Regional accounts; production and generation of income by industry

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Description topics

Output (basic prices)

Output covers the value of all goods produced for sale, including unsold
goods, and all receipts for services rendered.
Output furthermore covers the market equivalent of goods and services
produced for own use, such as own account capital formation, services of
owner-occupied dwellings and agricultural products produced by farmers for
own consumption. The output of such goods is estimated by valuing the
quantities produced against the price that the producer would have
received if these goods had been sold.
Output is valued at basic prices, defined as the price received by the
producer excluding trade and transport margins and the balance of taxes
and subsidies on products.
This is the price the producer is ultimately left with.

Intermediate consumption

Intermediate consumption includes all goods and services used up in the
production process in the accounting period, regardless the date of
purchase. This includes for example fuel, raw materials, semi
manufactured goods, communication services, cleansing services and
audits by accountants. Intermediate consumption is valued at purchasers'
prices, excluding deductible VAT.
For companies which do not need to charge VAT on their sales, the VAT
paid by their purchases is non-deductible.
It is therefore recorded as a component of intermediate consumption.

Gross value added

Value added at basic prices by industry is equal to the difference
between output (basic prices) and intermediate consumption (purchasers'
prices).

Compensation of employees

Compensation of employees is the total renumeration paid by employers to
their employees in return for work done.
Employees are all residents and non-residents working in a paid job.
Managing directors of limited companies are considered to be employees;
therefore their salaries are also included in the compensation of
employees. The same holds for people working in sheltered workshops.
Compensation of employees is distinguished between wages and salaries
and employers' social contributions.

Taxes, not product-related

Taxes on production paid by producers, not related to the value or volume
of the products produced or transacted. Examples are real estate tax
and sewerage charges paid by producers.

Subsidies, not product-related

Subsidies on production paid to producers, not related to the value or
volume of products domestically produced or transacted. These are
mainly wage subsidies.

Gross operating surplus

The gross operating surplus by industry is the balance that remains
after deducting from the value added (basic prices) the compensation
of employees and the balance of not product-related taxes and
not product-related subsidies on production.
The operating surplus of family enterprises is called mixed income,
because it also contains compensation for work by the owners and their
family members.
On the level of the total economy operating surplus is computed by
adding to the total of the industries the difference imputed and
paid VAT.

Labour input of employed persons

Labour input of employed persons is defined as the number of full-time
equivalent jobs. Part-time jobs are converted to full-time jobs.
For employees a full-time equivalent job is the annual contractual hours
considered full-time in that branch of industry.
For self-employed a full-time equivalent job is the quotient of the
usual weekly work hours of that job and the average weekly work hours
of self-employed with 37 or more normal weekly hours in the same branch
of industry.

Labour input of employees

Labour input of employees is defined as the number of full-time
equivalent jobs. Part-time jobs are converted to full-time jobs.
For employees a full-time equivalent job is the annual contractual hours
considered full-time in that branch of industry.