Structure national net lending/borrowing; NA, 1995-2016

Structure national net lending/borrowing; NA, 1995-2016

Periods Gross domestic product (mln euro) Net primary income from rest of world Net primary income from rest of world (mln euro) Net primary income from rest of world Primary income from rest of world Total (mln euro) Net primary income from rest of world Primary income from rest of world Compensation of employees (mln euro) Net primary income from rest of world Primary income from rest of world Property income (mln euro) Net primary income from rest of world Primary income from rest of world Subsidies received from rest of world (mln euro) Net primary income from rest of world Primary income paid to rest of world Total (mln euro) Net primary income from rest of world Primary income paid to rest of world Compensation of employees (mln euro) Net primary income from rest of world Primary income paid to rest of world Property income (mln euro) Net primary income from rest of world Primary income paid to rest of world Taxes on production and imports (mln euro) Gross national income (mln euro) Consumption of fixed capital (-) (mln euro) Net national income (mln euro) Net current transfers from rest of world Net current transfers from rest of world (mln euro) Net current transfers from rest of world Current transfers from rest of world Total (mln euro) Net current transfers from rest of world Current transfers from rest of world Current taxes on income and wealth (mln euro) Net current transfers from rest of world Current transfers from rest of world Social contributions (mln euro) Net current transfers from rest of world Current transfers from rest of world Social benefits in cash (mln euro) Net current transfers from rest of world Current transfers from rest of world Other current transfers (mln euro) Net current transfers from rest of world Current transfers paid to rest of world Total (mln euro) Net current transfers from rest of world Current transfers paid to rest of world Current taxes on income and wealth (mln euro) Net current transfers from rest of world Current transfers paid to rest of world Social contributions (mln euro) Net current transfers from rest of world Current transfers paid to rest of world Social benefits in cash (mln euro) Net current transfers from rest of world Current transfers paid to rest of world Other current transfers (mln euro) Net disposable national income (mln euro) Final consumption expenditure (-) (mln euro) Adjustm. change in pension entitlements (mln euro) Net national saving (mln euro) Net fixed capital formation (-) (mln euro) Changes in inventories (-) (mln euro) Surplus nation on current transactions Surplus nation on current transactions (mln euro) Surplus nation on current transactions Net exports Total (mln euro) Surplus nation on current transactions Net exports Net exports of goods (mln euro) Surplus nation on current transactions Net exports Net exports of services (mln euro) Surplus nation on current transactions Net primary income from rest of world Net primary income (mln euro) Surplus nation on current transactions Net primary income from rest of world Primary income from rest of world (mln euro) Surplus nation on current transactions Net primary income from rest of world Primary income paid to rest of world (-) (mln euro) Surplus nation on current transactions Net current transfers from rest of world Net current transfers (mln euro) Surplus nation on current transactions Net current transfers from rest of world Current transfers from rest of world (mln euro) Surplus nation on current transactions Net current transfers from rest of world Current transfers paid to rest of world (mln euro) Surplus nation on current transactions Adjustm. change in pension entitlements (mln euro) Net capital transfers from rest of world Net capital transfers