Roles played by National account statistics?

1. Economic indicator: National account statistics provide valuable information on the overall economic performance of a country, including its GDP, national income, and expenditure. This data is used by policymakers, businesses, and investors to assess the health of the economy and make informed decisions.

2. Policy formulation: National account statistics are used by governments to formulate economic policies and strategies. By analyzing trends in GDP growth, inflation, and other economic indicators, policymakers can identify areas of strength and weakness in the economy and implement appropriate measures to promote growth and stability.

3. International comparisons: National account statistics allow for comparisons of economic performance between different countries. This information is used by policymakers and researchers to assess the relative competitiveness and efficiency of different economies, as well as to identify best practices and areas for improvement.

4. Budget planning: National account statistics play a crucial role in the budget planning process for governments. By providing information on revenue, expenditure, and debt levels, these statistics help policymakers to make informed decisions on fiscal policy, taxation, and public spending.

5. Business decision-making: National account statistics are used by businesses to assess market conditions, consumer demand, and overall economic trends. This information helps businesses to make strategic decisions on investment, production, and pricing, as well as to identify opportunities for growth and expansion.