Quarterly national accounts; changes

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Description topics

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.

Primary income abroad

Primary income received from the rest of the world less primary income
paid to the rest of the world.
Part of GDP flows to the rest of the world (wages and salaries to
non-resident employees, interests and dividends to non-resident
financiers), while income generated in the rest of the world is
transferred to the Netherlands.

Net primary income abroad, total

Primary income received from the rest of the world less primary income
paid to the rest of the world.

Primary income abroad, received

Primary income received from the rest of the world.
Wages and salaries received by resident employees from abroad and
interests and dividends received by resident financiers from abroad.

Primary income abroad, paid

Primary income paid to the rest of the world.
Part of GDP flows to the rest of the world: wages and salaries to
non-resident employees, interests and dividends to non-resident
financiers.

Current transfers abroad

Net current transfers from the rest of the world
Current transfers received from the rest of the world less current
transfers paid to the rest of the world.
Net current transfers from the rest of the world such as dividend tax,
social security benefits and other current transfers.

Net current transfers abroad, total

Net current transfers from the rest of the world
Current transfers received from the rest of the world less current
transfers paid to the rest of the world.
Net current transfers from the rest of the world such as dividend tax,
social security benefits and other current transfers.

Current transfers abroad, received

Current transfers received from the rest of the world

Current transfers abroad, paid

Current transfers paid to the rest of the world.

Surplus on current transactions approach

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.

Net primary income abroad

Primary income received from the rest of the world less primary income
paid to the rest of the world.
Part of GDP flows to the rest of the world (wages and salaries to
non-resident employees, interests and dividends to non-resident
financiers), while income generated in the rest of the world is
transferred to the Netherlands.

Net current transfers abroad

Net current transfers from the rest of the world
Current transfers received from the rest of the world less current
transfers paid to the rest of the world.
Net current transfers from the rest of the world such as dividend tax,
social security benefits and other current transfers.

Capital transfers abroad

Net capital transfers from the rest of the world.

Net capital transfers abroad, total

Net capital transfers from the rest of the world.

Capital transfers abroad, received

Capital transfers received from the rest of the world.

Capital transfers abroad, paid

Capital transfers paid to the rest of the world.

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 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 residents abroad

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

Imports by groups of products

Details of exports of goods and services by groups of products
Imports of goods are goods intended for residents, which are
imported from abroad into the Dutch economic territory.
Included in imports of goods are raw materials, semi-
manufactured products, fuels and final products. Also included
are imported goods, which are re-exported without undergoing
any processing.
Imports of services include among other things the expenditures
abroad by Dutch tourists, inhabitants of the border area and
diplomats.
On the macro level imports of goods is valued free on board at
the border of the exporting country. The transition from valuation
of imported goods at cif to fob consists of:
- a cif/fob adjustment of the transport costs abroad of Dutch
freighters. Total imports (goods) and exports (services) are
reduced by the same amount.
- a cif/fob reclassification of the transport costs abroad of for-
eign freighters, from imports of goods to imports of services.
It leaves total imports and total exports unchanged.
Data of total imports of goods and services are available from 1995 q1.
Other components of imports are available from 1995 q1.

Consumption by residents abroad

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