Reference metadata describe statistical concepts and methodologies used for the collection and generation of data. They provide information on data quality and, since they are strongly content-oriented, assist users in interpreting the data. Reference metadata, unlike structural metadata, can be decoupled from the data.
National accounts data concern all data produced and disseminated for an economy according to the definitions and guidelines of the European System of Accounts (ESA 2010).
National accounts provide data for the total economy, but may also include breakdowns of the total economy (into sectors, industries, products, regions, etc.). National accounts provide data for several domains: annual and quarterly national accounts (main aggregates), sector accounts, financial accounts, supply and use and input-output tables, regional accounts and government finance statistics.
One of the main aggregates of national accounts is the change rate of the price-adjusted gross domestic product (GDP), which indicates the economic development of a country of region and is also referred to as economic growth rate.
In Eurobase, countries' data are presented following the usual data structure.
At national level, data are available for:
- annual and quarterly national accounts: 'main aggregates'
- annual and quarterly sector accounts
- annual financial accounts and balance sheets
- annual non-financial balance sheets
- supply and use and input-output tables
- annual and quarterly government finance statistics data: 'main aggregates', quarterly financial government accounts and government debt
- regional breakdowns of main national accounts variables
- industry breakdowns of main national accounts variables
- industry by asset breakdowns (stocks and transactions)
- detailed data on taxes, social contributions and government expenditure by function
- pension entitlements in social insurance
3.2. Classification system
The ESA 2010 provides a methodology on common standards, definitions, internationally harmonised classifications and accounting rules that are used for compiling national accounts on comparable bases.
The ESA 2010 defines classifications to be used for: institutional sectors, transactions in products, transactions in non-financial non-produced assets, distributive transactions, transactions in financial assets and liabilities, other changes in assets, balancing and net worth items, balance sheet entries, non-financial assets, financial assets and liabilities.
In addition, for several breakdowns ESA 2010 makes use of other classifications: NACE Rev. 2 for economic activities, CPA 2014 for products by economic activities, COFOG for the functions of government, COICOP for individual consumption by purpose, COPNI for classification of the purposes of non-profit institutions serving households, NUTS 2013 for regional breakdowns, Combined Nomenclature (CN), List of Products of the European Community (PRODCOM List), ESA: Classification of transactions and other flows 2010.
A full overview of classifications is available in:
National accounts describe the total economy of a country. All units that have their centre of predominant economic interest in the economic territory of that country are covered.
In addition, several breakdowns of the total are described. Two of the most important breakdowns are the breakdown by institutional sector and the breakdown by NACE Rev. 2 activity. Exhaustiveness is required for each of the breakdown items.
Concerning the institutional sector breakdown, ESA 2010 distinguishes five mutually exclusive domestic institutional sectors: (a) non-financial corporations; (b) financial corporations; (c) general government; (d) households; (e) non-profit institutions serving households. The five sectors together make up the total domestic economy. Each sector is also divided into subsectors.
Regarding the activity breakdown, ESA 2010 applies NACE Rev.2. Activities can be broken down into several levels of detail, for example into 3, 10, 21, 38, 64 or 88 activities. At the 'highest' level a breakdown into 3 categories is defined: (a) agriculture, forestry and fishing; (b) mining and quarrying, manufacturing, electricity gas steam and air conditioning supply, water supply, sewerage, waste management and remediation activities, construction; (c) services.
3.4. Statistical concepts and definitions
All statistical concepts and definitions to be used in national accounts are described in Annex A of the ESA 2010 Regulation (link to blue book on ESA2010 methodology). The two main sets of tables concern: (a) the institutional sector accounts; (b) the input-output framework, and the accounts by industry.
The sector accounts provide, by institutional sector, a systematic description of the different stages of the economic process: production, generation of income, distribution of income, redistribution of income, use of income and financial and nonfinancial accumulation. The sector accounts also include balance sheets to describe the stocks of assets, liabilities and net worth at the beginning and the end of the accounting period. The variables/concepts described in the sector accounts include transactions in products, transactions in non-produced non-financial assets, distributive transactions, transactions in financial assets and liabilities, other changes in assets, non-financial and financial assets and liabilities.
The input-output framework, through the supply and use tables, sets out in more detail the production process (cost structure, income generated and employment) and the flows of goods and services (output, imports, exports, final consumption, intermediate consumption and capital formation by product group). These variables are broken down by industry (NACE Rev. 2) and product (CPA 2014).
