Statistics

Eesti Pank compiles and publishes Estonia's national balance of payments, and collects and disclosures financial sector statistics necessary for the performance of its functions (see § 2 and § 34 of the Eesti Pank Act). These statistics are used widely in domestic and international monetary policy analysis and in assessment of financial sector stability and risks. The statistics compiled by Eesti Pank is also part of the statistics of the EU and European Monetary Union, compiled by Eurostat and the European Central Bank.

Eesti Pank is the other primary agency beside Statistics Estonia that conducts official statistics in Estonia (see § 8 of the Official Statistics Act). The law sets out principles and quality criteria for official statistics. The production of official statistics must comply with six internationally recognised statistics principles: professional independence, impartiality, objectivity, reliability, statistical confidentiality, cost effectiveness. To ensure the high quality of data, the production of official statistics must comply with seven quality criteria: relevance, accuracy, timeliness, punctuality, accessibility and clarity, comparability, coherence.

Pursuant to the Official Statistics Act valid from August 2009, the official statistics programme is compiled, which consists of the lists of statistical surveys of Statistics Estonia and Eesti Pank, the agencies conducting official statistics in Estonia. The list of statistical surveys conducted by Eesti Pank is established for five years in Eesti Pank Governor's decree. The statistics programme establishes a legal basis for statistical surveys, including the right for Eesti Pank to collect statistical source data from natural and legal persons and register, and the obligation for respondents to submit data when required and to assume responsibility for these data.

Statistics on monetary financial institutions and other financial sector institutions are compiled on the basis of supervisional data, which is collected pursuant to the Credit Institutions Act and other supervision legislation. Therefore, these statistics conducted by Eesti Pank is not part of the official statistics programme.

The official statistics conducted by Eesti Pank is outlined in the list of statistical tasks, a part of the official statistics programme, established in Eesti Pank Governor's decree.