from rest of world (mln euro) Net capital transfers from rest of world Capital transfers from rest of world (mln euro) Net capital transfers from rest of world Capital transfers paid to rest of world (mln euro) Acq. less disposals of non-prod. assets (mln euro) National net lending or net borrowing National net lending or net borrowing (mln euro) National net lending or net borrowing Total financial transactions in assets (mln euro) National net lending or net borrowing Total financial transactions liabilities (mln euro) National net lending or net borrowing Statistical discrepancy (mln euro)
1995 325,341 4,188 42,591 1,176 39,548 1,867 38,403 1,698 35,091 1,614 329,529 52,469 277,060 -6,166 4,030 472 477 36 3,045 10,196 540 233 572 8,851 270,894 231,972 -79 38,843 17,667 960 20,216 22,273 22,370 -97 4,188 42,591 38,403 -6,166 4,030 10,196 -79 -926 573 1,499 0 19,290 56,011 36,183 -538
1996 340,964 4,846 48,040 1,220 45,336 1,484 43,194 1,664 39,984 1,546 345,810 54,545 291,265 -6,517 4,372 513 490 42 3,327 10,889 576 234 611 9,468 284,748 242,459 -76 42,213 20,678 2,270 19,265 21,012 21,240 -228 4,846 48,040 43,194 -6,517 4,372 10,889 -76 -1,364 850 2,214 0 17,901 80,340 62,498 59
1997 364,961 2,636 58,688 1,295 56,061 1,332 56,052 1,829 52,517 1,706 367,597 56,842 310,755 -7,008 4,961 763 539 47 3,612 11,969 624 248 672 10,425 303,747 256,837 -90 46,820 24,540 3,091 19,189 23,651 24,168 -517 2,636 58,688 56,052 -7,008 4,961 11,969 -90 -1,134 790 1,924 7 18,062 118,247 97,148 -3,037
1998 389,315 -2,142 60,476 1,306 57,892 1,278 62,618 2,057 58,932 1,629 387,173 60,092 327,081 -6,619 4,975 913 580 46 3,436 11,594 636 281 712 9,965 320,462 275,037 -101 45,324 27,365 2,980 14,979 23,841 25,919 -2,078 -2,142 60,476 62,618 -6,619 4,975 11,594 -101 -774 791 1,565 26 14,231 187,327 171,165 -1,931
1999 414,838 4,843 76,547 1,135 74,069 1,343 71,704 1,777 68,281 1,646 419,681 64,307 355,374 -6,533 5,391 1,528 660 54 3,149 11,924 588 288 771 10,277 348,841 293,851 -119 54,871 32,943 1,566 20,362 22,171 25,461 -3,290 4,843 76,547 71,704 -6,533 5,391 11,924 -119 -770 1,128 1,898 12 19,604 257,963 237,314 -1,045
2000 448,061 7,194 124,084 1,209 121,544 1,331 116,890 1,984 113,309 1,597 455,255 70,031 385,224 -8,787 6,799 1,048 720 64 4,967 15,586 665 309 849 13,763 376,437 315,550 -105 60,782 32,677 527 27,578 29,276 33,733 -4,457 7,194 124,084 116,890 -8,787 6,799 15,586 -105 -771 1,453 2,224 -4 26,803 295,780 269,225 248
2001 476,696 -3,183 110,212 1,289 107,854 1,069 113,395 2,020 109,868 1,507 473,513 75,517 397,996 -7,891 7,032 1,862 736 200 4,234 14,923 708 296 965 12,954 390,105 336,117 -140 53,848 31,509 1,803 20,536 31,750 37,366 -5,616 -3,183 110,212 113,395 -7,891 7,032 14,923 -140 -73 1,062 1,135 22 20,485 373,614 351,613 -1,516
2002 494,501 -2,203 93,927 1,246 91,422 1,259 96,130 2,195 92,570 1,365 492,298 80,232 412,066 -7,962 6,275 1,833 791 217 3,434 14,237 727 323 1,088 12,099 404,104 355,925 -154 48,025 25,338 -576 23,263 33,582 40,283 -6,701 -2,203 93,927 96,130 -7,962 6,275 14,237 -154 240 954 714 0 23,503 156,380 129,071 -3,806
2003 506,671 4,531 101,103 1,130 98,603 1,370 96,572 2,512 92,652 1,408 511,202 83,414 427,788 -7,594 6,502 1,910 919 207 3,466 14,096 941 299 1,239 11,617 420,194 366,956 -179 53,059 22,349 -319 31,029 34,271 41,790 -7,519 4,531 101,103 96,572 -7,594 6,502 14,096 -179 255 1,255 1,000 16 31,300 232,150 197,903 -2,947
2004 523,939 6,330 126,873 1,044 124,453 1,376 120,543 2,838 116,126 1,579 530,269 85,731 444,538 -8,500 7,107 2,175 1,012 218 3,702 15,607 1,034 278 1,322 12,973 436,038 374,059 -172 61,807 21,735 900 39,172 41,514 48,046 -6,532 6,330 126,873 120,543 -8,500 7,107 15,607 -172 351 1,236 885 35 39,558 185,372 145,984 170