ESA 2010 also encompasses concepts of population and employment. Such concepts are relevant for the sector accounts, the accounts by industry and the supply and use framework.
Regional accounts provide regional breakdowns for major aggregates such as gross value added by industry, gross fixed capital formation and household income. Regional breakdowns are based on the NUTS classification. National accounts concepts are also used for regional accounts.
In addition Annex A of the ESA 2010 Regulation addresses and defines numerous other concepts and definitions, such as the definition of: statistical units and their groupings, flows and stocks, accounting rules (valuation, time of recording, consolidation and netting). The main features and principles for the compilation of national accounts can be found in Chapter 1.
3.5. Statistical unit
Following the ESA 2010 guidelines, in national accounts two types of units and two corresponding ways of subdividing the economy are used: (a) institutional unit; (b) local kind-of-activity unit (local KAU). The first type is used for describing income, expenditure and financial flows as well as balance sheets. The second type of units is used for the description of production processes, for input-output analysis and for regional analysis.
An institutional unit is an economic entity characterised by decision-making autonomy in the exercise of its principal function. A resident unit is regarded as constituting an institutional unit in the economic territory where it has its centre of predominant economic interest if it has decision-making autonomy and either keeps a complete set of accounts, or is able to compile a complete set of accounts.
A local KAU groups all the parts of an institutional unit in its capacity as producer which are located in a single site or in closely located sites, and which contribute to the performance of an activity at the class level (four digits) of the NACE Rev. 2.
An institutional unit comprises one or more local KAUs; a local KAU belongs to one and only one institutional unit.
3.6. Statistical population
The national accounts population of a country consists of all resident statistical units (institutional units or local KAUs, see section 3.5). A unit is a resident unit of a country when it has a centre of predominant economic interest on the economic territory of that country, that is, when it engages for an extended period (one year or more) in economic activities on this territory.
National accounts are exhaustive. This means that all resident statistical units are covered.
3.7. Reference area
The reference area for national accounts is the total economy of a Estonia. The total economy of a country can be broken down into regions. The NUTS classification provides a single, uniform breakdown of the economic territory of the Member States of the EU.
3.8. Coverage - Time
National accounts data are compiled for years and quarters.
In general, the ESA 2010 transmission programme requires data starting in 1995 (years) and 1995Q1 (quarters) but some series start later. If backwards data exist, they may have been compiled according to earlier versions of ESA and can present conceptual breaks with those compiled under ESA2010.
For Estonia, quartely time series begin with the 1st quarter 1995. For annual national accounts and annual sector accounts, time series start from 1995. For regional GDP, the first period in the time series is 1996. For the SUT, time series begin with 2000. IOT are compiled every 5 years,eg for 2000, 2005, 2010, 2015.
3.9. Base period
The concept of 'base period' is not applied in national accounts. Instead, for some national accounts variables the concepts of previous year prices and chain-linked volumes are applied, as stipulated in Commission Decision 98/715/EC. Expressing variables at the prices of the previous year allows the calculation of volume indices between the current time period and the previous year. After a reference period is chosen as a benchmark, volume indices can be chain-linked and then applied to variables at current prices of the benchmark year. This generates volume estimates for any period of observation.
Estonia currently uses 2015 as reference year for the compilation of chain-linked volumes. The method to compile quarterly chain-linked volumes is the annual overlap method.
With the exception of some variables concerning population and labour that are usually expressed in number of persons, hours or jobs, the ESA 2010 system shows all flows and stocks in monetary terms: in euros or other national currency. Flows and stocks shall be measured according to their exchange value, i.e. the value at which flows and stocks are in fact, or could be, exchanged for cash. Market prices are, thus, the ESA's reference for valuation.
In addition to measurement in current (market) prices, some national accounts variables are also expressed in previous year's prices and chain-linked volumes, see section 3.9. Furthermore, it is possible to derive growth rates and indices, and various other measures '(e.g. percentages, per capita data, data expressed in purchasing power standards)' can be applied as well.
The usual reference period to be used for presenting national accounts data is the calendar year for annual data and the quarter for quarterly data.
Two basic kinds of information are recorded: flows and stocks. Flows refer to actions and effects of events that take place within a given period of time (year or quarter), while stocks refer to positions at a point of time (usually the beginning or end of a year or quarter).
