The trend towards the increased globalisation of financial markets over the last 20 years has raised the importance of financial statistics as key short-term indicators. Financial indicators are subject to high volatility over short periods of time and these movements impact on the non-financial sector of world economies, particularly movements in the financial markets of the US, Japan and Europe.

World financial markets have undergone rapid change in their regulatory frameworks and a tendency towards greater liberalisation. Increased globalisation of financial markets has also been greatly assisted by the application of advanced communication technologies. As a result, there has been unparalleled growth and diversification of money and capital markets in recent decades.

Financial statistics are widely used by government agencies responsible for the formulation of fiscal and monetary policy. They are also used extensively by the financial sector itself and by the non-financial private sector both as indicators of the "health" of economies and to assist decision-making and investment planning.

The divergent characteristics of national markets make the compilation and presentation of meaningful, analytically useful financial indicators at the international level a complex task. The IMF, in particular, has contributed significantly to greater transparency in both the operation of financial markets and the development of international statistical standards in this area.