Structure national net lending/borrowing; National Accounts

Structure national net lending/borrowing; National Accounts

Periods Gross domestic product (million euros) Net primary income from rest of world Net primary income from rest of world (million euros) Net primary income from rest of world Primary income from rest of world Total (million euros) Net primary income from rest of world Primary income from rest of world Compensation of employees (million euros) Net primary income from rest of world Primary income from rest of world Property income (million euros) Net primary income from rest of world Primary income from rest of world Subsidies received from rest of world (million euros) Net primary income from rest of world Primary income paid to rest of world Total (million euros) Net primary income from rest of world Primary income paid to rest of world Compensation of employees (million euros) Net primary income from rest of world Primary income paid to rest of world Property income (million euros) Net primary income from rest of world Primary income paid to rest of world Taxes on production and imports (million euros) Gross national income (million euros) Consumption of fixed capital (-) (million euros) Net national income (million euros) Net current transfers from rest of world Net current transfers from rest of world (million euros) Net current transfers from rest of world Current transfers from rest of world Total (million euros) Net current transfers from rest of world Current transfers from rest of world Current taxes on income and wealth (million euros) Net current transfers from rest of world Current transfers from rest of world Social contributions (million euros) Net current transfers from rest of world Current transfers from rest of world Social benefits in cash (million euros) Net current transfers from rest of world Current transfers from rest of world Other current transfers (million euros) Net current transfers from rest of world Current transfers paid to rest of world Total (million euros) Net current transfers from rest of world Current transfers paid to rest of world Current taxes on income and wealth (million euros) Net current transfers from rest of world Current transfers paid to rest of world Social contributions (million euros) Net current transfers from rest of world Current transfers paid to rest of world Social benefits in cash (million euros) Net current transfers from rest of world Current transfers paid to rest of world Other current transfers (million euros) Net disposable national income (million euros) Final consumption expenditure (-) (million euros) Adjustm. change in pension entitlements (million euros) Net national saving (million euros) Net fixed capital formation (-) (million euros) Changes in inventories (-) (million euros) Surplus nation on current transactions Surplus nation on current transactions (million euros) Surplus nation on current transactions Net exports Total (million euros) Surplus nation on current transactions Net exports Net exports of goods (million euros) Surplus nation on current transactions Net exports Net exports of services (million euros) Surplus nation on current transactions Net primary income from rest of world Net primary income (million euros) Surplus nation on current transactions Net primary income from rest of world Primary income from rest of world (million euros) Surplus nation on current transactions Net primary income from rest of world Primary income paid to rest