6.1. Institutional Mandate - legal acts and other agreements
National accounts are compiled in accordance with the European System of Accounts (ESA 2010) which was published in the Official Journal as Annex A of Regulation (EU) No 549/2013. The ESA 2010 transmission programme is covered in Annex B
The ESA 2010 has the form of a Regulation and it provides for:
a methodology (Annex A) on common standards, definitions, classifications and accounting rules that shall be used for compiling accounts and tables on comparable bases (link to blue book on ESA 2010 methodology);
a programme of data transmission (Annex B) setting out the time limits by which Member States shall transmit to Eurostat the accounts and tables (link to ESA 2010 transmission programme).
Temporary derogations to the data transmission requirements have been granted to Member States, up to 2020, by the Commission Implementing Decision 2014/403/EU of 26 June 2014 thus allowing national data to deviate temporarily from the ESA 2010 transmission requirements.
Some other legal acts with relevance for national accounts concern:
- Commission Decision 98/715 of 30 November 1998 and Commission Decision 2002/990 of 17 December 2002 on measurement of price and volumes in national accounts.
- Legal act on the excessive deficit procedure
Several separate acts, often regarding classifications such as: NACE Rev.2, CPA 2014, COFOG, COICOP, NUTS 2013.
On the Eurostat website, sections 'National accounts' and 'Government finance and EDP', more legal acts relevant for national accounts can be found.
National accounts data are key datasets used and published by many international organisations to improve data consistency and exploit synergies for data collection and validation. An initiative to improve data sharing for National Accounts was launched in 2016 by the Inter-Agency Group on Economic and Financial Statistics (comprising representatives of the Bank for International Settlements, the European Central Bank, Eurostat, the IMF, the Organization for Economic Co-operation and Development, the United Nations, and the World Bank) under the G20 Data Gap Initiative.
In Estonia, all users have been granted equal access to official statistics.
7.1. Confidentiality - policy
Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society. The European Statistics Code of Practice provides further conditions that have to be respected by statistical offices in regard to statistical confidentiality (Principle 5).
The dissemination of data collected for the purpose of producing official statistics is guided by the requirements provided for in § 34 and § 35 of the Official Statistics Act.
7.2. Confidentiality - data treatment
In a statistical sense, ‘confidential data’ means data which allow statistical units to be identified, either directly or indirectly, thereby disclosing individual information. To determine whether a statistical unit is identifiable, account shall be taken of all relevant means that might reasonably be used by a third party to identify the statistical unit. Although national accounts data are usually highly aggregated, there may be possible cases for detailed breakdowns of aggregates and/or small economies. In these cases measures should be taken in order not to disclose data of a separate statistical unit. Guidance on how to prevent disclosure can be found in the Handbook on Statistical Disclosure Control.
The treatment of confidential data is regulated by the Procedure for Protection of Data Collected and Processed by Statistics Estonia: https://www.stat.ee/66485.
8.1. Release calendar
Good practice requires that new national accounts data and associated news releases are announced in a release calendar that is published well in advance of the respective releases.
Notifications about the dissemination of statistics are published in the release calendar, which is available on the website www.stat.ee. Every year on 1 October, the release times of the statistical database, news releases, main indicators by IMF SDDS and publications for the following year are announced in the release calendar (in the case of publications – the release month).
In line with the Community legal framework and the European Statistics Code of Practice (Principle 6 on impartiality and objectivity, Principle 13 on timeliness and punctuality and Principle 15 on accessibility and clarity), national accounts data that meet the quality standards, including relevant metadata, should be made available to users. Users should be informed when the data become available and how they can be accessed.
In Estonia, all users have been granted equal access to official statistics: dissemination dates of official statistics are announced in advance and no user category (incl. Eurostat, state authorities and mass media) is provided access to official statistics before other users. Official statistics are first published in the statistical database. If there is also a news release, it is published simultaneously with data in the statistical database. Official statistics are available on the website at 8:00 a.m. on the date announced in the release calendar.
For quarterly national accounts data frequency of dissemination is quarterly, for annual national accounts frequency of dissemination is annual.
10.1. Dissemination format - News release
The most important results of national accounts are issued in news releases. New key national accounts data may also be presented in press conferences or press briefings. The exact dates are pre-announced in release calendars (see section 8.1 above).
For quarterly national accounts the news release “Gross Domestic Product” is published once a quarter. For government finance statistics the news release “Debt of general government and deficit in the budget” once a year. For regionaal national accounts, the new release “Regiuonal Gross Domestic Product” is published once a year. The news releases can be viewed on the website at https://www.stat.ee/news-releases.
10.2. Dissemination format - Publications
Not published.
