Production process; economic activity, region, National Accounts

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Description topics

Value added from the output

Output (basic prices)

Output covers the value of all goods produced for sale, including unsold goods, and all receipts for services rendered. Output furthermore covers the market equivalent of goods and services produced for own use, such as own account capital formation, services of owner-occupied dwellings and agricultural products produced by farmers for own consumption. The output of such goods is estimated by valuing the quantities produced against the price that the producer would have received if these goods had been sold. Output is valued at basic prices, defined as the price received by the producer excluding trade and transport margins and the balance of taxesand subsidies on products. This is the price the producer is ultimately left with.

Intermediate consumption

Intermediate consumption includes all goods and services used up in the production process in the accounting period, regardless the date of purchase. This includes for example fuel, raw materials, semi manufactured goods, communication services, cleansing services and audits by accountants. Intermediate consumption is valued at purchasers' prices, excluding deductible VAT. For companies which do not need to charge VAT on their sales, the VAT paid by their purchases is non-deductible. It is therefore recorded as a component of intermediate consumption.

Gross value added

Value added at basic prices by industry is equal to the difference between output (basic prices) and intermediate consumption (purchasers' prices).

Value added from generation of income

Compensation of employees

Compensation of employees is the total renumeration paid by employers to their employees in return for work done. Employees are all residents and non-residents working in a paid job. Managing directors of limited companies are considered to be employees;
therefore their salaries are also included in the compensation of employees. The same holds for people working in sheltered workshops. Compensation of employees is distinguished between wages and salaries and employers' social contributions.

Gross operating surplus

The gross operating surplus by industry is the balance that remains after deducting from the value added (basic prices) the compensation of employees and the balance of not product-related taxes and not product-related subsidies on production. The operating surplus of family enterprises is called mixed income, because it also contains compensation for work by the owners and their family members. On the level of the total economy operating surplus is computed by adding to the total of the industries the difference imputed and paid VAT.

Taxes, not product-related

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

Subsidies, not product-related (-)

Subsidies on production paid to producers, not related to the value or volume of products domestically produced or transacted. These are mainly wage subsidies.

Labour input

Total labour input

Labour input of all employed persons (employees and self-employed) during an accounting period expressed in full-time equivalent jobs (fte). For the total labour input part-time jobs are converted to full-time jobs.

Employed persons include all persons carrying out a remunerated activity, including persons who only work one hour a week. In addition, it also covers:
- hidden and underground activities where the transactions themselves are not against the law, but are unreported to avoid official scrutiny;
- persons paid out but temporarily not working, for instance due to illness/injury or suspension of work caused by bad weather;
- persons not paid out who are temporary absent.

Labour input of employees

Labour input of employees during an accounting period expressed in full-time equivalent jobs. Part-time jobs are converted to full-time jobs. Employees are defined as persons who, by agreement, work for a resident institutional unit and receive a remuneration (wages and/or salaries in kind) recorded as compensation of employees.