2005 545,609 -3,529 158,951 1,011 156,648 1,292 162,480 2,962 157,835 1,683 542,080 88,769 453,311 -9,476 7,679 2,610 1,072 230 3,767 17,155 1,247 272 1,504 14,132 443,835 384,184 -221 59,430 23,603 1,698 34,129 47,355 53,787 -6,432 -3,529 158,951 162,480 -9,476 7,679 17,155 -221 199 1,324 1,125 18 34,346 260,435 224,314 -1,775
2006 579,212 8,998 186,383 988 183,873 1,522 177,385 3,125 172,475 1,785 588,210 92,292 495,918 -10,530 7,967 3,068 1,107 242 3,550 18,497 1,320 276 1,571 15,330 485,388 404,033 -153 81,202 30,878 1,432 48,892 50,577 57,594 -7,017 8,998 186,383 177,385 -10,530 7,967 18,497 -153 -326 868 1,194 -907 47,659 549,628 501,690 -279
2007 613,280 5,466 243,196 962 241,206 1,028 237,730 5,681 230,025 2,024 618,746 96,440 522,306 -10,755 8,931 4,337 1,174 234 3,186 19,686 1,647 281 1,706 16,052 511,551 422,671 -164 88,716 37,305 2,740 48,671 54,124 60,354 -6,230 5,466 243,196 237,730 -10,755 8,931 19,686 -164 -451 741 1,192 -9,873 38,347 538,279 498,807 -1,125
2008 639,163 -11,888 202,806 941 200,823 1,042 214,694 6,839 205,678 2,177 627,275 101,072 526,203 -9,508 10,368 4,575 1,868 248 3,677 19,876 1,578 282 2,089 15,927 516,695 441,166 -459 75,070 41,342 445 33,283 55,138 60,837 -5,699 -11,888 202,806 214,694 -9,508 10,368 19,876 -459 -753 583 1,336 414 32,944 21,460 -11,896 -412
2009 617,540 552 172,948 1,045 170,825 1,078 172,396 6,719 163,857 1,820 618,092 104,435 513,657 -6,587 10,036 3,876 2,442 248 3,470 16,623 1,350 284 2,577 12,412 507,070 442,934 -691 63,445 27,119 -2,204 38,530 45,256 53,216 -7,960 552 172,948 172,396 -6,587 10,036 16,623 -691 -842 913 1,755 274 37,962 122,485 84,311 -212
2010 631,512 5,114 224,720 1,099 222,726 895 219,606 5,532 212,106 1,968 636,626 106,982 529,644 -9,256 10,063 3,628 1,904 248 4,283 19,319 1,725 284 2,471 14,839 520,388 449,742 -341 70,305 17,667 4,308 48,330 52,813 60,229 -7,416 5,114 224,720 219,606 -9,256 10,063 19,319 -341 -1,890 896 2,786 703 47,143 183,994 139,880 3,029
2011 642,929 11,758 247,129 1,084 245,039 1,006 235,371 5,829 227,356 2,186 654,687 107,068 547,619 -9,450 10,217 3,632 1,904 248 4,433 19,667 1,975 284 2,476 14,932 538,169 456,097 -331 81,741 23,334 1,526 56,881 54,904 64,921 -10,017 11,758 247,129 235,371 -9,450 10,217 19,667 -331 -552 783 1,335 -1,328 55,001 394,854 341,481 1,628
2012 645,164 13,286 232,502 1,076 230,460 966 219,216 5,872 211,297 2,047 658,450 107,897 550,553 -9,275 10,736 3,868 1,927 248 4,693 20,011 1,937 284 2,642 15,148 541,278 459,631 -345 81,302 14,031 1,659 65,612 61,946 71,096 -9,150 13,286 232,502 219,216 -9,275 10,736 20,011 -345 -268 780 1,048 -5,877 59,467 228,610 169,617 474
2013 652,748 9,131 233,785 1,015 231,728 1,042 224,654 5,611 217,034 2,009 661,879 109,362 552,517 -11,780 10,334 3,730 1,984 250 4,370 22,114 2,055 284 2,635 17,140 540,737 463,903 -433 76,401 7,745 1,920 66,736 69,818 75,347 -5,529 9,131 233,785 224,654 -11,780 10,334 22,114 -433 -562 746 1,308 -1,092 65,082 294,541 227,787 -1,672
2014 663,008 -1,721 258,724 947 256,888 889 260,445 5,625 252,404 2,416 661,287 110,194 551,093 -10,632 11,629 4,504 2,694 253 4,178 22,261 2,107 284 2,479 17,391 540,461 468,668 -481 71,312 9,336 2,925 59,051 71,885 76,065 -4,180 -1,721 258,724 260,445 -10,632 11,629 22,261 -481 -432 723 1,155 -162 58,457 179,476 120,363 -656
2015 683,457 -3,847 228,879 1,015 226,940 924 232,726 5,922 224,182 2,622 679,610 111,755 567,855 -10,822 12,156 4,375 2,725 270 4,786 22,978 2,443 284 2,756 17,495 557,033 475,147 -431 81,455 20,709 3,711 57,035 72,135 78,387 -6,252 -3,847 228,879 232,726 -10,822 12,156 22,978 -431 -893 931 1,824 -33,600 22,542 164,079 140,730 -807
2016* 702,641 -8,410 208,613 1,053 206,790 770 217,023 6,216 207,722 3,085 694,231 114,389 579,842 -7,277 11,052 4,310 2,703 240 3,799 18,329 2,383 284 2,760 12,902 572,565 484,374 -413 87,778 25,660 870 61,248 77,348 83,717 -6,369 -8,410 208,613 217,023 -7,277 11,052 18,329 -413 -1,042 847 1,889 -596 59,610 222,508 164,138 1,240
Source: CBS.
Explanation of symbols

