Quarterly national accounts; changes 1988 -q1 2014

Table explanation

Description topics

Production approach to GDP

The composition of GDP from the value added of all economic activities is
provided in this part.
Gross domestic product at market prices (GDP) is calculated as follows:
total value added at basic prices of industries
plus: balance of taxes and subsidies on products
plus:
VAT, taxes on imports, subsidies on re-exports cannot be attributed to
individual industries. Therefore, GDP at market prices cannot be broken
down completely by industry.

Gross value added at basic prices

Gross value added at basic prices of all economic activities.
Value added at basic prices by industry is equal to the difference between
output (basic prices) and intermediate consumption (purchaser prices).
Economic activities are classified conform the standard industrial
classification 2008 (NACE Rev. 2)used by the National Accounts.

Producers of commercial services

Gross value added at basic prices of producers of commercial services.
The commercial services producers contains the trade, repair, hotels and
restaurants, the transport, storage, post and telecommunication and the
financial and business activities.
This category is made up of the categories:
G Wholesale and retail trade; repair of motor vehicles and motorcycles
H Transportation and storage
I Accommodation and food service activities
J Information and communication
K Financial institutions
L Renting, buying and selling of real estate
M Consultancy, research and other specialised business services
N Renting and leasing of tangible goods and other business support
services

L Renting, buying, selling real estate

L Renting, buying and selling of real estate

National net lending or net borrowing

This part of the table shows two approaches to the national net
lending or net borrowing.
The national net lending or borrowing shows the amount a country can
lend or has to borrow, given the current and capital transactions in the
national accounts. There are two approaches to this variable:
I. The approach through the surplus of national income
Scheme:
Gross domestic product (market prices)
Primary incomes received from the rest of the world (+)
Primary incomes paid to the rest of the world (-)
= Gross national income (market prices)
Current transfers received from the rest of the world (+)
Current transfers paid to the rest of the world (-)
= Gross disposable national income
Final consumption expenditure (-)
Adjustment for net equity in pension funds reserves (+)
=Gross national saving
Fixed capital formation incl. change in inventories (-)
=Surplus of the Nation on income
=Surplus of the Nation on current transactions with the rest of the world
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing
II. The approach through the surplus of the nation on current transactions
with the rest of the world.
Scheme:
Net exports, the difference between exports and imports of
goods and services (+)
Net primary income from the rest of the world (+)
Net current transfers from the rest of the world (+)
=Surplus of the Nation on current transactions with the rest of the world
=Surplus of the Nation on income
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing

Surplus of the nation on income approach

The approach of net lending or net borrowing through the surplus of
national income. Scheme:
Gross domestic product (market prices)
Primary incomes received from the rest of the world (+)
Primary incomes paid to the rest of the world (-)
= Gross national income (market prices)
Current transfers received from the rest of the world (+)
Current transfers paid to the rest of the world (-)
= Gross disposable national income
Final consumption expenditure (-)
Adjustment for net equity in pension funds reserves (+)
=Gross national saving
Fixed capital formation incl. change in inventories (-)
=Surplus of the Nation on income
=Surplus of the Nation on current transactions with the rest of the world
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing.

Adjustment for equity pension funds

Adjustment for net equity in pension funds reserves
Since households are treated in the financial accounts as owners of the
pension funds reserves an adjustment item is necessary to ensure that any
excess of contributions to pension schemes over pension benefits does not
affect household savings:
minus:
=
This adjustment is also made for the claims of non-residents on the
reserves of Dutch insurance companies.

Surplus on current transactions approach

The approach through the surplus of the nation on current transactions
with the rest of the world.
Scheme:
Net exports, the difference between exports and imports of
goods and services (+)
Net primary income from the rest of the world (+)
Net current transfers from the rest of the world (+)
=Surplus of the Nation on current transactions with the rest of the world
=Surplus of the Nation on income
Capital transfers received from the rest of the world (+)
Capital transfers paid to the rest of the world (-)
= National net lending and borrowing

Adjustment for equity pension funds

Adjustment for net equity in pension funds reserves
Since households are treated in the financial accounts as owners of the
pension funds reserves an adjustment item is necessary to ensure that any
excess of contributions to pension schemes over pension benefits does not
affect household savings:
minus:
=
This adjustment is also made for the claims of non-residents on the
reserves of Dutch insurance companies.