range of agreed derogations by Eurostat.

Achieving compliance with the revised international standard for the UK National Accounts and Balance of Payments statistics is a priority for the ONS over the coming years. ESA2010/BPM6 Programme has been set-up to deliver these new methods and systems.

What is ESA2010?
  • Updated version of the existing systems reflecting changes in national economies
  • Consistent with the worldwide System of National Accounts 2008 (SNA2008)
  • Consistent with the IMF Balance of Payments International Investment Position Manual (BPM6)
  • Obligatory for EU Member States’ returns to Eurostat from September 2014
  • GNI estimate used to calculate fourth resource to EU budget
What is BPM6?
  • Consistent with the worldwide System of National Accounts 2008 (SNA2008)
  • Greater focus on balance sheets and balance sheet vulnerabilities
  • Increased detail of foreign direct investment transactions required, consistent with the OECD Benchmark Definition of Foreign Direct Investment
  • Introduction of merchanting of goods and services
  • Equivalent to the rest of the world sector in the national accounts
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