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.

Total

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.

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).

Total

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.

Total

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.

Consumption by households

Final consumption expenditure by households and by Non-Profit Institutions
Final consumption expenditure by households includes the following
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 private domestic
consumption expenditure. This includes final consumption in the
Netherlands by residents and non-residents. Final consumption by
households can be calculated by deducting from private domestic
consumption expenditure the final consumption by non-residents in the
Netherlands (registered as exports) 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). Because 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 expenditure by
general government is calculated from the production costs:
intermediate consumption
plus:
plus:
plus:
minus:
=
minus:
minus:
plus:
=

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.

Production approach to GDP

The composition of GDP from the value added of all economic activities is
provided in this part.
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.

Gross value added at basic prices

Gross value added at basic prices of all economic activities.
Value added at basic prices by industry is equal to the difference between
output (basic prices) and intermediate consumption (purchaser prices).
Economic activities are classified conform the standard industrial
classification 2008 (NACE Rev. 2)used by the National Accounts.

Producers of goods

Gross value added at basic prices of good producers.
The good producers contains the Agriculture, forestry and fishing, Mining
and quarrying, the manufacturing, the energy and water supply and the
construction.

B-E Industry (no construction), energy

This category is made up of the categories:
B Mining and quarrying
C Manufacturing
D Electricity, gas, steam and air conditioning supply
E Water supply; sewerage, waste management and remediation activities

Total

This category is made up of the categories:
B Mining and quarrying
C Manufacturing
D Electricity, gas, steam and air conditioning supply
E Water supply; sewerage, waste management and remediation activities

B Mining and quarrying

Mining and quarrying

D Electricity and gas supply

D Electricity, gas, steam and air conditioning supply

E Water supply and waste management

E Water supply; sewerage, waste management and remediation activities

National net lending or net borrowing

This part of the table 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

Surplus of the nation on income approach

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

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.

Additional details

The additional details of some variables in the previous parts of this
table are being given in this section.

Consumption expenditure

More specific details of the final consumption expenditure are provided
in part of the table.
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

Expenditure classification

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.

Total 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.

Consumption by households

Final consumption expenditure by households and by Non-Profit Institutions
Final consumption expenditure by households includes the following
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 private domestic
consumption expenditure. This includes final consumption in the
Netherlands by residents and non-residents. Final consumption by
households can be calculated by deducting from private domestic
consumption expenditure the final consumption by non-residents in the
Netherlands (registered as exports) 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 of goods

Consumption of goods by households and NPI households.

Other goods

Consumption of other goods by households and NPI households.

Energy and water

Consumption of energy and water by households and NPI
households.

Acquisition classification

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.

Total 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.

Gross fixed capital formation

Details of the gross fixed capital formation in two classification:
Gross fixed capital formation by type of capital good and gross fixed
capital formation by industry of destination.

By economic activity of destination

Fixed capital formation by economic activities of destination.
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 dwell-
ings, 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.

Fixed assets from production and imports

Total of acquisitions of new fixed assets.

B-F Industry and energy

This category is made up of the categories:
B Mining and quarrying
C Manufacturing
D Electricity, gas, steam and air conditioning supply
E Water supply; sewerage, waste management and remediation activities
F Construction