This article serves as an introduction to the series of articles included in the SJIAOS special issue about the comprehensive updates made to the System of National Accounts 2025 (2025 SNA) and the Integrated Balance of Payments and International Investment Position Manual, Seventh Edition (BPM7). The article provides an overview of the increasing complexity of economic activity, incorporating new forms of value creation such as digital platforms, cryptocurrencies, and intangible assets. It notes that updated standards enhance consistency and integration between national accounts and external sector statistics, facilitating more accurate measurement and analysis for policymakers. The article outlines the key themes included in the special issue such as the explicit recognition of data as a produced asset, expanded indicators for digitalization, and improved classification of financial instruments and institutional sectors. The article underscores the collaborative nature of these updates, achieved through international cooperation and extensive consultation, ensuring global relevance and acceptance. It concludes by advocating for ongoing revision and harmonization of statistical manuals to maintain relevance and support effective policy decisions.
Kroese et al. (Fri,) studied this question.