10.3. Dissemination format - online database
Data are published under the subject area „Economy / National accounts“ in the statistical database at http://pub.stat.ee.
For government finance statistics, data are published under the subject area “Economy / Finance” in the statistical database at http://pub.stat.ee.
The general methodological framework for the compilation of national accounts in the EU is ESA 2010.
In addition, several handbooks have been developed to help compilers to produce national accounts data. Some of the most important methodological manuals are the Handbook on quarterly national accounts, Manual on regional accounts methods, Eurostat Manual of Supply, Use and Input-Output Tables, Manual on Government Deficit and Debt. Also, guidance manuals on specific topics are available, e.g. compilation guide on land estimation, compilation guide on inventories, Manual on measuring Research and Development in ESA 2010.
The manuals above specifically apply to EU national accounts statistics. However, world-wide equivalents are often also available: SNA 2008, Quarterly National Accounts Manual, Handbook on Input-Output Table Compilation and Analysis, Government Finance Statistics Manual.
According to Commission implementing Regulation (EU) 2016/2304, the quality report on data transmitted pursuant to Regulation (EU) No 549/2013 of the European Parliament and of the Council
11.1. Quality assurance
To assure the quality of processes and products, Statistics Estonia applies the EFQM Excellence Model, the European Statistics Code of Practice and the Quality Assurance Framework of the European Statistical System (ESS QAF). Statistics Estonia is also guided by the requirements in § 7. “Principles and quality criteria of producing official statistics” of the Official Statistics Act.
11.2. Quality management - assessment
Statistics Estonia performs all statistical activities according to an international model (Generic Statistical Business Process Model – GSBPM). According to the GSBPM, the final phase of statistical activities is overall evaluation using information gathered in each phase or sub-process; this information can take many forms, including feedback from users, process metadata, system metrics and suggestions from employees. This information is used to prepare the evaluation report which outlines all the quality problems related to the specific statistical activity and serves as input for improvement actions.
12.1. Relevance - User Needs
National accounts data provide key information for economic policy monitoring and decision making, for forecasting, for administrative purposes, for informing the general public about economic developments (directly or indirectly via news agencies), and as input for economic research.
At national level, Ministry of Finance, scientific and academic communities and economic researchers are the entities who most use national and regional accounts data.
Users’ suggestions and information about taking these into account are available on the website of Statistics Estonia at https://www.stat.ee/statistikatood.
12.2. Relevance - User Satisfaction
Since 1996, Statistics Estonia has conducted reputation and user satisfaction surveys.
In Estonia, national accounts are in compliance with the European System of Accounts 2010 (ESA 2010) methodology, eg national accounts cover the domains national accounts main aggregates, government accounts, sector accounts, regional accounts and supply and use tables.
13.1. Accuracy - overall
The accuracy of the national accounts depends on the quality of data of other statistical activities used as input. The accuracy of input data from statistical activities is monitored.
13.2. Sampling error
Not applicable.
13.3. Non-sampling error
Not applicable.
14.1. Timeliness
National accounts data become available to users as timely as possible, taking into account the frequency of the data (annual or quarterly), the character of the data (info on the structure of an economy or on conjuncture developments) and an adequate balance between accuracy and timeliness.
The ESA 2010 transmission programme defines the required timeliness for all national accounts tables. Quarterly tables become available 2 after the quarter-end.
For annual national accounts the data are published 270 days, 630 days and 1,350 days after the end of the reference year. 270 days after the end of the reference year (T + 270) the corrected quarterly and annual data are published. 630 days after the end of the reference year (T + 630) the annual data revised according to the Structural Business Survey (SBS; in Estonian EKOMAR) are published. 1,350 days after the end of the reference year (T + 1350) the annual data revised according to the supply and use tables are published.
For government finance statistics, the monthly data about taxes accrued in the state budget are published 20 days after the end of the reference month (T + 20), the monthly data about the state budget revenue and expenditure are published 45 days after the end of the reference month (T + 45), the quarterly data about taxes accrued in the local government budgets and state and local government budgets are published 45 days after the end of the reference quarter (T + 45).
Data on government revenue and expenditure, financial transactions and debts are published: The quarterly data 85 days after the end of the reference quarter (T + 85); Preliminary annual data 85 days after the end of the reference year (T + 85); The revised annual data 268 days after the end of the reference year (T + 268).The annual financial and non-financial accounts data by institutional sectors are published 270 days after the end of the reference year (T + 270). 630 days after the end of the reference period (T + 630) the published data are revised according to the Structural Business Survey (SBS; in Estonian EKOMAR). 1,350 days after the end of the reference period (T + 1350) the published data are revised according to the supply and use tables.