of world (-) (million euros) Surplus nation on current transactions Net current transfers from rest of world Net current transfers (million euros) Surplus nation on current transactions Net current transfers from rest of world Current transfers from rest of world (million euros) Surplus nation on current transactions Net current transfers from rest of world Current transfers paid to rest of world (million euros) Surplus nation on current transactions Adjustm. change in pension entitlements (million euros) Net capital transfers from rest of world Net capital transfers from rest of world (million euros) Net capital transfers from rest of world Capital transfers from rest of world (million euros) Net capital transfers from rest of world Capital transfers paid to rest of world (million euros) Acq. less disposals of non-prod. assets (million euros) National net lending or net borrowing National net lending or net borrowing (million euros) National net lending or net borrowing Total financial transactions in assets (million euros) National net lending or net borrowing Total financial transactions liabilities (million euros)
1995 329,547 -1,926 46,006 1,176 42,761 2,069 47,932 1,698 44,620 1,614 327,621 52,442 275,179 -6,264 4,552 1,070 419 36 3,027 10,816 909 431 666 8,810 268,915 236,115 -23 32,777 16,530 2,633 13,614 21,827 19,626 2,201 -1,926 46,006 47,932 -6,264 4,552 10,816 -23 -923 576 1,499 0 12,691 104,185 89,286
1996 344,625 -52 51,376 1,220 48,425 1,731 51,428 1,664 48,218 1,546 344,573 54,428 290,145 -6,650 4,890 1,096 431 42 3,321 11,540 970 436 691 9,443 283,495 246,044 -18 37,433 19,912 3,412 14,109 20,829 18,233 2,596 -52 51,376 51,428 -6,650 4,890 11,540 -18 -1,330 884 2,214 0 12,779 126,276 113,979
1997 369,046 -1,340 61,405 1,295 58,436 1,674 62,745 1,829 59,210 1,706 367,706 56,672 311,034 -7,108 5,544 1,404 475 47 3,618 12,652 1,086 461 738 10,367 303,926 261,203 -24 42,699 23,343 4,286 15,070 23,542 20,721 2,821 -1,340 61,405 62,745 -7,108 5,544 12,652 -24 -1,108 816 1,924 7 13,969 203,789 186,850
1998 394,295 -7,080 63,295 1,306 60,396 1,593 70,375 2,057 66,689 1,629 387,215 59,572 327,643 -6,659 5,663 1,623 546 46 3,448 12,322 1,142 493 769 9,918 320,984 279,664 -38 41,282 26,566 4,328 10,388 24,165 22,586 1,579 -7,080 63,295 70,375 -6,659 5,663 12,322 -38 -685 880 1,565 26 9,729 211,185 200,685
1999 419,459 -1,944 75,936 1,135 73,242 1,559 77,880 1,777 74,457 1,646 417,515 63,554 353,961 -6,758 6,059 2,129 619 54 3,257 12,817 1,134 508 812 10,363 347,203 299,389 -51 47,763 32,576 1,255 13,932 22,685 22,565 120 -1,944 75,936 77,880 -6,758 6,059 12,817 -51 -790 1,118 1,908 12 13,154 290,801 278,356
2000 452,007 -2,703 126,848 1,209 124,014 1,625 129,551 1,984 125,970 1,597 449,304 69,130 380,174 -9,038 7,550 1,719 663 64 5,104 16,588 1,330 539 882 13,837 371,136 320,406 -33 50,697 32,726 163 17,808 29,582 29,103 479 -2,703 126,848 129,551 -9,038 7,550 16,588 -33 -795 1,445 2,240 -4 17,009 256,297 238,805
2001 481,881 -12,382 114,747 1,289 112,141 1,317 127,129 2,020 123,602 1,507 469,499 74,670 394,829 -8,533 6,568 1,862 648 200 3,858 15,101 1,278 535 1,014 12,274 386,296 340,804 -25 45,467 32,036 2,769 10,662 31,602 32,146 -544 -12,382 114,747 127,129 -8,533 6,568 15,101 -25 48 1,207 1,159 22 10,732 337,408 324,363
2002 501,137 -14,163 100,743 1,246 98,050 1,447 114,906 2,195 111,346 1,365 486,974 79,534 407,440 -8,324 5,999 1,833 679 217 3,270 14,323 1,213 541 1,117 11,452 399,116 361,580 -42 37,494 26,123 -375 11,746 34,275 36,061 -1,786 -14,163 100,743 114,906 -8,324 5,999 14,323 -42 162 967 805 0 11,908 320,955 308,982
