Quarterly national accounts; values 1988-Q1 2014

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Description topics

Expenditure approach to GDP

This part of the table introduces the expenditure approach of Gross
Domestic Product (GDP).
The connection between GDP and expenditure components comes in to focus in
this part. The menu 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
last part: Additional details.

Disposable for final expenditure

The total amount of domestic generated goods and services (GDP) and the
imported goods and services are adding up to the disposable for final
expenditure. This variable is by definition equal to the total final
expenditure, which is the sum of the National final expenditure and the
exports of goods and services.

Gross domestic product

GDP is the total amount of domestic generated goods and services
(expenditure approach). It is also the sum of value added in all branches
of economic activities (production approach) and the total generated
income in the Netherlands (income approach).
The volume changes of gross domestic products is the measure for
economic growth.

Imports of goods and services

On the macro level imports of goods is valued free on board (fob)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 foreign
freighters, from imports of goods to imports of services.
It leaves total imports and total exports unchanged.
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, semimanufactured 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.

Total

On the macro level imports of goods is valued free on board (fob)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 foreign
freighters, from imports of goods to imports of services.
It leaves total imports and total exports unchanged.
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, semimanufactured 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.

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).

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.

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 consumption expenditure may take place on
the domestic territory or abroad.
Final consumption expenditure exists only for households, NPI
households and general government.

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 consumption expenditure may take place on
the domestic territory or abroad.
Final consumption expenditure exists only for households, NPI
households and general government.

Gross fixed capital formation

Fixed assets are produced tangible or intangible assets that are used in
the production process for more than one year.
Gross fixed capital formation consists of producers' acquisitions less
disposals of fixed assets:
- acquisitions, less disposals, of tangible fixed assets:
- acquisitions, less disposals, of intangible fixed assets:
- major improvements to land (reclamation, land consolidation and land
preparing for building).
Fixed capital formation also includes:
- work in progress of construction such as unfinished dwellings,
non-residential buildings and civil engineering works are recorded as
fixed capital formation of the client.
- military structures and equipment, similar to those used by civilian
producers, such as airfields and hospitals.
- improvements to existing fixed assets that go well beyond the
requirements of ordinary maintenance and repairs.
- transfer costs of fixed assets, such as conveyance fees and costs made
by real estate agents, architects and notaries.
On the level of the total economy and the sectors, an adjustment is made
for the transactions in used fixed assets, which are seen as investments
of the buyer and disinvestment of the seller. This adjustment is not made
for the industries.

Total

Fixed assets are produced tangible or intangible assets that are used in
the production process for more than one year.
Gross fixed capital formation consists of producers' acquisitions less
disposals of fixed assets:
- acquisitions, less disposals, of tangible fixed assets:
- acquisitions, less disposals, of intangible fixed assets:
- major improvements to land (reclamation, land consolidation and land
preparing for building).
Fixed capital formation also includes:
- work in progress of construction such as unfinished dwellings,
non-residential buildings and civil engineering works are recorded as
fixed capital formation of the client.
- military structures and equipment, similar to those used by civilian
producers, such as airfields and hospitals.
- improvements to existing fixed assets that go well beyond the
requirements of ordinary maintenance and repairs.
- transfer costs of fixed assets, such as conveyance fees and costs made
by real estate agents, architects and notaries.
On the level of the total economy and the sectors, an adjustment is made
for the transactions in used fixed assets, which are seen as investments
of the buyer and disinvestment of the seller. This adjustment is not made
for the industries.

Changes in inventories

Changes in inventories including acquisitions less disposals of valuables
Inventories consist of all raw materials, semi-manufactured goods, work in
progress and final products, that producers havein stock at a certain
moment.
Changes in work in progress are in general considered to be changes in
inventories. However, work in progress in construction is seen as fixed
capital formation of the client and not as changes in inventories of the
construction industry. This concerns unfinished buildings and civil
engineering works.
Increases in inventories occur when goods are produced (or purchased) but
not yet sold (or used) in the year under review.
Decreases in inventories occur when goods are withdrawn from existing
inventories in order to be sold or used in the production process.
The assessment of the changes in inventories is done in such way that
gains or losses on inventories caused by price changes are avoided. With
this objective the initial and final stock of each good is valued at the
same price, namely raw materials at the average purchase price in the
period, final products at average sales price and work in progress at the
average cost price.
This valuation method prevents output and subsequently value added from
being influenced by changes in prices of stocks during the period under
review.
Acquisitions less disposals of valuables This transaction consists of the
acquisitions less disposals of precious stones, non-monetary gold,
antiques, art objects and jewellery, that are acquired and held primarily
as stores of value.
In the national accounts this transaction is mostly combined with
changes in inventories.

Exports of goods and services

Exports of goods are goods, which have been exported by residents from the
Dutch economic territory to the rest of the world.
The exports of services include the services of Dutch transport
enterprises abroad, harbour services, ships repair services and
engineering of works by Dutch contractors abroad.
Also included in the exports of services are expenditures by foreign
tourists, inhabitants of the border area and diplomats in the Netherlands.

Total

Exports of goods are goods, which have been exported by residents from the
Dutch economic territory to the rest of the world.
The exports of services include the services of Dutch transport
enterprises abroad, harbour services, ships repair services and
engineering of works by Dutch contractors abroad.
Also included in the exports of services are expenditures by foreign
tourists, inhabitants of the border area and diplomats in the Netherlands.