The quarterly financial and non-financial accounts data by general government and the rest of the world sectors are published 85 days after the end of the reference quarter (T + 85).
SUT and IOT data are published 1,080 days after the end of the reference year (T + 1080).
For pension satellite account, the data are published 24 months after the end of the reference year (T + 24 months).
For regional national accounts, the data are published 365 days after the end of the reference year (T + 365).
14.2. Punctuality
The dates on which national accounts data become available are pre-announced and the pre-announced publication dates are met.
15.1. Comparability - geographical
The geographical comparability of national accounts in Member States of the EU is ensured by the application of common definitions of the European System of Accounts ESA 2010). Worldwide geographical comparison is also possible as most non-European countries apply the SNA 2008 guidelines, and SNA 2008 is consistent with ESA 2010.
15.2. Comparability - over time
As the data for all reference periods are compiled according to the requirements of the ESA 2010, national accounts data are fully comparable over time. Also, in the case of fundamental changes to methods or classifications, revisions of long time series are performed, usually going far back into the past.
National accounts time series compiled according to a common methodology start from 1995.
The SUT for 2010 are compiled according to ESA95 and ESA 2010. From 2011 onwards the supply and use tables are compiled according to ESA 2010. The SUT compiled according to EMTAK 2008 (NACE Rev.2) and CPA 2008 are comparable over time from 2008 onwards. The SUT for 2000–2007 were compiled according to EMTAK 2003 (NACE Rev.1.1) and CPA 2002.
The IOT for the years 2000 and 2005 have been compiled according to CPA 2002. The IOT for the year 2010 have been compiled according to CPA 2008 and are not comparable with the IOT for 2000 and 2005. The IOT for the year 2010 have been compiled according to ESA95 and ESA 2010. The IOT for the year 2015 are compiled according to ESA 2010.
15.3. Coherence - cross domain
Within the system of national accounts there is full consistency between the domains: annual and quarterly national accounts, government accounts, sector accounts, financial accounts, regional accounts, supply and use tables. However, in practice full consistency may not always be possible and temporary discrepancies might occur. They are usually the result of vintage differences.
Primary statistics like structural business statistics (SBS), short term statistics (STS) and labour force statistics (LFS) are widely used as input for national accounts. However, there is no full consistency between these statistical domains and national accounts. Main reasons are differences in concepts/definitions and in coverage. Balance of payments is also used as an important source for national accounts. The definitions and coverage of balance of payments, as defined in the BPM6 manual, are fully harmonised with those in ESA 2010. Therefore, balance of payments variables are in principle fully coherent with the corresponding national accounts variables.
15.4. Coherence - internal
See section 15.3 (Coherence - cross domain).
Not available.
17.1. Data revision - policy
National accounts data are subject to continuous revisions as new input data become available. They are called routine revisions and entail regular revisions of country data and of the European aggregates, which are derived from the former.
More rarely, exceptional revisions (called benchmark revisions) will result from major changes in data sources, classifications or methodology. For example, when changing from ESA95 to ESA 2010, a benchmark revision occurred at country level and at euro area/EU data level.
Two Task Forces developed proposals for a more harmonised approach for benchmark and routine revisions. The one under the auspices of the Directors of Macroeconomic Statistics (DMES) dealt with benchmark revision policy, the other under the auspices of the Committee on Monetary, Financial, and Balance of Payments Statistics (CMFB) on the European Harmonised Revision Policy dealing with routine revisions.
The data revision policy and notification of corrections are described in the dissemination policy of Statistics Estonia at https://www.stat.ee/dissemination-policy.
The revision principles agreed between producers of official statistics on government finance, national accounts and external statistics, which are in line with the principles of the revision policy recommended by the European Commission and the European Central Bank, are published on the web site of Eesti Pank: http://statistika.eestipank.ee/failid/mbo/pohimotted_eng.html.
17.2. Data revision - practice
While revisions should be seen as a process to progressively improve the quality of national accounts as e.g. better sources and/or methods become available, the availability of metadata on revisions is a key element for understanding national accounts data and revisions between subsequent releases.
Therefore, information on the main reasons for revisions and their nature (new source data available, new methods, etc.) as well as possibly quantitative and qualitative assessment on the average size of revisions and their direction based on historical data is required.
The published data may be revised if the methodology is modified, errors are discovered, new or better data become available.
