GDP, output and expenditures; value, Quarterly National Accounts

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Description topics

Production approach to GDP

The way GDP is formed by underlying components in the so-called production approach. In this approach GDP equals the sum of value added over all branches (including non-commercial ones). Value added is thereby registered at basic prices. GDP at market prices is obtained by adding taxes less subsidies on production and the difference between imputed and paid VAT. The included taxes and subsidies apply both to produced and imported goods and services. Examples of these are VAT and taxes on import.

Value added basic prices

The value of all goods and services produced (production value or output), minus those that have been intermediately used upon production (intermediate consumption). Value added is rated at basic prices: purchaser's prices minus trade and transport margins and taxes on products paid and plus subsidies on products received. Intermediate consumption is rated at purchaser's prices minus non-deductible VAT.
Included is the output by all kind-of-activity units residing in the Netherlands, also those that are held by foreign owners.
Net value added can be obtained by deducting consumption of fixed capital from gross value added.

O-U Non-commercial services

Non-commercial services
This category is made up of the categories:
O Public administration, public services and compulsory social security
P Education
Q 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 organizations

O-Q Government and care

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

O-P Government and education

Government and education
This category is made up of the categories:
O Public administration, public services and compulsory social security
P Education

Total

O Public administration and services

Public administration, public services and compulsory social security

P Education

Education

National net lending or net borrowing

The calculation of the national net lending or net borrowing starting with gross domestic product (GDP). The national financing balance (net lending or net borrowing) is the balance of resources and expenditure on the current account and the capital account of the joint domestic sectors. In the financial account the balance gives the amount new loans are entered into with financial assets abroad and/or are sold (at a deficit) or for any amount to be repaid debts abroad and/or financial assets are purchased (at a surplus). In theory net lending or borrowing equals the change in assets less liabilities. In practice a statistical difference between the two remains.

Surplus of the nation on income approach

The approach of net lending or net borrowing through the surplus of national income.

Net primary income from rest of world

Received primary incomes from the rest of the world less provided 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 she 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.

Primary income paid to rest of world

Compensation of employees, property income and (EU) subsidies paid to the rest of the world.

Surplus on current transactions approach

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.

Net primary income from rest of world

Received primary incomes from the rest of the world less provided 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 she moved in. Students are an exception to this rule. They are always considered residents in the country they lived in before commencing their study.