Statistics Netherlands

National Accounts Department

Henri Faasdreef 312

The Hague

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 commonly 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 and household accounts

- 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

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.

A full overview of classifications is available in:

- ESA 2010 Chapter 23 Classifications

- Eurostat's RAMON classification database

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.

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 country. 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 delimitation of the Dutch economic territory and the designation of residents are in conformity with the definitions given in ESA 2010, sections 2.04 to 2.11 inclusive.

On 10 October 2010 the Netherlands Antilles ceased to exist. On that date the Islands Curaçao and St. Maarten became independent countries within the Kingdom of the Netherlands. The other islands of the former Netherlands Antilles, Bonaire, St. Eustatius and Saba, became special municipalities ("Openbare Lichamen") within the Netherlands.

So, in the reporting year 2010 the Kingdom of the Netherlands consisted of three parts until 10-10-10, namely:

• The Netherlands, that is the territory of the Kingdom in Europe;
• The Netherlands Antilles (Curaçao, Bonaire, part of the Island of St. Martin (St. Maarten), St. Eustatius and Saba);
• Aruba (separated from the Netherlands Antilles on 1 January 1986).

From 10-10-10 onward the Kingdom of the Netherlands consists of four parts:

• The Netherlands, that is the territory of the Kingdom in Europe plus Bonaire, St. Eustatius and Saba as special municipalities;

• Curaçao;

• St. Maarten;

• Aruba.

While a number of matters subject to the authority of the Kingdom, such as defence and foreign relations, are regulated jointly, the four parts enjoy complete autonomy with regard to other ‘national’ matters.

The Dutch economic territory does not encompass Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba, because:

• Under the protocol of 25 March 1957, the Treaty of Rome applies only to the Kingdom in Europe and Netherlands New Guinea;

• By a convention of 13 November 1962, the Netherlands Antilles were incorporated in Annex IV (associated countries and areas) of the Treaty of Rome;

• The European Community is based on a customs union (Article 9 of the Treaty of Rome); ESA 95, section 2.05, refers to the territory benefiting from the free movement of goods;

• Only that part of the territory of the Kingdom lying within Europe forms part of the Community customs area (Directive 2151/84/EC of 23 July 1984).

The above-mentioned is confirmed in Commission Regulation (EC) No 109/2005 of 24 January 2005 on the definition of the economic territory of Member States for the purpose of Council Regulation (EC, Euratom) No 1287/2003 on the harmonisation of gross national income at market prices. In this regulation is stated that the territory of the Netherlands encompasses ‘the territory of the Kingdom of the Netherlands, with exception of the overseas countries and territories over which it exercises sovereignty, as defined in Annex II of the Treaty establishing the European Community’. In this Annex II Aruba and the Netherlands Antilles are stated.

There are no free trade areas within the Dutch territory. The value added in bonded warehouses, as a result, for instance, of storage and duty-free sales at airports, is included in GDP.

The Dutch section of the continental shelf is regarded as part of the economic area of the Netherlands. The extraction of oil and gas that takes place in this area is thus included in Dutch GDP. Inclusion in the statistics is based on the grant of an operating licence.

Territorial enclaves as defined in ESA 2010, section 2.05, relate in particular to Dutch embassies and some barrack areas in NATO partner countries or other countries. Extra-territorial enclaves as defined in ESA 2010, section 2.06, include foreign embassies and consulates and establishments of organisations such as the International Court of Justice, the Permanent Court of Arbitration, the Dutch Reactor Centre, ESTEC, EUROCONTROL, the Organisation for the Prohibition of Chemical Weapons, the International Criminal Court and the NATO.

The Netherlands does not have any deposits situated in international waters outside the Dutch part of the continental shelf that are exploited by resident units.

A point worth mentioning is that, in the province of Noord-Brabant, there are about 30 small Belgian areas that together form the municipality of Baarle-Hertog. These areas in turn enclose two small enclaves, which form part of the Dutch municipality of Baarle-Nassau.

National accounts data are usually 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.

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.

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).

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.

