ESA Space Economy Team presents a paper on “Statistic and thematic satellite accounts for measuring the Space Economy” at the 73rd International Astronautical Congress (IAC) in Paris [Sep/2022]
On 20 September 2022, the ESA Space Economy team will present a paper on ‘Statistic and thematic satellite accounts for measuring the Space Economy”, co-written with the Organisation for Economic Co-operation and Development (OECD) and the US Bureau of Economic Analysis (BEA) at the occasion of the 73rd International Astronautical Congress (IAC) to be held in Paris on 18-22 September. The presentation will be given at the technical session E3.3 on “Economic analysis of both actual and potential future benefits from space activities and applications to nations and peoples”.
In the context of current economic, environmental and societal issues, space has an ever more important role to play. Yet, a robust set of consistent and reliable data is needed to both size and monitor the actual trends of the Space Economy.
Current estimates rely mostly on industry survey, leaving many data gaps, as well as a wide divergence within the available literature on how much is worth the Space Economy. While the figures provide interesting insights across the various segments of the space industry, they also highlight shortcomings in terms of how space contributes to the economy, especially through comparable indicators such as output, gross value-added (GVA) or employment.
Thematic satellite accounts are a complementary set of statistics within the central framework of national accounts. They allow to highlight specific sectors of the economy that may not be obvious to find in the core set by identifying and quantifying relevant products (goods and services) across industries and economic activities.
The presented paper aims at investigating the potential of satellite account approaches for measuring and monitoring the Space Economy. It presents current limitations in the available measures of the Space Economy, results and lessons learnt from the US Bureau of Economic Analysis experience on their SESA (Space Economy satellite account) as well as insights from the OECD and the new cooperation project at European level between the European Space Agency, Eurostat and the Joint Research Centre (JRC).
More information about the IAC “Economic analysis of both actual and potential future benefits from space activities and applications to nations and peoples” E3.3 session as well as access to all abstracts can be found here.
The full programme of the IAC can be found here.