"The importance of statistics in the European context is confirmed by the fact that the European Statistics Day is celebrated every year. This year its motto was: "Statistics to understand and connect to society, in the search for truth".
This emphasises the importance of statistics in creating an inclusive society, promoting well-being and fighting misinformation."
Latvijas Banka collects and compiles a wide range of statistical information in pursuit of its tasks, including those of the ESCB. Latvijas Banka uses statistical information for performing financial and macroeconomic analyses, assessing financial stability, as well as for raising public awareness of developments in the financial sector and the national economy. The ECB uses statistical information produced by Latvijas Banka to compile the Eurosystem’s monetary statistics and the relevant euro area statistical data, as well as to discharge its other tasks.
Latvijas Banka’s statistical programmes
To provide transparent information on the planned activity in the field of statistics, Latvijas Banka publishes Latvijas Banka’s annual statistical programme and medium-term statistical work programme for the period of three years for the period of three years. The 2022 Statistical Programme of Latvijas Banka was implemented, except for two ESCB-level tasks (fact-finding and costs surveys on changes in the statistical requirements for insurance companies, as well as the creation of the ESCB Integrated Reporting Framework), the execution of which was postponed to 2023.
Development of statistical regulatory framework
In view of the entry into force of the new Law on Latvijas Banka on 1 January 2023, Latvijas Banka developed and adopted three new legal acts, which refer to the availability of statistical data for the purposes of research (Regulation No 206 of Latvijas Banka), the application of sanctions for infringements in the field of statistics (Recommendations No 375/6 of Latvijas Banka’s Council) and
statistical data provided by commercial companies performing securitisation activities (Regulation No 233 of Latvijas Banka of Latvijas Banka), as well as reviewed and reissued regulations of Latvijas Banka in the field of statistics.
Improvement of data sources used in providing statistics
In the field of external statistics, the use of a new data source – statistical data on card payments – was launched in 2022 to obtain a more accurate assessment of travel services, as well as e-commerce of goods and services. The introduction of the new data source made it possible to revise the data of external statistics, starting with the data for January 2020.
Communication with statistical data providers
In 2022, the official electronic address or e-address started to be used in communication with reporting agents, to provide information about the approaching deadline for submitting statistical data and the registered users in the Non-bank Statistics System.
Publication of statistical information
Latvijas Banka continued to provide a wide range of data users with statistical information, both by a regular transmission of statistical data to direct data users and by publishing statistical data in Latvijas Banka’s regular publications and on the website, including the internet statistical database INTS. The statistical data produced by Latvijas Banka are also published in the ECB publications and the Statistical Data Warehouse, as well as in IMF publications and within the framework of the IMF Special Data Dissemination Standard (SDDS Plus). Latvijas Banka continued to perform the tasks of the coordinating institution in Latvia within the framework of SDDS Plus.
In 2022, the range of statistical information published in the internet statistical database of Latvijas Banka, INTS, was expanded with weekly and monthly data on sent card-based payments transactions, as well as payment statistics. Data from the 2020 Household Finance and Consumption Survey on household real and financial assets, liabilities, income and consumption have been published in the “Statistics/Data” section of Latvijas Banka’s website.
Latvijas Banka started publishing the lists of financial institutions, which are maintained for the purpose of producing statistics, in a new format. It allows to sort and search the information included on the lists, as well as to print and export the lists in CSV format and, starting from 2022, enables the accumulation of lists and the availability of historical lists. The lists can also be retrieved in XML and JSON format. Two new lists were added to the lists of financial institutions already published on the website of Latvijas Banka – the list of financial vehicle corporations and the list of payment statistics related institutions.