Table description


This table presents annual figures about the structure of national net lending or net borrowing, starting from the gross domestic product. National net lending or net borrowing is the difference between the assets of the Netherlands on the rest of the world and the liabilities of the Netherlands to the rest of the world.
National net lending or net borrowing presents the amount all sectors together in the Netherlands can lend / invest or has to borrow, given the current and capital transactions.

The macroeconomic variables in the calculation of national net lending (+) or net borrowing (-) are expressed in values at current prices, million euro.

Data available from: 1995 up to and including 2016.

Status of the figures:
Data from 1995 up to and including 2015 are final. Data of 2016 are provisional. Since this table has been discontinued, data of 2016 will not become final.

Changes as of June 22nd 2018:
None. This table has been discontinued.
Statistics Netherlands has carried out a revision of the national accounts. New statistical sources and estimation methods have been used during the revision. Therefore this table has been replaced by table Structure national net lending/borrowing; National Accounts. For further information see section 3.

When will new figures be published?
Not applicable anymore.

Description topics

Gross domestic product
Gross domestic product (GDP) is a quantity that expresses the size of an economy. The volume change of GDP during a reference period expresses the growth or shrinkage of the economy. Gross domestic product at market prices is the final result of the production activity of resident producer units. It can be defined in three ways:

- production approach: GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies on products (which are not allocated to sectors and industries). It is also the balancing item in the total economy production account;
- expenditure approach: GDP is the sum of final uses of goods and services by resident institutional units (final consumption and gross capital formation), plus exports and minus imports of goods and services;
- income approach: GDP is the sum of uses in the total economy generation of income account (compensation of employees, taxes on production and imports less subsidies, gross operating surplus and mixed income of the total economy).

Net domestic product at market prices (NDP) can be obtained by deducting consumption of fixed capital from GDP.
Net primary income from rest of world
Received primary incomes from the rest of the world less paid primary incomes to the rest of the world.

