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Revised standard industrial classification to be adopted in National Accounts

The revised standard industrial classification, TOL 2008, will be adopted in National Accounts. The information system of the accounts and the data contents of the statistics will be revised at the same time. Statistics Finland will release revised national accounts time series on 14 July 2011.

The timetable for the introduction of the TOL 2008 classification has been decreed in EU regulations. Other statistics of Statistics Finland have already adopted the revised classification earlier. General information about the TOL 2008 classification can be found in the classifications section of Statistics Finland's website.

Due to the renewal of the information system of national accounts, revisions will be made to the calculation systems and time series of the accounts. Errors detected in the time series will also corrected in the same context. The effects of the revisions on the euro-denominated time series will be minor. The data describing gross domestic product and the financial position of sectors will not essentially change.

After the adoption of the revised industrial classification, annual national accounts data will be published in databases at the accuracy 90 industries and quarterly accounts data at the accuracy of 11 industries. Data on value added will be published in quarterly accounts at the accuracy of 20 industries. The number of database tables will decrease due to the merging of tables on individual economic transactions. The data contents of the tables will also become revised in other respects.

Inquiries:
Annual National Accounts: Olli Savela, +358 9 1734 3316
Quarterly Accounts: Pasi Koikkalainen +358 9 1734 3332

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Last updated 21.6.2011