Every year, the data for the last 4 years are revised based on the supply and use tables and the Structural Business Survey. The results of regular revisions are published in August together with the GDP for the 2nd quarter.
When publishing the 1st quarter GDP, the 4th quarter GDP estimates are revised if necessary. When publishing the 3rd quarter GDP, the 2nd quarter GDP estimates are revised if necessary. When publishing the 4th quarter GDP, the estimates of the three previous quarters are revised if necessary.
Government finance statistics for the last four years are revised annually; the results are published in September.
18.1. Source data
National and regional accounts compilation builds up on statistics that are primarily collected for other purposes (primary statistics).
It relies on a variety of data sources, including administrative data:
Data on state budget and local government budgets by budget classification are received from the information system of governmental accounts of the Ministry of Finance.
The expenditure report of state pension insurance is received from the Social Insurance Board.
The expenditure report of health insurance is received from the Estonian Health Insurance Fund.
Information about buildings is received from the Estonian Register of Buildings.
Data on the following tax returns are received from the Estonian Tax and Customs Board: income tax return for a resident natural person (form A); business income of a resident natural person (form E); declaration of income and social tax, unemployment insurance premiums and contributions to mandatory funded pension (form TSD, annex 1, annex 4).
The following data are received from Eesti Pank: Balance of Payments, aggregated balance sheet and income statement of commercial banks, aggregated income statement of leasing companies.
There is no single survey source for national accounts. Sources provide statistical information on a large set of economic, social, financial and environmental phenomena, which are not strictly related to national accounts.
Inventories provided to Eurostat usually include information on main sources (see section 10.6). Further information on data sources can be found on the national website
National accounts are compiled on an annual and quarterly basis from other primary statistics. The frequency of data collection of primary statistics varies according to the nature of the data source. Business statistics are available on a quarterly and annual basis. Households' surveys are available on quarterly frequency . Availability of administrative data depends on the data source (monthly, quarterly and annual).
The frequency and timing of the compilation of national accounts are not necessary aligned with the frequency and timing of (all) primary statistics data collections.
18.3. Data collection
Administrative data are collected electronically. They are received via X-Road, an FTP server or by e-mail.
18.4. Data validation
Data validation refers to any activity aimed at verifying that the value of a data item comes from a given set of acceptable values. It is a key task performed in all statistical domains and particularly important for national accounts, which is a key dataset for economic analysis and policy decisions.
In order to increase overall data quality and workflow efficiency, the European Statistical System (ESS) is moving towards more harmonisation of validation activities including the definition of common standards, tools and support for implementation (see ESS validation website). National accounts are a pilot in this area. An ESA 2010 Task Force on validation was established in 2015 to agree and document validation rules in an ESA 2010 validation handbook and progressively implement them in a pre-validation service for national accounts data.
Arithmetic and qualitative controls are used in the validation process, including comparison with the data of previous periods and other surveys.
18.5. Data compilation
Data sources, methods and compilation techniques are country specific, but should be employed in such a way that the definitions and concepts in ESA 2010 are met. Many guidance documents on general and specific national accounts compilation issues are available. See for more details section 10.6.
Collected data are converted into statistical output. This includes calculation of additional indicators.
18.6. Adjustment
The QNA time series are seasonally and working day adjusted. Seasonal adjustments are made using Demetra+ software.
Not available.
National accounts data concern all data produced and disseminated for an economy according to the definitions and guidelines of the European System of Accounts (ESA 2010).
National accounts provide data for the total economy, but may also include breakdowns of the total economy (into sectors, industries, products, regions, etc.). National accounts provide data for several domains: annual and quarterly national accounts (main aggregates), sector accounts, financial accounts, supply and use and input-output tables, regional accounts and government finance statistics.
One of the main aggregates of national accounts is the change rate of the price-adjusted gross domestic product (GDP), which indicates the economic development of a country of region and is also referred to as economic growth rate.
In Eurobase, countries' data are presented following the usual data structure.
At national level, data are available for:
- annual and quarterly national accounts: 'main aggregates'
- annual and quarterly sector accounts
- annual financial accounts and balance sheets
- annual non-financial balance sheets
- supply and use and input-output tables
- annual and quarterly government finance statistics data: 'main aggregates', quarterly financial government accounts and government debt
- regional breakdowns of main national accounts variables
- industry breakdowns of main national accounts variables
- industry by asset breakdowns (stocks and transactions)
- detailed data on taxes, social contributions and government expenditure by function
- pension entitlements in social insurance
7 May 2019
All statistical concepts and definitions to be used in national accounts are described in Annex A of the ESA 2010 Regulation (link to blue book on ESA2010 methodology). The two main sets of tables concern: (a) the institutional sector accounts; (b) the input-output framework, and the accounts by industry.