When a residing enterprise has been active abroad for more than one year, the local kind-of-activity unit is no longer considered a resident in the Netherlands but a resident in the country in which it has become active. Vice versa, a kind-of-activity unit of foreign origin is no longer seen as a non-resident after it has been active in the Netherlands for more than one year. Resident persons who settle abroad are no longer seen as residents in the Netherlands but as residents in the country they moved to one year after they have left. Vice versa a foreigner who has settled in the Netherlands becomes a resident one year after he or see moved in. Students are an exception to this rule. They are always considered residents in the country they lived in before commencing their study.
Net primary income from rest of world
Primary income from rest of world
Compensation of employees, property income and (EU) subsidies received from the rest of the world.
Total
Compensation of employees
Compensation of employees received from the rest of the world. This is largely due to residents in the Netherlands who have settled abroad for less than one year and work for a non-residential enterprise. (This could however by an affiliate to a Dutch enterprise.) After these persons have settled abroad for more than one year they become non-residents in the Netherlands and their compensation is no longer part of the flow of income from the rest of the world to the Netherlands. The compensation of cross-border workers who live in the Netherlands but work abroad remains however part of this flow.
Property income
Received interest, dividends, reinvested earnings on direct foreign investment and other property income from the rest of the world.
Subsidies received from rest of world
Subsidies received from the rest of the world, such as from the European Union.
Primary income paid to rest of world
Compensation of employees, property income and (EU) taxes on production and imports paid to the rest of the world.
Total
Compensation of employees
Compensation of employees paid to the rest of the world. This is largely due to residents in the Netherlands who have settled abroad for less than one year and work for a non-residential enterprise. (This could however by an affiliate to a Dutch enterprise.) After these persons have settled abroad for more than one year they become non-residents in the Netherlands and their compensation is no longer part of the flow of income from the rest of the world to the Netherlands. The compensation of cross-border workers who live in the Netherlands but work abroad remains however part of this flow.
Property income
Paid interest, dividends, reinvested earnings on direct foreign investment and other property income from the rest of the world.
Taxes on production and imports
Taxes on production and imports paid to the rest of the world.
Gross national income
Gross national income (at market prices) represents total primary income receivable by resident institutional units: compensation of employees, taxes on production and imports less subsidies, property income (receivable less payable), operating surplus and mixed income.
Gross national income (at market prices) equals GDP minus primary income payable by resident institutional units to non-resident institutional units plus primary income receivable by resident institutional units from the rest of the world.
National income is not a production concept but an income concept, which is more significant if expressed in net terms, i.e. after deduction of the consumption of fixed capital.

Consumption of fixed capital (-)
The decline in value of fixed assets owned, as a result of normal wear and tear and obsolescence.

For the estimation of the consumption of fixed capital the perpetual inventory method (PIM) is applied. The capital stock at the beginning of the year is brought to replacement value because of price changes. The fixed capital formation during the year is added to this capital stock. Next it is diminished with the value of capital goods discarded. This gives to value of capital stock at the end of the year. The consumption of fixed obtained by applying a depreciation percentage.
This method may differ considerably from the method used to calculate depreciation in business accounts, which is based on historical costs or fiscal life span.
Net national income
Net national income remains after deducting consumption of fixed capital from gross national income.
Net current transfers from rest of world
The difference between current transfers received from the rest of the world and provided to the rest of the world.

When a residing enterprise has been active abroad for more than year, the local kind-of-activity unit is no longer considered a resident in the Netherlands but a resident in the country in which it is active. Vice versa, a kind-of-activity unit of foreign origin is no longer seen as a non-resident after it has been active in the Netherlands for more than one year. Resident persons who settle abroad are no longer seen as residents in the Netherlands but as residents in the country they moved to one year after they have left. Vice versa a foreigner who has settled in the Netherlands becomes a resident one year after he or she has moved in. Students are an exception to this rule. They are always considered residents in the country they lived in before commencing their study.
Net current transfers from rest of world
Current transfers from rest of world
Current taxes on income and wealth, social contributions, social benefits in cash and other current transfers received from rest of the world.
Total
Current taxes on income and wealth
Current taxes on income and wealth received from rest of the world. Taxes on income consist of taxes on incomes, profits and capital gains. They are assessed on the actual or presumed incomes of individuals, households, corporations or NPIs. They include taxes assessed on holdings of property, land or real estate when these holdings are used as a basis for estimating the income of their owners.
These include: corporate income tax, payroll tax, income tax, dividend tax, gambling tax and one-time revenue in connection with the liquidation of holding companies.