Statistics Netherlands (CBS) is responsible for publishing of reliable and coherent statistical information which responds to the needs of Dutch society. The responsibility of SN is twofold: firstly, to compile (official) national statistics and secondly to compile European (community) statistics. The Statistics Netherlands Act constitutes the legal basis for CBS. In addition, CBS has Regulations of the board.

The statistical programmes of Statistics Netherlands cover a multitude of societal topics, from macro-economic indicators such as economic growth and consumer prices, to the incomes of individuals and households. Statistics Netherlands’ statistical programmes (the long-term statistical programme and the annual work programme) are set by the Director General. The Director General is also responsible for applied statistical methodology and the publication of statistical information. Statistics Netherlands aims to minimise its administrative burden on companies and the public. To this end CBS is granted access to existing administrative registrations of both government and government-funded organisations. These registers are accessible for official statistics free of charge. Where registers are not able to provide the required information, Statistics Netherlands is allowed to conduct supplementary business and household surveys. Companies are usually obliged by law to supply information to Statistics Netherlands and can be forced to cooperate under certain circumstances. Statistics Netherlands may use sanctions such as administrative fines. Statistics Netherlands is obliged to keep all individual data confidential. As an exception data sharing with Eurostat, NSIs in EU member states, Dutch Central Bank and academic researchers is allowed under certain conditions.　

On 3 January 2004, Statistics Netherlands became an autonomous agency with legal personality. This implies there is no longer a hierarchical relationship between the Minister of Economic Affairs and the CBS organisation. However, the minister is still responsible for maintaining a system for the provision of governmental statistical information; in other words the minister is politically responsible for legislation and budget, for assuring the service of independent and publically available and high quality statistics. The costs of tasks and activities undertaken to put this legislation into practice are accountable to the government’s budget. Since 1 January 2017, CBS has an Advisory Council. As stipulated by the Statistics Netherlands Act, the Advisory Council’s main task is to provide the Director General with solicited and unsolicited advice about the performance of his tasks and the exercise of his powers. When the position of Director General becomes vacant, another task of the Advisory Council is to make a recommendation to the Minister.

Statistical information published by Statistics Netherlands covers a wide variety of social and economic aspects. For this purpose, hundreds of surveys are conducted on annual, quarterly or monthly basis among enterprises, households, private and government bodies. Statistics Netherlands ensures the confidentiality of individual data.

Survey results provide a wealth of information on Dutch society. Statistical expertise backed up by scientific analysis ensures the adequacy and reliability of the information.

The organisation of Statistics Netherlands includes two statistical divisions:

• the "Division for Economic and Business Statistics and National Accounts" (EBN) is responsible for providing business, enterprise statistics and macro-economic statistics including the national accounts and the CPI;

• the "Division of Socio-economic and Spatial Statistics" (SER) is responsible for personal, household and regional statistics;

The Division EBN is divided into six departments, namely "Government finance and consumer price statistics", "Business Registers", "Business Statistics" (two departments: one in Heerlen and one in The Hague), "National Accounts" and a Staff Department.

The division, "Operational management, IT and Methodology takes care of statistical and IT support activities within Statistical Netherlands as well as software and methodological development and other supporting activities.

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.

Aggreements for sharing data are in place with the Central Bank and the Ministry of Finance. 

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).

Statistics Netherlands endorses the European Statistics Code of Practice for statistical authorities and puts this code into practice.

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.

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.

The publication schedule on the CBS website provides a list of the dates and times at which results will be published by means of a news release. Other statistics are published in table form in the StatLine database from midnight. This point of time has to do with the regular daily technical update of the database that takes place at night. The publication schedule is updated in any case weekly on Fridays. This schedule also contains information on the nature of the reporting (the subject and the kinds of figures or the period covered by the publication).

See https://www.cbs.nl/en-gb/about-us/organisation/publication-policy

Release calendars should be easily available and accessible for users, e.g. by publication on the website of an NSI.

https://www.cbs.nl/en-gb/publication-calendar

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.

The release calendar is published on the CBS-website: https://www.cbs.nl/nl-nl/publicatieplanning

This is available to all concerned.

New quarterly national accounts data are published each quarter: 4 times per year. However, depending on circumstances and national practices, initially released quarterly national accounts data may be revised and disseminated again. Annual national accounts data are published at least once a year: when data for a new year are added. But, depending on country practices and revision policy, annual data can also be published more often, e.g. publication of a provisional estimate early in the calendar year and a revised one later in the calendar year.

