Quarterly national accounts; changes 1988 -q1 2014

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Description topics

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

C Manufacturing

Manufacturing

Total

Manufacturing

10-12 Manufacture of food and beverages

Manufacture of food and beverages

13-15 Man. of textile-, leatherproducts

Manufacturing of textile-, leatherproducts

16-18 Man. of wood, paper, printing...

This category is made up of the categories:
16 Manufacture of wood products
17 Manufacture of paper and paper products
18 Printing and reproduction

19 Manufacture of coke and petroleum

Manufacture of coke and refined petroleum products

20-21 Man. of chemicals, pharmaceuticals

This category is made up of the categories:
20 Manufacture of chemicals and chemical products
21 Manufacture of basic pharmaceutical products and pharmaceutical
preparations

22-23 Man. of rubber, plastics, minerals

This category is made up of the categories:
22 Manufacture of rubber and plastic products
23 Manufacture of other non-metallic mineral products

24-25 Man. of basic metals and -products

This category is made up of the categories:
24 Manufacture of basic metals
25 Manufacture of fabricated metal products, except machinery and
equipment

26-27 Man. of electric, electronic prod.

This category is made up of the categories:
26 Manufacture of computers, electronic and optical products
27 Manufacture of electrical equipment

28 Man. of other machinery and equipment

28 Manufacture of machinery and equipment n.e.c.

29-30 Man. of transport equipment

This category is made up of the categories:
29 Manufacture of motor vehicles, trailers and semi-trailers
30 Manufacture of other transport equipment

31-33 Man. of other products and repair

This category is made up of the categories:
31 Manufacture of furniture
32 Manufacture of other products n.e.c.
33 Repair and installation of machinery and equipment

Producers of commercial services

Gross value added at basic prices of producers of commercial services.
The commercial services producers contains the trade, repair, hotels and
restaurants, the transport, storage, post and telecommunication and the
financial and business activities.
This category is made up of the categories:
G Wholesale and retail trade; repair of motor vehicles and motorcycles
H Transportation and storage
I Accommodation and food service activities
J Information and communication
K Financial institutions
L Renting, buying and selling of real estate
M Consultancy, research and other specialised business services
N Renting and leasing of tangible goods and other business support
services

M-N Business services

This category is made up of the categories:
M Consultancy, research and other specialised business services
N Renting and leasing of tangible goods and other business support
services

N Renting and other business support

N Renting and leasing of tangible goods and other business support
services

78 Employment activities

78 Employment placement, provision of temporary employment and payrolling

Producers of non-commercial services

Gross value added at basic prices of producers of non-commercial services.
The non-commercial services producers contains the economic activities
of the general government and the care and other service activities.
The activities of the general government are the public administration and
social security, the defence activities and the subsidized education.
The care and other services activities contains the health and social work
activities, the sewage and refuse disposal services, the recreational,
cultural and sporting activities, the private households with employed
persons and other service activities i.e.
This category is made up of the categories:
O Public administration, public services and compulsory social security
P Education
Q Human health and social work activities
R Culture, sports and recreation
S Other service activities
T Activities of households as employers; undifferentiated goods- and
service- producing activities of households for own use
U Extraterritorial organisations and bodies

O-Q Government and care

This category is made up of the categories:
O Public administration, public services and compulsory social security
P Education
Q Human health and social work activities

Total

This category is made up of the categories:
O Public administration, public services and compulsory social security
P Education
Q Human health and social work activities

Q Health and social work activities

Q Human health and social work 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 on current transactions approach

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 exports of goods

Net exports, the difference between exports and imports of goods.

Net exports of services

Net exports, the difference between exports and imports of services.

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.

Adjustment for equity pension funds

Adjustment for net equity in pension funds reserves
Since households are treated in the financial accounts as owners of the
pension funds reserves an adjustment item is necessary to ensure that any
excess of contributions to pension schemes over pension benefits does not
affect household savings:
minus:
=
This adjustment is also made for the claims of non-residents on the
reserves of Dutch insurance companies.

Surplus of nation on current transaction

Surplus of the nation on current transactions with
the rest of the world
The surplus of the nation on current transactions consists of:
- net exports, the difference between exports and imports of goods and
services.
- net primary income from the rest of the world: compensation of
employees, taxes on production and imports, subsidies and property income,
such as interest and dividend.
- net current transfers from the rest of the world, such as dividend tax,
social security benefits and other current transfers.

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

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.

Actual individual consumption

Final consumption expenditure by households refers to expenditure on
consumption goods and services. In contrast, actual final consumption
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.
So actual individual consumption is:
plus:
plus:
=

Actual collective final consumption

Services for collective consumption (collective services) are pro-
vided simultaneously to all members of the community or all
members of a particular section of the community. Actual collec-
tive consumption consists in particular of government expendi-
tures on services in the field of:
management and regulation of society.
security and defence.
law and order, legislation and regulation.
public health.
environment.
research and development.
infrastructure and economic development.

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.

Total gross fixed capital formation

Fixed capital formation by type of capital
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.

Sales of existing fixed assets (-)

Sales of existing fixed assets.

Exports by groups of products

Details of exports of goods and services by groups of products.

Other manufactured products i.e.

Exports of other manufacturing products i.e.

Imports by groups of products

Details of imports of goods and services by groups of products.
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.

Other manufactured products i.e.

Imports of other manufacturing products i.e.