Social contributions
Social contributions received from rest of the world. Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Actually, the employers' part is paid directly to the insurers. However, in the national accounts, the employers' contributions are supposed to be part of primary income of households (i.e. the income from direct participation in the production process). Therefore, in first instance these contributions are treated as payments by employers to households as compensation of employees, who are deemed to pay them to the insurers in the income account.
Social benefits in cash
Social benefits other than social transfers in kind is made up of three sub-headings:
Social security benefits in cash;
Other social insurance benefits;
Social assistance benefits in cash.

Other current transfers
Other current transfers consist of non-life insurance premiums, non-life insurance claims, current transfers within general government, current international co-operation and miscellaneous current transfers.
Current transfers paid to rest of world
Current taxes on income and wealth, social contributions, social benefits in cash and other current transfers paid to rest of the world.
Total
Current taxes on income and wealth
Current taxes on income and wealth paid to the rest of the world. Taxes on income consist of taxes on incomes, profits and capital gains. They are assessed on the actual or presumed incomes of individuals, households, corporations or NPIs. They include taxes assessed on holdings of property, land or real estate when these holdings are used as a basis for estimating the income of their owners. These include: corporate income tax, payroll tax, income tax, dividend tax, gambling tax and one-time revenue in connection with the liquidation of holding companies.
Social contributions
Social contributions paid to the rest of the world. Social contributions include social security contributions, private social contributions (among which contributions to pension schemes) and imputed social contributions. Employers, employees, self-employed persons and non-active persons pay these contributions. Actually, the employers' part is paid directly to the insurers. However, in the national accounts, the employers' contributions are supposed to be part of primary income of households (i.e. the income from direct participation in the production process). Therefore, in first instance these contributions are treated as payments by employers to households as compensation of employees, who are deemed to pay them to the insurers in the income account.
Social benefits in cash
Social benefits other than social transfers in kind is made up of three sub-headings:
Social security benefits in cash;
Other social insurance benefits;
Social assistance benefits in cash.
Other current transfers
Other current transfers consist of non-life insurance premiums, non-life insurance claims, current transfers within general government, current international co-operation and miscellaneous current transfers.
Net disposable national income
The sum of the net disposable incomes of the institutional sectors. Gross national disposable income equals gross national income (at market prices) minus current transfers (current taxes on income, wealth et cetera, social contributions, social benefits and other current transfers) paid to non-resident units, plus current transfers received by resident units from the rest of the world. Because disposable national income is not a production concept but an income concept, it is usually expressed in net terms, i.e. after deduction of depreciation (consumption of fixed capital).
Final consumption expenditure (-)
Expenditure on goods or services that are used for the direct satisfaction of individual or collective needs. Expenses may be made at home or abroad, but they are always made by resident institutional units, that is households or institutions residing in the Netherlands. By definition only households, non-profit institutions serving households (NPISHs) and government institutions consume. Enterprises do not: expenses they make on goods and services are thought to serve production and are therefore classified as intermediate consumption of fixed capital formation. The general government is a special case. The government also has intermediate consumption, just like enterprises. But the output delivered by the government which is not directly paid for, non-market output (like safety), is classified as consumption by the general government. It is said that the government ‘consumes its own production’. The system of national accounts demands that all that is produced is also consumed (or serves as an investment). By convention, government output is consumed by the government itself. This is not the only consumption by the general government. It also contains social transfers in kind. In the Netherlands this mainly concerns health care bills paid for by the government and an allowance for the rent.
Adjustm. change in pension entitlements
The adjustment for the change in pension entitlements represents the adjustment needed to make appear in the saving of households the change in the pension entitlements on which households have a definite claim. The pension entitlement change comes from contributions and benefits recorded in the secondary distribution of income account. Since households are treated in the financial accounts and balance sheets of the system as owning the pension entitlements, an adjustment item is necessary to ensure that any excess of pension contributions over pension receipts does not affect household saving.
In order to neutralise this effect, an adjustment equal to:
the total value of actual and imputed social contributions in respect of pensions payable into pension schemes in which households have a definite claim
plus the total value of contribution supplements payable out of property income attributed to pension schemes beneficiaries
minus the value of associated service charges
minus the total value of pensions paid out as social insurance benefits by pension schemes
is added to the disposable income, or adjusted disposable income, of households in the use of income accounts before arriving at saving.
In this way, the saving of households is the same as it would be had pension contributions and pension receipts not been recorded as current transfers in the secondary distribution of income account. This adjustment item is necessary in order to reconcile the saving of households with the change in their pension entitlements recorded in the financial account of the system. Opposite adjustments are, of course, needed in the use of income accounts of the units responsible for paying pensions.
Net national saving
The portion of national disposable income that has not been used for final consumption expenditure. This equals is the sum of the net savings of the various institutional sectors. It is usually expressed in net terms, i.e. after deduction of consumption of fixed capital.
Net fixed capital formation (-)
Expenditure on produced assets that are used in a production process for more than one year. This may concern a building, dwelling, transport equipment or a machine. This in contrast with goods and services which are used up during the production process, the so-called intermediate use (e.g. iron ore). Fixed capital does lose value over time as a result of normal wear and tear and obsolescence. This is called consumption of fixed capital (also called depreciation). The value of fixed capital formation in which the consumption of fixed capital is not deducted is called gross fixed capital formation. Deduction of the consumption of fixed capital results in net fixed capital formation.

