Quarterly national accounts; changes

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Description topics

Expenditure approach to GDP

The first chapter of this publication introduces the expenditure approach
of Gross Domestic Product (GDP).
The connection between GDP and expenditure components comes in to focus in
this chapter. The menu of this chapter shows the supply and disposition of
goods and services scheme which contains the expenditure components of
GDP.
More details data on the expenditure components could be found in de
fourth chapter: Additional details.
Data available from 1995 q1.

Total final expenditure

The sum of the National final expenditure and the exports of goods and
services. This variable is by definition equal to the disposable final
expenditure (GDP and imports).

Gross national final expenditure

Gross national final expenditure is the sum of the final consumption
expenditure, the gross fixed capital formation and the changes in
inventories.

Final consumption expenditure

Final consumption expenditure consists of expenditure incurred
by resident institutional units on goods and services that are
used for the direct satisfaction of individual needs or wants or
the collective needs of members of the community. Final con-
sumption expenditure may take place on the domestic territory
or abroad.
Final consumption expenditure exists only for households, NPI
households and general government.

Final consumption expenditure, total

Final consumption expenditure consists of expenditure incurred
by resident institutional units on goods and services that are
used for the direct satisfaction of individual needs or wants or
the collective needs of members of the community. Final con-
sumption expenditure may take place on the domestic territory
or abroad.
Final consumption expenditure exists only for households, NPI
households and general government.

Consumption by households incl. NPISH

Final consumption expenditure by households and by Non-Profit Institutions
Final consumption expenditure by households includes the fol-
lowing borderline cases:
- income in kind like accommodation, food, clothing etc.
- services of dwellings, which are occupied by the owners
themselves and without any actual rent payments. These
services are valued by applying the rents of similar dwellings.
- goods and services produced for own use, as in agriculture.
The value of these products is calculated by applying the
market prices for similar products.
- durable consumption goods such as private cars, household
appliances, furniture and clothing. However, the purchases of
dwellings by households are not seen as final consumption,
but as fixed capital formation by households.
The detailed data on consumption of households concern pri-
vate domestic consumption expenditure. This includes final con-
sumption in the Netherlands by residents and non-residents. Fi-
nal consumption by households can be calculated by deducting
from private domestic consumption expenditure the final con-
sumption by non-residents in the Netherlands (registered as ex-
ports) and adding final consumption by households in the rest of
the world (registered as imports).
Final consumption expenditure by NPI households
Final consumption expenditure by NPI households consists of all
the non-market output of this sector excluding the own account
capital formation.

Consumption by general government

Final consumption expenditure by general government results
from the specific recording of government output. Only a small
part of government output is actually sold (market output). The
larger part of government output is paid out of public funds and
provided free of charge to all sectors (non-market output). Be-
cause the allocation of government output to different users will
encounter large problems, the government is by convention
considered to be the consumer of its own output. Because of the
absence of market prices output and final consumption expen-
diture by general government is calculated from the production
costs:
plus:
plus:
plus:
minus:
ment)
=
minus:
minus:
plus:
=

Production approach to GDP

The composition of GDP from the value added of all economic activities is
provided in this chapter.
Gross domestic product at market prices (GDP) is calculated as follows:
total value added at basic prices of industries
plus: balance of taxes and subsidies on products
plus:
VAT, taxes on imports, subsidies on re-exports cannot be attributed to
individual industries. Therefore, GDP at market prices cannot be broken
down completely by industry.
Data of total value added available from 1995 q1.
Other components from 1995 q1.

Consumption of imputed bank services

The imputed bank services produced by banks are not distrib-
uted over use categories. On the level of the total economy the
use of these services is deducted from GDP (and the operating
surplus / mixed income).

Income approach to GDP

The income approach of gross domestic product is provided in this chapter
of the publication.
Scheme:
Compensation of employees (+)
Operating surplus (net) (+)
Tax on productions and imports (+)
Subsidies (-)
= Gross domestic product (net)
Consumption of fixed capital (+)
= Gross domestic product (gross)
Data available from 1995 q1.

Consumption of fixed capital

Consumption of fixed capital represents the depreciation of the
stock of produced fixed assets, as a result of normal technical
and economical ageing and insurable accidental damage.
Losses due to catastrophes and unforeseen ageing are seen as
a capital loss.
Consumption of fixed capital is calculated on the basis of the
perpetual inventory method (PIM). This method starts with cal-
culating the replacement value of the stock of produced fixed
assets at the beginning of a year. This is done by correcting the
value of this stock for price changes that occur in that year for
comparable fixed assets. Subsequently, fixed capital formation is
added and the value of discarded fixed assets is deducted from
the stock. This leads to an estimation of the value of the stock of
produced fixed assets at the end of the year. For each type of
asset, consumption of fixed capital is calculated by dividing its
average annual value by its expected life span.
This method may differ considerably from the method used to
calculate depreciation in business accounts, which is based on
historical costs or fiscal life span.