See publication calendar (section 8)

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).

In addition to news releases, national accounts data may be disseminated in other publications, such as statistical papers, yearbooks, internal and external articles. Usually this concerns publications in which more in-depth analysis is carried out.

In order to enable easy access to national accounts data, all validated national accounts data should be made available to users by publishing them in an online database.

http://statline.cbs.nl/Statweb/

Not applicable.

In addition to news releases and other publications (see sections 10.1 and 10.2), information on national accounts may be posted using social media.

https://twitter.com/statistiekcbs

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.

https://www.google.nl/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=2ahUKEwjd95mfyZ7dAhVHb1AKHZ0qDPcQFjABegQICRAC&url=https%3A%2F%2Fwww.cbs.nl%2F-%2Fmedia%2F_pdf%2F2017%2F13%2Fgni%2520inventory%25202010%2520march%25202017-web.pdf&usg=AOvVaw3QKPrDFoX8MlGyeadp6PnY

The importance of national accounts requires that documentation should be available on the procedures applied for quality management and quality assessment. Examples of such documentation are national accounts quality reports, quality studies and reports on revision analysis.

See https://www.cbs.nl/-/media/_pdf/2018/30/quality-management-of-methodology-zeelenberg.pdf

Quality of national accounts data is assured by strict application of ESA 2010 concepts and by applying the guidelines of the ESS handbook for quality reports.

During the overall compilation process, national and regional accounts data undergo several kinds of quality checks, e.g. ex-ante (source statistics), ongoing (results), ex-post (methods used) and external checks (Eurostat, European or national Court of Auditors, IMF).

CBS’s mission is to publish reliable and coherent statistical information that meets society’s needs. A prerequisite of this mission is that the quality of this statistical information is guaranteed, to which end CBS has set up a quality management system, based on the highest international standards. This will allow CBS to remain one of the leading statistical institutes in this respect, without imposing complex and complicated quality systems. CBS’s Quality Statement specifies the way in which these quality standards are met.

see https://www.cbs.nl/-/media/_pdf/2018/30/quality-management-of-methodology-zeelenberg.pdf

see https://www.cbs.nl/-/media/_pdf/2017/45/quality%20declaration.pdf

The national practice could be reported, for example by providing a link to the national quality report delivered by Eurostat or other nationally released quality reports (or providing a summary description of its content).

see https://www.cbs.nl/-/media/_pdf/2018/29/quality-by-design-kuurstra-zeelenberg.pdf

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.

See https://www.cbs.nl/en-gb/about-us/organisation/the-advisory-council

The major users of the CBS national accounts data are the Dutch Central Bank and the Netherlands Bureau of Economic Policy Analysis. 

Views and opinions of users of national accounts statistics can be collected and analysed as one of the tools to 'measure' the relevance of national accounts data.

The main contact with users of National Accounts is organized through user councils, e.g. the User Council for Macro-economic Statistics, comprising of representatives of Ministries, Central Bank, Universities and Researchers. The Council meets twice a year and discusses a range of topics.

In most countries national accounts cover the domains national accounts main aggregates, government accounts, sector accounts regional accounts and supply and use tables. However, the content of the data on these domains as well as the (details of the) various breakdowns (by region, sector, industry, product, etc.) may deviate per country, depending on national needs and available sources.

The ESA 2010 transmission programme, consisting of 22 tables across all national accounts domains (see section10.3) defines the minimum national accounts data set that must be available in all Member States of the EU.

The national practice could be filled in: you can refer to your national quality report and more specifically to the revision analysis in your quality report.

Not applicable.

Not applicable.

National accounts data should 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 should become available between 2 and 3 months after the quarter-end. The annual tables have to be transmitted between 2 months (main aggregates) and 36 months (supply and use tables) after the end of the reference year.

Good practice requires that the dates on which national accounts data become available are pre-announced and that the pre-announced publication dates are met.

National accounts data transmissions in the framework of the ESA 2010 transmission programme should be punctually delivered to Eurostat at the timeliness defined in the transmission programme (or before).