The sector accounts provide, by institutional sector, a systematic description of the different stages of the economic process: production, generation of income, distribution of income, redistribution of income, use of income and financial and nonfinancial accumulation. The sector accounts also include balance sheets to describe the stocks of assets, liabilities and net worth at the beginning and the end of the accounting period. The variables/concepts described in the sector accounts include transactions in products, transactions in non-produced non-financial assets, distributive transactions, transactions in financial assets and liabilities, other changes in assets, non-financial and financial assets and liabilities.
The input-output framework, through the supply and use tables, sets out in more detail the production process (cost structure, income generated and employment) and the flows of goods and services (output, imports, exports, final consumption, intermediate consumption and capital formation by product group). These variables are broken down by industry (NACE Rev. 2) and product (CPA 2014).
ESA 2010 also encompasses concepts of population and employment. Such concepts are relevant for the sector accounts, the accounts by industry and the supply and use framework.
Regional accounts provide regional breakdowns for major aggregates such as gross value added by industry, gross fixed capital formation and household income. Regional breakdowns are based on the NUTS classification. National accounts concepts are also used for regional accounts.
In addition Annex A of the ESA 2010 Regulation addresses and defines numerous other concepts and definitions, such as the definition of: statistical units and their groupings, flows and stocks, accounting rules (valuation, time of recording, consolidation and netting). The main features and principles for the compilation of national accounts can be found in Chapter 1.
Following the ESA 2010 guidelines, in national accounts two types of units and two corresponding ways of subdividing the economy are used: (a) institutional unit; (b) local kind-of-activity unit (local KAU). The first type is used for describing income, expenditure and financial flows as well as balance sheets. The second type of units is used for the description of production processes, for input-output analysis and for regional analysis.
An institutional unit is an economic entity characterised by decision-making autonomy in the exercise of its principal function. A resident unit is regarded as constituting an institutional unit in the economic territory where it has its centre of predominant economic interest if it has decision-making autonomy and either keeps a complete set of accounts, or is able to compile a complete set of accounts.
A local KAU groups all the parts of an institutional unit in its capacity as producer which are located in a single site or in closely located sites, and which contribute to the performance of an activity at the class level (four digits) of the NACE Rev. 2.
An institutional unit comprises one or more local KAUs; a local KAU belongs to one and only one institutional unit.
The national accounts population of a country consists of all resident statistical units (institutional units or local KAUs, see section 3.5). A unit is a resident unit of a country when it has a centre of predominant economic interest on the economic territory of that country, that is, when it engages for an extended period (one year or more) in economic activities on this territory.
National accounts are exhaustive. This means that all resident statistical units are covered.
The reference area for national accounts is the total economy of a Estonia. The total economy of a country can be broken down into regions. The NUTS classification provides a single, uniform breakdown of the economic territory of the Member States of the EU.
The usual reference period to be used for presenting national accounts data is the calendar year for annual data and the quarter for quarterly data.
Two basic kinds of information are recorded: flows and stocks. Flows refer to actions and effects of events that take place within a given period of time (year or quarter), while stocks refer to positions at a point of time (usually the beginning or end of a year or quarter).
The accuracy of the national accounts depends on the quality of data of other statistical activities used as input. The accuracy of input data from statistical activities is monitored.
With the exception of some variables concerning population and labour that are usually expressed in number of persons, hours or jobs, the ESA 2010 system shows all flows and stocks in monetary terms: in euros or other national currency. Flows and stocks shall be measured according to their exchange value, i.e. the value at which flows and stocks are in fact, or could be, exchanged for cash. Market prices are, thus, the ESA's reference for valuation.
In addition to measurement in current (market) prices, some national accounts variables are also expressed in previous year's prices and chain-linked volumes, see section 3.9. Furthermore, it is possible to derive growth rates and indices, and various other measures '(e.g. percentages, per capita data, data expressed in purchasing power standards)' can be applied as well.
Data sources, methods and compilation techniques are country specific, but should be employed in such a way that the definitions and concepts in ESA 2010 are met. Many guidance documents on general and specific national accounts compilation issues are available. See for more details section 10.6.
Collected data are converted into statistical output. This includes calculation of additional indicators.
