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\t\t\t\t\t\t15\/12\/2023<\/span> Space is becoming ever more important to life on Earth \u2013 from managing climate change to responding to emergencies to digitalising the economy. To help policymakers and businesses take informed decisions about investing in space, ESA has today published plans to create robust and reliable data on the space economy, in collaboration with international partners.<\/p>\n<\/div>\n The increasing importance of space means that demand for reliable and timely statistics on the space economy has grown. To meet this demand, ESA has worked with the Organisation for Economic Cooperation and Development, the European Commission\u2019s Eurostat and Joint Research Centre, and the US Department of Commerce and its Bureau of Economic Analysis.<\/p>\n ESA Director General Josef Aschbacher said, \u201cFor too long, the increasing contribution that space makes to economic growth has been obscured in the official statistics. Creating statistical codes to flag space-related elements will reveal the full extent of the space economy and enable economists and policymakers to identify exactly how space creates prosperity on Earth.\u201d<\/p>\n The space economy goes well beyond launchers, spacecraft and satellites \u2013 it includes space-derived products and services, such as the satellite communications and navigation on which many economies, people and devices rely.<\/p>\n Both direct contributions \u2013 such as mining the metal used to build a satellite \u2013 and indirect contributions \u2013 such as the value added by keeping people connected while in remote regions \u2013 are included, as well as people who work in the space industry spending their wages. The space economy can extend to unexpected places \u2013 space innovations pop up in medicine, health, environmental monitoring, farming, transport and manufacturing.<\/p>\n The tables of codes will enable economists to identify, for example, the value added by the creation of an electronic chip that uses Europe\u2019s Galileo satellite navigation system and is later inserted into a person\u2019s mobile phone or car, without considering the overall value of the mobile phone or the car in the space data.<\/p>\n The codes cover areas including: manufactured goods; information and communication services; professional, scientific and technical services; construction; public administrative and defence services; education; transport and storage; financial and insurance services; and arts, entertainment and recreational services.<\/p>\n The tables build on work started by the US Bureau of Economic Analysis, which published the first attempt to create a set of accounts for the American space economy in 2020, and on a two-year cooperation project between ESA, Eurostat and the Joint Research Centre.<\/p>\n The work consists of three strands: defining the space economy for statistical purposes that is internationally consistent; developing the methodology for the construction of the European space economy thematic account at the national and aggregated European levels; and combining the results obtained while fine-tuning and testing them, which is still ongoing and will be published in due course.<\/p>\n<\/p><\/div>\n
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