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

13-15 Man. of textile-, leatherproducts

Manufacturing of textile-, leatherproducts

28 Man. of other machinery and equipment

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

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

Total

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

77 Renting and leasing of tangible goods

77 Renting and leasing of motor vehicles, consumer goods, machines and
other tangible goods

78 Employment activities

78 Employment placement, provision of temporary employment and payrolling

79 Travel agencies, tour operators etc

79 Travel agencies, tour operators, tourist information and reservation
services

80-82 Security and other services

This category is made up of the categories:
80 Security and investigation
81 Facility management
82 Other business services

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

R-U Culture, recreation, other services

This category is made up of the categories:
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

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.

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.

Gross national income

National income is the sum of GDP and net primary income
from 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.

Gross disposable national income

Total disposable income of all resident units is called disposable
national income, which is equal to national income plus net current
transfers received from the rest of the world.

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.

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.

Gross national saving

Saving is the difference between disposable income and final consumption
expenditure.
In the national accounts households are treated as owners of life
insurance and pension funds reserves. Since contributions to pension
schemes and pension benefits are recorded in the secondary income account,
an adjustment item (adjustment for net equity in pension funds reserves)
on the use of income account is necessary to ensure that any excess of
contributions to pension schemes over pension benefits does not affect
household saving.

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.

Surplus of the nation on income

This variable shows the amount left over from the national disposable
income after the consumption and investment had been expended. This amount
is by definition equal to the surplus of the nation on current
transactions.