National and regional accounts compilation builds up on statistics that are primarily collected for other purposes (primary statistics).
It relies on a variety of data sources, including administrative data:
Data on state budget and local government budgets by budget classification are received from the information system of governmental accounts of the Ministry of Finance.
The expenditure report of state pension insurance is received from the Social Insurance Board.
The expenditure report of health insurance is received from the Estonian Health Insurance Fund.
Information about buildings is received from the Estonian Register of Buildings.
Data on the following tax returns are received from the Estonian Tax and Customs Board: income tax return for a resident natural person (form A); business income of a resident natural person (form E); declaration of income and social tax, unemployment insurance premiums and contributions to mandatory funded pension (form TSD, annex 1, annex 4).
The following data are received from Eesti Pank: Balance of Payments, aggregated balance sheet and income statement of commercial banks, aggregated income statement of leasing companies.
There is no single survey source for national accounts. Sources provide statistical information on a large set of economic, social, financial and environmental phenomena, which are not strictly related to national accounts.
Inventories provided to Eurostat usually include information on main sources (see section 10.6). Further information on data sources can be found on the national website
For quarterly national accounts data frequency of dissemination is quarterly, for annual national accounts frequency of dissemination is annual.
National accounts data become available to users as timely as possible, taking into account the frequency of the data (annual or quarterly), the character of the data (info on the structure of an economy or on conjuncture developments) and an adequate balance between accuracy and timeliness.
The ESA 2010 transmission programme defines the required timeliness for all national accounts tables. Quarterly tables become available 2 after the quarter-end.
For annual national accounts the data are published 270 days, 630 days and 1,350 days after the end of the reference year. 270 days after the end of the reference year (T + 270) the corrected quarterly and annual data are published. 630 days after the end of the reference year (T + 630) the annual data revised according to the Structural Business Survey (SBS; in Estonian EKOMAR) are published. 1,350 days after the end of the reference year (T + 1350) the annual data revised according to the supply and use tables are published.
For government finance statistics, the monthly data about taxes accrued in the state budget are published 20 days after the end of the reference month (T + 20), the monthly data about the state budget revenue and expenditure are published 45 days after the end of the reference month (T + 45), the quarterly data about taxes accrued in the local government budgets and state and local government budgets are published 45 days after the end of the reference quarter (T + 45).
Data on government revenue and expenditure, financial transactions and debts are published: The quarterly data 85 days after the end of the reference quarter (T + 85); Preliminary annual data 85 days after the end of the reference year (T + 85); The revised annual data 268 days after the end of the reference year (T + 268).The annual financial and non-financial accounts data by institutional sectors are published 270 days after the end of the reference year (T + 270). 630 days after the end of the reference period (T + 630) the published data are revised according to the Structural Business Survey (SBS; in Estonian EKOMAR). 1,350 days after the end of the reference period (T + 1350) the published data are revised according to the supply and use tables.
The quarterly financial and non-financial accounts data by general government and the rest of the world sectors are published 85 days after the end of the reference quarter (T + 85).
SUT and IOT data are published 1,080 days after the end of the reference year (T + 1080).
For pension satellite account, the data are published 24 months after the end of the reference year (T + 24 months).
For regional national accounts, the data are published 365 days after the end of the reference year (T + 365).
The geographical comparability of national accounts in Member States of the EU is ensured by the application of common definitions of the European System of Accounts ESA 2010). Worldwide geographical comparison is also possible as most non-European countries apply the SNA 2008 guidelines, and SNA 2008 is consistent with ESA 2010.
As the data for all reference periods are compiled according to the requirements of the ESA 2010, national accounts data are fully comparable over time. Also, in the case of fundamental changes to methods or classifications, revisions of long time series are performed, usually going far back into the past.
National accounts time series compiled according to a common methodology start from 1995.
The SUT for 2010 are compiled according to ESA95 and ESA 2010. From 2011 onwards the supply and use tables are compiled according to ESA 2010. The SUT compiled according to EMTAK 2008 (NACE Rev.2) and CPA 2008 are comparable over time from 2008 onwards. The SUT for 2000–2007 were compiled according to EMTAK 2003 (NACE Rev.1.1) and CPA 2002.
The IOT for the years 2000 and 2005 have been compiled according to CPA 2002. The IOT for the year 2010 have been compiled according to CPA 2008 and are not comparable with the IOT for 2000 and 2005. The IOT for the year 2010 have been compiled according to ESA95 and ESA 2010. The IOT for the year 2015 are compiled according to ESA 2010.