2003 512,810 -6,823 104,192 1,130 101,434 1,628 111,015 2,512 107,095 1,408 505,987 82,760 423,227 -8,220 6,193 1,910 799 207 3,277 14,413 1,393 490 1,269 11,261 415,007 373,652 -45 41,310 22,876 -571 19,005 34,093 36,800 -2,707 -6,823 104,192 111,015 -8,220 6,193 14,413 -45 233 1,261 1,028 16 19,254 296,093 273,599
2004 529,286 -7,863 128,673 1,132 125,849 1,692 136,536 2,838 132,119 1,579 521,423 85,625 435,798 -9,097 6,856 2,175 936 218 3,527 15,953 1,590 418 1,363 12,582 426,701 380,762 -38 45,901 21,779 154 23,968 40,966 42,317 -1,351 -7,863 128,673 136,536 -9,097 6,856 15,953 -38 316 1,272 956 41 24,325 278,350 257,015
2005 550,883 -9,509 160,722 1,099 158,003 1,620 170,231 2,962 165,586 1,683 541,374 88,591 452,783 -10,324 7,436 2,610 952 230 3,644 17,760 1,873 403 1,574 13,910 442,459 391,614 -11 50,834 23,863 224 26,747 46,591 47,791 -1,200 -9,509 160,722 170,231 -10,324 7,436 17,760 -11 235 1,440 1,205 18 27,000 347,263 316,419
2006 584,546 -4,172 189,177 1,072 186,198 1,907 193,349 3,747 187,817 1,785 580,374 92,481 487,893 -11,295 8,301 3,173 1,338 242 3,548 19,596 2,153 405 1,617 15,421 476,598 411,440 33 65,191 30,513 -101 34,779 50,213 50,699 -486 -4,172 189,177 193,349 -11,295 8,301 19,596 33 -157 1,329 1,486 -906 33,716 660,797 628,720
2007 619,170 -6,916 245,621 1,050 243,260 1,311 252,537 6,922 243,591 2,024 612,254 97,227 515,027 -10,611 9,835 4,564 1,905 234 3,132 20,446 2,715 403 1,748 15,580 504,416 430,679 65 73,802 46,999 347 26,456 43,918 52,954 -9,036 -6,916 245,621 252,537 -10,611 9,835 20,446 65 -499 708 1,207 4,086 30,043 693,809 666,227
2008 647,198 -31,290 205,149 1,039 202,614 1,496 236,439 8,701 225,561 2,177 615,908 102,612 513,296 -9,441 11,191 4,973 2,353 248 3,617 20,632 2,624 392 2,150 15,466 503,855 447,484 48 56,419 40,529 1,384 14,506 55,189 52,201 2,988 -31,290 205,149 236,439 -9,441 11,191 20,632 48 -708 643 1,351 -864 12,934 124,823 111,742
2009 624,842 -23,640 174,107 1,153 171,568 1,386 197,747 9,202 186,725 1,820 601,202 106,530 494,672 -6,249 10,873 4,469 2,557 248 3,599 17,122 2,068 393 2,629 12,032 488,423 447,976 41 40,488 26,598 -3,653 17,543 47,391 47,422 -31 -23,640 174,107 197,747 -6,249 10,873 17,122 41 -820 954 1,774 -283 16,440 110,855 97,753
2010 639,187 -5,671 227,771 1,211 225,261 1,299 233,442 8,635 222,839 1,968 633,516 109,791 523,725 -8,689 11,316 4,427 2,488 248 4,153 20,005 2,741 386 2,548 14,330 515,036 458,253 121 56,904 16,107 3,356 37,441 51,680 50,414 1,266 -5,671 227,771 233,442 -8,689 11,316 20,005 121 -1,966 887 2,853 -822 34,653 205,710 171,828
2011 650,359 -2,181 244,464 1,366 241,647 1,451 246,645 9,190 235,269 2,186 648,178 110,021 538,157 -8,619 11,937 4,575 2,582 248 4,532 20,556 3,083 398 2,543 14,532 529,538 464,525 178 65,191 20,944 -635 44,882 55,504 54,983 521 -2,181 244,464 246,645 -8,619 11,937 20,556 178 -577 774 1,351 -379 43,926 401,924 358,843
2012 652,966 -7,270 232,810 1,464 229,965 1,381 240,080 9,140 228,893 2,047 645,696 111,232 534,464 -8,020 12,470 4,818 2,665 248 4,739 20,490 3,220 407 2,691 14,172 526,444 467,112 147 59,479 11,273 -239 48,445 63,588 60,738 2,850 -7,270 232,810 240,080 -8,020 12,470 20,490 147 -254 827 1,081 -10,487 37,704 219,733 185,074
2013 660,463 -4,711 238,828 1,564 235,721 1,543 243,539 8,769 232,761 2,009 655,752 113,167 542,585 -9,960 12,538 4,765 2,628 250 4,895 22,498 3,283 415 2,671 16,129 532,625 470,767 77 61,935 8,070 1,015 52,850 67,444 64,563 2,881 -4,711 238,828 243,539 -9,960 12,538 22,498 77 -531 792 1,323 -1,103 51,216 288,577 241,195
