Canada subscribed to the International Monetary Fund's Special Data Dissemination Standard (SDDS) in 1996 and met all SDDS requirements on February 19, 1999. Based on information provided on the IMF's SDDS website, Canada meets SDDS requirements for periodicity, coverage, and timeliness of data, although it does avail of the flexibility option with regards to timeliness for production index and central government operations. A 2007 report by the IMF however notes that in terms of the timeliness of data, in 2007, Canada experienced occasional short delays with certain data points. Similarly, the report notes that during 2007 Canada met the SDDS requirements for advance release calendars in most months except in November and December 2007. The SDDS website also discloses that Canada avails itself of the flexibility option with regard to advance dissemination of release calendar for the data categories central government operations and central government debt. Moreover, data is not released simultaneously to all interested parties as the press has access to data prior to other interested parties. Information on the IMF's SDDS website also shows that Canada does not meet all SDDS requirements for integrity and quality of data. The 2007 IMF report notes that in 2007 Canada did provide available information on the methodology, sources, and reconciliation of data categories that would facilitate users to assess the quality of the data.

General Overview

Canada subscribed to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) on April 20, 1996. According to the IMF's 2008 Article IV consultation with Canada, "the quality, coverage, periodicity, and timeliness of Canada's economic data are considered to be excellent both in the context of the Article IV consultation and for purposes of ongoing surveillance" (p. 6). The country uses a flexibility option for timeliness on production index and central government operations and another flexibility option for the advance dissemination of release calendar on central government operations and central government debt. Furthermore, a 2007 report by the IMF titled "Canada: Annual Observance Report of the Special Data Dissemination Standard for 2007" notes that, in 2007, Canada fulfilled the SDDS requirements on periodicity and coverage. With regards to the SDDS' timeliness option, however, the report notes that, in 2007, Canada experienced "occasional short delays" (p. 6) with certain data points. The report also states that during 2007, Canada met the SDDS requirements for advance release calendars (ARC) in most months except in November and December 2007. As regards to the quality of data, the report notes that "during 2007, Canada provided available information on the methodology, sources, and reconciliation of data categories in Data Quality Assessment Framework that would facilitate users to assess the quality of the data" (p. 7). The IMF summarizes its assessment of Canada's statistics in its 2003 Report on the Observance of Standards and Codes (ROSC) - Data Module, stating that "Canada's macroeconomic statistics are of high quality. They are comprehensive, timely, and accurate and thus are adequate to conduct effective surveillance of economic and financial policies" (p. 8).

According to the 2003 IMF report, the three main government bodies in charge of disseminating data are Statistics Canada (StatCan), the Bank of Canada (BoC), and the Department of Finance (DoF). StatCan covers national accounts, production index, labor market, price indices, general government operations, merchandise trade, balance of payments, international investment position, and population. The BoC provides data regarding analytical accounts of the banking sector, interest and exchange rates, and gross international reserves. The 2003 IMF notes from consultations with users of statistical information in Canada that they view BoC and StatCan as "transparent in their policies and practices, and [they] provide guidelines on ethical conduct for their staff" (p. 3). The DoF oversees data dealing with central government operations, central government debt, and the template on international reserves and foreign currency liquidity. However, in the 2003 report, the IMF recommends that the roles of the BoC and the StatCan regarding the collection and dissemination of figures on the financial sector should be made clearer. The Statistics Act of 1985 and the Bank Act of 1991 are the two laws governing the gathering and dissemination statistics in Canada.

The Principles

Comprehensive economic and financial data, disseminated on a timely basis.

CP

The IMF's SDDS website discloses that Canada meets or exceeds most SDDS requirements for coverage, periodicity, and timeliness. The country does avail of the flexibility option with regards to timeliness for central government operations and production index. The 2007 IMF report also indicates that Canada met requirements for coverage and periodicity of data in 2007, albeit in some cases using the flexibility option. However, on timeliness of data, in 2007, the report notes that Canada experienced "occasional short delays" (p. 6) with data on the producer prices, central government debt, and analytical accounts of the central bank.

Ready and equal access to official statistics.

CP

Information provided on the IMF's SDDS website indicates that Canada avails itself of the flexibility option with regards to advance dissemination of release calendar for the data categories, central government operations and central government debt. As reported in IMF's 2007 report, "during 2007, Canada met the SDDS requirements for ARC in most months except in November and December 2007, falling short of SDDS requirements" (p. 6). Further, according to information on the SDDS website, the second component under the access dimension is not fully fulfilled by Canada for several data categories including interest rates and exchange rates as the requirement for simultaneous release of data is not met. The data are released to the press prior to other interested parties for several of the data categories, such as, labor market employment, labor market unemployment, consumer price index, interest rates, share price index, and exchange rates. The 2003 IMF ROSC asserts that various participants and users of Canada's statistics expressed concern regarding fees charged to access some statistical information and requested that more data be available at no cost.

Official statistics must have the confidence of their users. Transparency of its practices and procedures is a key factor.

CP

In regards to the integrity dimension of the SDDS, the 2007 IMF report states that "during 2007, Canada met the SDDS requirements for certification in the third quarter. None of the data categories were certified in the first, second, and fourth quarters, falling short of SDDS requirements" (p. 7). Per the IMF's SDDS website there is clear dissemination of terms and conditions under which official statistics are produced. Confidentiality of individually identifiable information is provided for all data categories except for central government debt and central government operations. However, information on the IMF's SDDS website shows that Canada does not meet all SDDS requirements for integrity of data. The question of identification of ministerial commentary on the occasion of statistical releases is not addressed for a majority of the data entry points. In addition, various data categories lack information about advance notice of major changes in methodology.

A set of standards that deals with the coverage, periodicity and timeliness of data must also address the quality of statistics.

CP

Per the 2007 IMF report, "during 2007, Canada provided available information on the methodology, sources, and reconciliation of data categories in Data Quality Assessment Framework that would facilitate users to assess the quality of the data" (p. 7). Information provided on the IMF's SDDS website with regard to quality of data indicates that Canada fulfils the SDDS requirements for dissemination of documentation on methodology and sources used in preparing statistics. Summary methodologies are provided for all data categories on the IMF website. For exchange rates, however, the Canadian authorities do not provide detailed documentation of the methodology used. Queries can be directed to a designated contact person. Per the SDDS website, several data categories do not ensure sufficient statistical cross-checks or provide assurances of reasonableness.