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.

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.

See section 15.3 (Coherence - cross domain).

Not available.

No comments.

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. 

Benchmark revisions are carried out for reporting years ending "0" or "5", to be published in the years ending, respectively "3" and "8".

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.

See section 17.1.

See https://www.cbs.nl/nl-nl/publicatie/2018/21/nationale-rekeningen-revisie-2015

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: car and business registers, accounting statements, tax data, budgetary reports, population censuses, statistical surveys of businesses and households, statements of supervising institutions and branch organisations, annual and quarterly reports, trade statistics on goods and services, balance of payments information.

There is no single survey source for national accounts. Sources vary from country to country and provide statistical information on a large set of economic, social, financial and environmental phenomena, which may not be strictly related to national accounts.

 See https://www.google.nl/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwiR5L3o5J7dAhXLKewKHREjAJYQFjAAegQIBRAC&url=https%3A%2F%2Fwww.cbs.nl%2F-%2Fmedia%2F_pdf%2F2017%2F13%2Fgni%2520inventory%25202010%2520march%25202017-web.pdf&usg=AOvVaw3QKPrDFoX8MlGyeadp6PnY

National accounts are usually compiled on an annual or quarterly basis from other primary statistics. The frequency of data collection of primary statistics varies according to the nature of the data source. For example, business statistics are typically available on a monthly (and quarterly) basis. Some households' surveys are available on quarterly or annual frequency (sometimes even less frequent). Availability of administrative data varies from country to country. Population censuses are mostly collected every decade.

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.

The data collection is very country specific and also varies according to the nature of the data source, e.g. administrative data, tax and car registers, surveys, accounting statements.  Guidance can be found in the Handbook of Recommended Practices for Questionnaire Development and Testing Methods in the ESS.

National accounts departments typically do not collect data themselves but receive them from other departments or institutions. Countries can provide a more detailed description of the channels by which external data are collected.

The ESS guidelines suggest that the methods used for data collection should be described. It can also be appropriate to complete the section with the following issues: (i) an NSI usually signs an agreement and technical protocol for cooperation with other institutions on what, when, how, etc. the data would be delivered; (ii) national accounts department also participates in the development of the questionnaires of statistical surveys of other departments.

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.

The confrontation of data from different sources is an integral part of the national accounts compilation. Source data used in national accounts undergo a sequence of checks within NSIs. For the validation of national accounts data, country X applies minimum validation rules agreed with Eurostat and provides metadata to support the validation process with respect to revisions and outliers. Further information on validation checks can be found on the website.

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.

Key approaches and techniques for the compilation of national accounts in country X can be summarised as follows:

The leading approach(es) to compile GDP in the framework of annual national accounts in country X is/are the (production, expenditure/income) approach. Consistency is obtained via reconciliation/balancing process. Notably, changes in inventories and valuables or gross operating surplus and mixed income are derived as residuals. The same/another approach is used for the compilation of quarterly national accounts. Sector accounts are compiled after/together with main aggregates.

Countries can complete this section with a general description of the calculation of the data by domain listed in sections 3.1 and 10.6

National accounts datasets are generally consistent (list main exceptions/explanations).

For related information see also sections 10.6. and 17.1.

The objectives of seasonal adjustment are to identify and remove seasonal fluctuations and calendar effects which can mask short and long-term movements in a time series and impede a clear understanding of underlying phenomena. Seasonal adjustment is therefore a fundamental process in the interpretation of time series to inform policy making (ESS guidelines on seasonal adjustment, 2015 Edition, Annex, point 1).

For selected sub-annual national accounts data, such as notably the quarterly main aggregates, time series are usually not only published in their unadjusted form, but also with various types of adjustment (e.g. seasonal, calendar, trend-cycle).

According to the ESA transmission programme, quarterly data are to be provided in non-seasonally adjusted form, as well as in seasonally adjusted form (including calendar adjustments, where relevant) except for previous year’s prices.

The provision of quarterly data that only include calendar adjustments is voluntary.

For sector accounts, seasonal adjustment (including calendar adjustments, where relevant) is compulsory for a limited set of series.

See QNA Inventory.

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