Sector accounts; current transactions by sectors 1969- q4 2013

Table explanation

Description topics

Resources

Revenue of institutional sectors.

Imports of goods and services

Imports of goods refer to goods intended for residents, which are imported from abroad into the Dutch economic territory. The definition of imports includes raw materials, semi-manufactured products, fuels and fixed assets intended for investment. Also included are imported goods, which are re-exported without undergoing any processing.
Imports of services are related to the expenses of Dutch businesses abroad, such as transport costs, bank charges and business travel. Imports of services by the general government include expenditures made by Dutch embassies and consulates abroad. Imports by households include amongst other things, imported consumer goods and the direct consumption expenditure of Dutch tourists, border residents, diplomats and soldiers abroad.

Total

Imports of goods refer to goods intended for residents, which are imported from abroad into the Dutch economic territory. The definition of imports includes raw materials, semi-manufactured products, fuels and fixed assets intended for investment. Also included are imported goods, which are re-exported without undergoing any processing.
Imports of services are related to the expenses of Dutch businesses abroad, such as transport costs, bank charges and business travel. Imports of services by the general government include expenditures made by Dutch embassies and consulates abroad. Imports by households include amongst other things, imported consumer goods and the direct consumption expenditure of Dutch tourists, border residents, diplomats and soldiers abroad.

Imports of goods

Imports of goods refer to goods intended for residents, which are imported from abroad into the Dutch economic territory. The definition of imports includes raw materials, semi-manufactured products, fuels and fixed assets intended for investment. Also included are imported goods, which are re-exported without undergoing any processing.

Imports of services

Imports of services are related to the expenses of Dutch businesses abroad, such as transport costs, bank charges and business travel. Imports of services by the general government include expenditures made by Dutch embassies and consulates abroad. Imports by households include amongst other things, imported consumer goods and the direct consumption expenditure of Dutch tourists, border residents, diplomats and soldiers abroad.

Output

Output covers the value of all goods produced for sale, including unsold goods, and all receipts of 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.

Output of imputed bank services

The concept of imputed bank services encompasses the remuneration for financial services which are not paid for directly. This remuneration is included in the actual interest paid or received. In the national accounts this indirect remuneration is specified as financial intermediation service charge indirectly measured.
The size of the imputed bank services is determined on the basis of a ‘reference rate’. This reference rate equals the rate of the interbank loans. The difference between the reference rate and the actual interest paid to depositors or the actual interest received from borrowers is the indirectly measured financial intermediation service charge. The actual interest paid and received is corrected for these imputed bank services.

Taxes on production and imports

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Total

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Taxes on products

Taxes on products are related to the value or the volume of products. They are levied on domestically produced or transacted products and on imported products.
Taxes on products are classified into taxes on domestic products, taxes on imports and VAT.

Taxes on imports (excluding VAT)

Taxes on imports are related to the value or the volume of imported products. Examples are import duties and excise duties on imported fuel.

Other taxes on production

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

Property income

Property income is the income receivable by the owner of a financial asset or a tangible non-produced asset in return for providing funds to, or putting the tangible non-produced asset at the deposal of, another institutional unit.
Property income consists of: interest, distributed income of corporations (dividends and withdrawals from income of quasi-corporations), reinvested earnings on direct foreign investments, property income attributed to insurance policy holders and rents on land and subsoil assets.

Interest

Interest is imputed to the period for which the underlying claim or debt exists. The actual interest payments or receipts are corrected for imputed bank services. Therefore there is a shift from actual interest payments and receipts to the production or the consumption of bank services. For producers of imputed bank services this means a decrease of the received interest and an increase of the paid interest with respect to the actual interest flows. For the consumers of imputed bank services this means an increase of received interest and a decrease of paid interest, compared with the actual interest flows.

Imputed bank services

Imputed bank services cause a shift from actual interest payments/receipts to the production or the consumption of bank services.

Uses

Expenditure by institutional sectors.

Exports of goods and services

Exports of goods refer to 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 refer to 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.

Exports of goods

Exports of goods refer to goods, which have been exported by residents from the Dutch economic territory to the rest of the world.

Exports of services

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.

Taxes on production and imports

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Total

Taxes on production and imports are all taxes to the government and the EU paid by producers except for the current taxes on income and wealth.
All taxes paid by consumers are regarded as current taxes on income and wealth. So, depending on the taxpayer, the same tax is recorded as a tax on production or a tax on income and wealth. For example real estate taxes on dwellings, paid by tenants, are seen as taxes on income and wealth, while real estate taxes paid by owners of dwellings (including owner-occupiers) are seen as taxes on production.
Import duties to the EU are recorded as taxes on imports. The import duties paid by non-residents to the EU (via the government) are not recorded in the national accounts.
Taxes on production and imports are recorded according to the destination criterion. So, taxes collected by the central government on behalf of the local government or the EU are not recorded as receipts of the central government.

Taxes on products

Taxes on products are related to the value or the volume of products. They are levied on domestically produced or transacted products and on imported products.
Taxes on products are classified into taxes on domestic products, taxes on imports and VAT.

Other taxes on production

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

Property income

Property income is the income receivable by the owner of a financial asset or a tangible non-produced asset in return for providing funds to, or putting the tangible non-produced asset at the deposal of, another institutional unit.
Property income consists of: interest, distributed income of corporations (dividends and withdrawals from income of quasi-corporations), reinvested earnings on direct foreign investments, property income attributed to insurance policy holders and rents on land and subsoil assets.

Interest

Interest is imputed to the period for which the underlying claim or debt exists. The actual interest payments or receipts are corrected for imputed bank services. Therefore there is a shift from actual interest payments and receipts to the production or the consumption of bank services. For producers of imputed bank services this means a decrease of the received interest and an increase of the paid interest with respect to the actual interest flows. For the consumers of imputed bank services this means an increase of received interest and a decrease of paid interest, compared with the actual interest flows.

Imputed bank services

Imputed bank services cause a shift from actual interest payments/receipts to the production or the consumption of bank services.