2014 671,560 -6,776 269,281 1,766 266,236 1,279 276,057 8,420 265,221 2,416 664,784 114,366 550,418 -9,063 13,581 5,486 3,264 253 4,578 22,644 3,542 433 2,493 16,176 541,355 476,709 71 64,717 3,772 2,156 58,789 74,557 63,927 10,630 -6,776 269,281 276,057 -9,063 13,581 22,644 71 -493 692 1,185 -851 57,445 254,412 198,403
2015 690,008 -7,030 262,392 1,903 258,891 1,598 269,422 8,591 257,714 3,117 682,978 115,742 567,236 -8,997 14,121 5,425 3,211 270 5,215 23,118 3,913 445 2,769 15,991 558,239 483,170 173 75,242 36,791 2,546 35,905 51,759 65,447 -13,688 -7,030 262,392 269,422 -8,997 14,121 23,118 173 -297 1,097 1,394 -3,084 32,524 372,529 338,170
2016 708,337 -17,190 260,659 1,796 257,436 1,427 277,849 8,841 265,910 3,098 691,147 117,912 573,235 -4,959 13,195 5,484 3,239 240 4,232 18,154 3,673 435 2,783 11,263 568,276 490,883 206 77,599 23,763 3,446 50,390 72,333 65,703 6,630 -17,190 260,659 277,849 -4,959 13,195 18,154 206 -1,020 1,023 2,043 -157 49,213 392,820 342,401
2017 738,146 -8,484 263,492 1,825 260,170 1,497 271,976 9,347 259,490 3,139 729,662 121,452 608,210 -5,325 13,354 5,767 3,433 240 3,914 18,679 4,076 447 2,909 11,247 602,885 506,752 248 96,381 27,218 3,334 65,829 79,390 71,944 7,446 -8,484 263,492 271,976 -5,325 13,354 18,679 248 -346 998 1,344 22 65,505 234,896 172,227
2018 773,987 -2,917 303,988 1,933 300,547 1,508 306,905 10,296 293,242 3,367 771,070 127,456 643,614 -6,758 14,598 6,756 3,635 240 3,967 21,356 4,270 459 3,005 13,622 636,856 530,171 200 106,885 30,637 4,116 72,132 81,607 71,611 9,996 -2,917 303,988 306,905 -6,758 14,598 21,356 200 -244 1,066 1,310 -270 71,618 -216,506 -292,078
2019 813,055 -16,539 272,824 1,857 269,350 1,617 289,363 11,919 273,860 3,584 796,516 133,227 663,289 -7,165 16,299 7,855 4,021 240 4,183 23,464 5,519 452 2,979 14,514 656,124 553,681 244 102,687 39,581 6,848 56,258 79,718 60,104 19,614 -16,539 272,824 289,363 -7,165 16,299 23,464 244 -414 1,123 1,537 11 55,855 113,302 55,512
2020 796,530 -26,035 209,001 1,759 205,552 1,690 235,036 11,719 219,793 3,524 770,495 139,375 631,120 -13,458 15,868 6,376 3,979 240 5,273 29,326 5,088 460 3,011 20,767 617,662 543,029 246 74,879 33,562 360 40,957 80,204 61,718 18,486 -26,035 209,001 235,036 -13,458 15,868 29,326 246 -195 1,100 1,295 142 40,904 -207,621 -243,727
2021* 856,356 -19,200 247,109 1,882 243,510 1,717 266,309 12,472 249,846 3,991 837,156 146,496 690,660 -7,393 16,446 6,686 4,110 240 5,410 23,839 4,348 462 3,056 15,973 683,267 584,774 240 98,733 38,117 -892 61,508 87,861 62,575 25,286 -19,200 247,109 266,309 -7,393 16,446 23,839 240 -1 1,042 1,043 601 62,108 48,018 -11,208
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.

Data available from: 1995.

Status of the figures:
Data from 1995 up to and including 2020 are final. Data of 2021 are provisional.

Adjustments as of September 23rd 2022:
The method for calculating the profits received from and paid to the rest of the world for non-financial corporations has been improved. This impacts several balancing items. As part of these profits pass through financial holdings, paid profits by financial institutions are also changed.

When will new figures be published?
Provisional data are published 6 months after the end of the reporting year. Final data are released 18 months after the end of the reporting year.

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.