National net lending or net borrowing

This chapter of the publication shows two approaches to the national net
lending or net borrowing.
The national net lending or borrowing shows the amount a country can
lend or has to borrow, given the current and capital transactions in the
national accounts. There are two approaches to this variable:
I. The approach through the surplus of national income
Scheme:
Gross domestic product (market prices)
Primary incomes received from the rest of the world (+)
Primary incomes paid to the rest of the world (-)
= Gross national income (market prices)
Current transfers received from the rest of the world (+)
Current transfers paid to the rest of the world (-)
= Gross disposable national income
Final consumption expenditure (-)
Adjustment for net equity in pension funds reserves (+)
=Gross national saving
Fixed capital formation incl. change in inventories (-)
=Surplus of the Nation on income
=Surplus of the Nation on current transactions with the rest of the world
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing
II. The approach through the surplus of the nation on current transactions
with the rest of the world.
Scheme:
Net exports, the difference between exports and imports of
goods and services (+)
Net primary income from the rest of the world (+)
Net current transfers from the rest of the world (+)
=Surplus of the Nation on current transactions with the rest of the world
=Surplus of the Nation on income
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing
Data of domestic products, consumption and gross fixed capital formation
are available from 1995 q1. Other components from 1995 q1.

Surplus of the nation on income approach

I. The approach of net lending or net borrowing through the surplus of
national income
Scheme:
Gross domestic product (market prices)
Primary incomes received from the rest of the world (+)
Primary incomes paid to the rest of the world (-)
= Gross national income (market prices)
Current transfers received from the rest of the world (+)
Current transfers paid to the rest of the world (-)
= Gross disposable national income
Final consumption expenditure (-)
Adjustment for net equity in pension funds reserves (+)
=Gross national saving
Fixed capital formation incl. change in inventories (-)
=Surplus of the Nation on income
=Surplus of the Nation on current transactions with the rest of the world
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing.

Final consumption expenditure

Total final consumption expenditure.

Additional details

The additional details of some variables in the previous chapters of this
publication are being given in this chapter.

Consumption expenditure

More specific details of the final consumption expenditure are provided
in part of the publication.
There are two classification for the consumption expenditure concept: the
expenditure classification and the acquisition classification.
The expenditure classification refers to expenditure on consumption goods.
In contrast the acquisition classification refers to the acquisition of
consumption goods and services. The difference between these concepts lies
in the treatment of certain goods and services financed by the government
or NPI households but supplied to households as social transfers in kind.
By convention, all final consumption expenditure by NPI households and
most of the final consumption expenditure by the government in the field
of education, health, social security and welfare, sport and recreation
and culture are treated as individual consumption.
I. The expenditure classification of final consumption:
This classification focuses on the expenses for consumption goods and
services. The total final consumptions is divided to sectors which
actually financed the consumption expenditures.
Classification scheme:
Total final consumption expenditure=
Consumption expenditure by households and by NPI households=
Consumption expenditure by households plus
Consumption expenditure by NPI households
Consumption expenditure by general government=
Collective consumption by general government plus
Individual consumption by general government
II. The acquisition classification of final consumption:
This classification focuses on the acquisition of consumption goods and
services. The total final consumption is divided to groups which have
acquired the consumption goods and services: individuals or the
collective.
Classification scheme:
Total final consumption expenditure=
Actual individual consumption=
Consumption expenditure by households
Consumption expenditure by NPI households
Individual consumption by general government
Actual collective consumption
Data available from 1995 q1. Components of consumption expenditure by
households and NPI households are available from 1995 q1.

Expenditure classification

I. The expenditure classification of final consumption:
This classification focuses on the expenses for consumption goods and
services. The total final consumptions is divided to sectors which
actually financed the consumption expenditures.
Classification scheme:
Total final consumption expenditure=
Consumption expenditure by households and by NPI households=
Consumption expenditure by households plus
Consumption expenditure by NPI households
Consumption expenditure by general government=
Collective consumption by general government plus
Individual consumption by general government.

Consumption expenditure, total

Final consumption expenditure consists of expenditure incurred
by resident institutional units on goods and services that are
used for the direct satisfaction of individual needs or wants or
the collective needs of members of the community. Final con-
sumption expenditure may take place on the domestic territory
or abroad.

Consumption by households incl. NPISH

Final consumption expenditure by households includes the fol-
lowing borderline cases:
- income in kind like accommodation, food, clothing etc.
- services of dwellings, which are occupied by the owners
themselves and without any actual rent payments. These
services are valued by applying the rents of similar dwellings.
- goods and services produced for own use, as in agriculture.
The value of these products is calculated by applying the
market prices for similar products.
- durable consumption goods such as private cars, household
appliances, furniture and clothing. However, the purchases of
dwellings by households are not seen as final consumption,
but as fixed capital formation by households.
The detailed data on consumption of households concern pri-
vate domestic consumption expenditure. This includes final con-
sumption in the Netherlands by residents and non-residents. Fi-
nal consumption by households can be calculated by deducting
from private domestic consumption expenditure the final con-
sumption by non-residents in the Netherlands (registered as ex-
ports) and adding final consumption by households in the rest of
the world (registered as imports).
Final consumption expenditure by NPI households
Final consumption expenditure by NPI households consists of all
the non-market output of this sector excluding the own account
capital formation.

Consumption by households incl. NPISH

Final consumption expenditure by households and NPI households.

Consumption of goods

Individual consumption of goods by households and NPI households.

Consumption of goods, total

Individual consumption of goods by households and NPI households.

Domestic consumption

Actual individual final consumption (domestic) by households and NPI
households.

Consumption by residents abroad

Final consumption by resident households in the rest of the world.

Consumption foreigner in the Netherlands

Final consumption by non-resident households in the Netherlands.