The following types of fixed assets exist: dwellings and other buildings and structures, machinery and equipment, transport equipment, weapon systems (included in machinery and equipment), computers, software, telecommunication equipment, research and development, cultivated biological resources, mineral exploration and evaluation, and costs of ownership transfer on non-produced assets, like land, contracts, leases and licences.
Changes in inventories (-)
Changes in inventories including acquisitions less disposals of valuables.
Changes in the stock of raw materials, semi-finished products, work-in-progress (unfinished works like ships or oil rigs) and finished products still held by the producer. Changes in stock do not include work-in-progress in construction. Positive changes in inventories arise when products are finished in the reference period but not yet sold. Alternatively, they arise when goods are purchased for intermediate consumption but not yet used. Negative changes in inventories arise when goods from stocks have been sold, or used in the production process. A more extensive list of changes in inventories is found in the European System of Accounts 2010.

In measuring changes in inventories, changes in prices during the reference period are not allowed to have any effect. The initial and final inventory is therefore valued at the same price. Raw materials are valued at the price of purchase. Final products are valued at the selling price. Work-in-progress is valued at the cost-price.

Acquisitions less disposals of valuables 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.
Surplus nation on current transactions
The net lending (if positive) or borrowing (if negative) of the total economy to / from the rest of the world on current transactions (trade, primary income, current transfers). The surplus of the nation on current transactions is the last item in the use of income account to the rest of the world and consists of: net exports, net primary income from the rest of the world and net current transfers from the rest of the world. The surplus of the nation on current transactions equals the net national savings less the net fixed capital formation.
Surplus nation on current transactions
Net exports
Net exports is the difference between the value of the exports of goods and services and the value of the imports of goods and services.
Total
Net exports of goods
Net exports of goods is the difference between the value of the exports of goods and the value of the imports of goods.
Net exports of services
Net exports of services is the difference between the value of the exports of services and the value of the imports of services.
Net primary income from rest of world
Received primary incomes from the rest of the world less paid primary incomes to the rest of the world.

When a residing enterprise has been active abroad for more than one year, the local kind-of-activity unit is no longer considered a resident in the Netherlands but a resident in the country in which it has become active. Vice versa, a kind-of-activity unit of foreign origin is no longer seen as a non-resident after it has been active in the Netherlands for more than one year. Resident persons who settle abroad are no longer seen as residents in the Netherlands but as residents in the country they moved to one year after they have left. Vice versa a foreigner who has settled in the Netherlands becomes a resident one year after he or see moved in. Students are an exception to this rule. They are always considered residents in the country they lived in before commencing their study.
Net primary income
Primary income from rest of world
Compensation of employees, property income and (EU) subsidies received from the rest of the world.
Primary income paid to rest of world (-)
Compensation of employees, property income and (EU) subsidies paid to the rest of the world.
Net current transfers from rest of world
The difference between current transfers received from the rest of the world and provided to the rest of the world.

