External statistics in a fragmented and uncertain world: Addressing novel analytical challenges

External statistics are paramount to address developments in international economic relations and need to quickly adapt to address new measurement challenges, user needs and policy priorities. Central banks, together with national statistical offices, international organisations and academia, have been actively responding to these demands. In their dual role of users and producers of external statistics, they have been grasping their various dimensions to meet novel analytical needs, while also regularly revisiting statistical concepts, measures and sources. This paper aims at offering a comprehensive overview of the main issues in external statistics, particularly shedding light on the most relevant aspects to central banks. It also suggests a roadmap for users and compilers of external statistics reflecting emerging trends, with international cooperation at its centre.