GDP, output and expenditures; changes, Quarterly National Accounts

GDP, output and expenditures; changes, Quarterly National Accounts

Type of data Periods Expenditure approach to GDP Disposable for final expenditure Gross domestic product (%) Production approach to GDP Gross domestic product (%) Production approach to GDP GDP, working days adjusted (%) Production approach to GDP Value added basic prices A-F Agriculture and industry B-E Industry (no construction), energy C Manufacturing 13-15 Man. of textile-, leather products (%) Production approach to GDP Value added basic prices A-F Agriculture and industry B-E Industry (no construction), energy C Manufacturing 24-25 Man. of basic metals and -products (%) Production approach to GDP Taxes and subsidies on products Taxes less subsidies on products (%) Production approach to GDP Taxes and subsidies on products Taxes on products (%) Production approach to GDP Taxes and subsidies on products Subsidies on products (%) Income approach to GDP Taxes and subsidies on production Taxes less subsidies (%) Income approach to GDP Taxes and subsidies on production Taxes on production and imports (%) Income approach to GDP Taxes and subsidies on production Subsidies on production and imports (%) Income approach to GDP Net domestic product market prices (%)
Volume, on corresponding period (y/y) 2021 3rd quarter* 5.2 5.2 5.2 3.9 11.1 0.5 1.1 30.0 0.2 1.3 3.7 6.0
Volume, on previous period (q/q) 2021 3rd quarter* 2.1 2.1 . . . . . . . . . .
Value, on corresponding period (y/y) 2021 3rd quarter* 8.4 8.4 . 0.7 6.5 8.0 8.8 46.5 23.3 8.0 -25.0 9.3
Value, on previous period (q/q) 2021 3rd quarter* 4.0 4.0 . . . . . . 12.9 4.2 -19.6 .
Price, on corresponding period (y/y) 2021 3rd quarter* 3.0 3.0 . -3.1 -4.1 7.5 7.6 12.7 23.0 6.6 -27.7 3.1
Source: CBS.
Explanation of symbols

Table description


This table provides quarterly and annual data on production, expenditures, income and external economic transactions of The Netherlands.

Data available from 1995.

Status of the figures:
Annual data of the period 1995-2019 are final. Quarterly data of 2019, 2020 and 2021 are provisional.

Changes as of December 24th 2021:
Data of the final estimate of 2021q3 have been added to this table.

Adjustments as of August 17th 2021:
The next adjustments were made in this version:
- The base year of chained volume data of seven time series of the group ‘National net lending or net borrowing’ was shifted from 2010 to 2015. This leads to changes in value, volume changes and prices of these time series.
- Some small rounding changes were made in the time series ‘Total final expenditure’ and ‘Changes in inventories’.

When will new figures be published?
The preliminary estimate (flash estimate) of a quarter is released within 45 days. The second estimate is published after 85 days. At the second estimate of the fourth quarter, data of the previous three quarters will also be revised. If (new) annual figures become available in June, the quarterly figures will be revised again to bring them in line with the annual figures.

Description topics

Expenditure approach to GDP
The way GDP is formed by underlying components in the so-called expenditure approach. In this approach the components are consumption by households, consumption by the general government, gross fixed capital formation, changes in inventories and exports, minus imports. Changes in inventories are included for consistency with the production approach. From the 2010 edition of the European System of Accounts onwards these changes are added to fixed capital formation. Consumption, fixed capital formation and changes in inventories add up to the so-called national final expenditure. By adding exports final expenditure is obtained. Intermediate consumption, goods and services used upon production, is not part of final expenditure.
Disposable for final expenditure
The total amount of domestic generated goods and services (GDP) and the imported goods and services are adding up to the disposable for final expenditure. This variable is by definition equal to the total final expenditure, which is the sum of the National final expenditure and the exports of goods and services.
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.
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.
A-F Agriculture and industry
This category is made up of the categories:
A Agriculture, forestry and fishing
B Mining and quarrying
C Manufacturing
D Electricity, gas, steam and air conditioning supply
E Water supply; sewerage, waste management and remediation activities
F Construction
B-E Industry (no construction), energy
This category is made up of the categories:
B Mining and quarrying
C Manufacturing
D Electricity, gas, steam and air conditioning supply
E Water supply; sewerage, waste management and remediation activities
C Manufacturing
Manufacturing
13-15 Man. of textile-, leather products
Manufacture of textiles and textile products and of leather and leather products
This category is made up of the categories:
13 Manufacture of textiles
14 Manufacture of wearing apparel
15 Manufacture of leather, products of leather and footwear
24-25 Man. of basic metals and -products
Manufacture of basic metals and fabricated metal products
This category is made up of the categories:
24 Manufacture of basic metals
25 Manufacture of fabricated metal products, except machinery and equipment
Taxes and subsidies on products
Taxes on products are related to the value or the volume of products. They are levied on domestically produced or trans acted products and on imported products. Taxes on products are classified into taxes on domestic products, taxes on imports and VAT.
Subsidies on products are related to the value or the volume of products. They can be distinguished between subsidies on domestic products and subsidies on imports.
Taxes less subsidies on products
Taxes on products less subsidies on products.
Taxes on products
Taxes that are payable per unit of a given good or service produced or imported. The tax may be a specific amount of money per unit of quantity of a good or service, or it may be calculated as a specified percentage of the price per unit or value of the goods and services produced or traded.
Subsidies on products
Subsidies payable per unit of a good or service produced or imported. The amount of subsidies is related to the value or amount of product.
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.
GDP, working days adjusted
Growth of the gross domestic products,. adjusted for working days effects. The number of working days in corresponding quarters of successive years may differ due to a leap day, due to an unequal number of holidays that take place in a weekend (e.g. New Year's Day) or because of a holiday shift from one quarter to another (e.g. Easter Monday). The effect of an additional working day on the economic growth adds up to 0.2 to 0.3 percentage points.
Income approach to GDP
The way GDP is formed by underlying components in the so-called income approach. In this approach the components are the incomes generated from production activities: compensation of employees and operating surplus / mixed income. To remain consistent with GDP at market prices, taxes less subsidies on production and imports (not necessarily product-related) are added.
Taxes and subsidies on production
Taxes and subsidies on production and imports.
Taxes less subsidies
Taxes less subsidies on production and imports, not necessarily product-related. This figures is needed to make GDP calculated by the income approach equal to GDP calculated by the production approach and the expenditure approach, GDP at market prices.
Taxes on production and imports
Taxes on production and imports are compulsory payments to the government and the European Union (EU), which are related to production, imports and to the use of production factors. Taxes on production and imports are classified into taxes on products and other taxes on production.
Subsidies on production and imports
Current payments from the Dutch government or the European Union to producers with the objective to influence output prices, employment or the remuneration of production factors. Subsidies are distinguished between subsidies on products and other subsidies on production.
Net domestic product market prices
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.