Description of methods and sources for Albania - INSTAT

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IPA 2009 Multi-beneficiary StatisticalCooperation ProgrammeAnnex F: InventoriesBelow, is presented the method used to estimate this component by main type ofinventories, following the rules of estimation for year 2002:This preliminary estimate was performed by sing data available from the annualfinancial statements (balance sheets) of enterprises on the state of stocks. They areestimated as the difference between values at the end and at the beginning of theperiod at the average prices of the period. Estimates are prepared for four types ofinventories: Raw materials and supplies, Work-in-progress, Finished goods andGoods for Resale.Following ESA95 recommendations, the average pricing method has been applied inorder to transform opening and closing stocks of inventories at average prices duringone year.Annual Statement of accounts of enterprises (Balance Sheets) gives us informationon Inventories by type as follows:72Tab F.1:Information on InventoriesChanges in inventoriesBeginning of End ofPeriod PeriodMaterials and supplies X XWork in progress X XFinished goods X XGoods for resale X XThe following formula was followed in the valuation of the changes in inventories atcurrent average prices. The annual average prices for the year t were divided by theDecember indices of the year t-1 as (start stock) and December t as (end stock)indices.indindQ31.12. year(t)ind* End stock indQ31.12. year(t1)*Start stock Change in Inv.in current average prices.Main indices used for the average prices of types of Inventories are:- Raw Material : PPI and UVI for the respective activity;- Finished goods, stock to producers, PPI is used ;- Goods for Resale, stock to trade activity: mainly CPI.- Work in progress, stock to construction activity: Construction Cost IndexWe can calculate Changes in Inventories at current average prices by type, for onlythe enterprises on which we have information. In order to estimate Changes in202/236
IPA 2009 Multi-beneficiary StatisticalCooperation ProgrammeInventories for the total economy, to secure exhaustiveness, we have made someestimations, calculating the following ratios:1- Total Turnover (From NA calculations) / Balance sheet turnover2- Total Intermediate Consumption / Balance Sheet Intermediate ConsumptionBased on the ratios listed above, we calculated Inventories at Average Prices forTotal Economy, multiplying the estimated ratios with Balance sheets inventories inaverage prices. Ratio no 2 is used for the Raw Material Inventories and the other oneis used for other types of inventories.Estimates are carried out by branch of NA activities, but not by enterprise size. Themethod is based on adjustment coefficients between the balance sheet data andNational Accounts’ corresponding aggregates. For different types of inventories,different adjustment coefficients are applied: for the raw materials the coefficient isdeveloped from the intermediate consumption; for the work in progress and finishedgoods the coefficient is developed from the output. Opening stock and the closingstock have different coefficients as well. The opening stock is considered as a resultof the economic behavior of the previous year; therefore the adjustment coefficient ispicked up from the previous year. For the closing stock the data for the current yearis used. Below are presented data derived by an exercise developed for the year2002:73Tab E.2: Changes in Inventories, year 2002Data from Balance sheets (mln.LEK) In average prices (mln.LEK)Year 2002Raw Materials 2,460Work-in-progress 1,030Finished goods -81Goods for resale 4,294Total 7,704Year 2002Raw Materials 892Work-in-progress 1,030Finished goods -908Goods for resale 2,748Total 3,761We have to mention that these are experiments and no data is published due to lackof information.203/236
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Description of methods and sources for Albania - INSTAT

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