When a residing enterprise has been active abroad for more than year, the local kind-of-activity unit is no longer considered a resident in the Netherlands but a resident in the country in which it is active. Vice versa, a kind-of-activity unit of foreign origin is no longer seen as a non-resident after it has been active in the Netherlands for more than one year. Resident persons who settle abroad are no longer seen as residents in the Netherlands but as residents in the country they moved to one year after they have left. Vice versa a foreigner who has settled in the Netherlands becomes a resident one year after he or she has moved in. Students are an exception to this rule. They are always considered residents in the country they lived in before commencing their study.
Net current transfers
Current transfers from rest of world
Current taxes on income and wealth, social contributions, social benefits in cash and other current transfers received from rest of the world.
Current transfers paid to rest of world
Current taxes on income and wealth, social contributions, social benefits in cash and other current transfers paid to rest of the world.
Adjustm. change in pension entitlements
The adjustment for the change in pension entitlements represents the adjustment needed to make appear in the saving of households the change in the pension entitlements on which households have a definite claim. The pension entitlement change comes from contributions and benefits recorded in the secondary distribution of income account. Since households are treated in the financial accounts and balance sheets of the system as owning the pension entitlements, an adjustment item is necessary to ensure that any excess of pension contributions over pension receipts does not affect household saving.
In order to neutralise this effect, an adjustment equal to:
the total value of actual and imputed social contributions in respect of pensions payable into pension schemes in which households have a definite claim
plus the total value of contribution supplements payable out of property income attributed to pension schemes beneficiaries
minus the value of associated service charges
minus the total value of pensions paid out as social insurance benefits by pension schemes
is added to the disposable income, or adjusted disposable income, of households in the use of income accounts before arriving at saving.
In this way, the saving of households is the same as it would be had pension contributions and pension receipts not been recorded as current transfers in the secondary distribution of income account. This adjustment item is necessary in order to reconcile the saving of households with the change in their pension entitlements recorded in the financial account of the system. Opposite adjustments are, of course, needed in the use of income accounts of the units responsible for paying pensions.
Net capital transfers from rest of world
The difference between capital transfers received from the rest of the world and provided to the rest of the world. Capital transfers require the acquisition or disposal of an asset, or assets, by at least one of the parties to the transaction. Whether made in cash or in kind, they result in a commensurate change in the financial, or non- financial, assets shown in the balance sheets of one or both parties to the transaction. Capital transfers include investment grants, capital taxes, other capital transfers and imputed capital transfers.
Net capital transfers from rest of world
Capital transfers from rest of world
Capital transfers received from the rest of the world.
Capital transfers paid to rest of world
Capital transfers paid to rest of world.
Acq. less disposals of non-prod. assets
Acquisitions less disposals of non-produced non-financial assets mainly consist of sales of land by public (municipal) development corporations to investors in dwellings and non-residential buildings. The valuation of sales and purchases of land is exclusive of VAT and transfer costs. These are included in fixed capital formation.
National net lending or net borrowing
Net lending (+) or net borrowing (-) is the balancing item on the current and the capital account. This balancing item equals the balance of transactions on the financial account; a deficit on the current and capital account is financed by new liabilities and/or the sale of financial assets. In case of a surplus, liabilities are repaid and/or financial assets acquired.
Net lending or net borrowing for the total economy is equal to the balance on the current and the capital account of all institutional sectors. The balance of the financial account for the total economy shows the amount of net lending to or borrowing from the rest of the world.


National net lending or net borrowing
Total financial transactions in assets
Total financial transactions in assets on rest of the rest of the world.
Total financial transactions liabilities
Total financial transactions in liabilities to the rest of the world.
Statistical discrepancy
The statistical discrepancy arises by the use of different sources for the current and capital transactions on the one hand and the financial transactions on the other hand.