|
Term
|
Definition
|
Paragraph(s)
|
|
Acquisitions
|
Goods (including assets) and services are
acquired by institutional units when they become the new owners of the goods
or when the delivery of services to them is completed.
|
9.32
|
|
Actual final consumption of general
government
|
Actual final
consumption of general government is measured by the value of the
collective (as opposed to individual) consumption services provided to the
community, or large sections of the community, by general government; it is
derived from their final consumption expenditure by subtracting the value
of social transfers in kind payable.
|
9.97 and 9.3
|
|
Actual final consumption of households
|
Actual final
consumption of households is the value of the consumption goods
and services acquired by households, whether by purchase in general, or by
transfer from government units or NPISHs, and used by them for the
satisfaction of their needs and wants; it is derived from their final
consumption expenditure by adding the value of social transfers in kind
receivable.
|
9.11 and 9.3 [9.72, 9.96]
|
|
Actual final consumption of NPISHs
|
There is no actual
final consumption of NPISHs because, in practice, most of their
services are individual in nature and so, for simplicity, all services
provided by NPISHs are treated by convention as individual (as social
transfers in kind).
|
9.44 [9.94, 9.95]
|
|
Actual individual consumption
|
Actual individual
consumption is measured by the total value of household final
consumption expenditure, NPISH final consumption expenditure and government
expenditure on individual consumption goods and services.
|
[9.94]
|
|
Adjustment for the change in the net equity
of households in pension fund reserves
|
The adjustment for
the change in the net equity of households in pension fund
reserves is equal to the total value of the actual social
contributions payable into private funded pension schemes plus the total value
of contribution supplements payable out of the property income attributed to
insurance policy holders (i.e. holders of
pension rights) minus the value of the associated service charges minus the
total value of the pensions paid out as social insurance benefits by private
funded pension schemes; this adjustment is designed to ensure that the balance
of pension contributions over pension receipts (i.e. of "transfers" payable over
"transfers" receivable) does not enter into
household saving.
|
9.16 [10.30]
|
|
Basic price
|
The basic
price is the amount receivable by the producer from the purchaser
for a unit of a good or service produced as output minus any tax payable, and
plus any subsidy receivable, on that unit as a consequence of its production
or sale; it excludes any transport charges invoiced separately by the
producer.
|
6.205, 15.28 [3.82]
|
|
Capital transfers
|
Capital transfers are transactions, either in cash
or in kind, in which the ownership of an asset (other than cash and
inventories) is transferred from one institutional unit to another, or in
which cash is transferred to enable the recipient to acquire another asset, or
in which the funds realised by the disposal of another asset are
transferred.
|
10.29
[3.22, 8.3]
|
|
Chain indices
|
Chain indices are obtained by linking price (or
volume) indices for consecutive periods; the short-term movements which are
linked are calculated using weighting patterns appropriate to the periods
concerned.
|
16.41
|
|
Changes in
inventories (including work-in-progress)
|
Changes in inventories (including work-in-progress)
consist of changes in: a) stocks of outputs that are still held by the units
that produced them prior to their being further processed, sold, delivered to
other units or used in other ways; and b) stocks of products acquired from
other units that are intended to be used for intermediate consumption or for
resale without further processing; they are measured by the value of the
entries into inventories less the value of withdrawals and the value of any
recurrent losses of goods held in inventories.
|
10.7 and 10.28
|
|
Collective
consumption service
|
A collective consumption service is a service
provided by general government simultaneously to all members of the community
or to all members of a particular section of the community,
such as all households living in a particular region.
|
9.43
|
|
Compensation of
employees
|
Compensation of employees is the total
remuneration, in cash or in kind, payable by enterprises to employees in
return for work done by the latter during the accounting period.
|
7.21
[7.31]
|
|
Constant prices
|
Constant prices are obtained by directly factoring
changes over time in the values of flows or stocks of goods and services into
two components reflecting changes in the prices of the goods and services
concerned and changes in their volumes (i.e. changes in "constant price
terms" ); the term "at constant
prices" commonly refers to series which use a fixed-base
Laspeyres formula.
|
16.2
|
|
Consumption of fixed
capital
|
Consumption of fixed capital represents the
reduction in the value of the fixed assets used in production during the
accounting period resulting from physical deterioration, normal obsolescence
or normal accidental damage.
|
10.27
[6.179, 10.118]
|
|
Current transfers
|
Current transfers consist of all transfers that are
not transfers of capital; they directly affect the level of disposable income
and should influence the consumption of goods or services.
|
8.32
[3.22, 8.3,
10.133]
|
|
Current transfers
from/to abroad
|
Current transfers which take place between resident
and non-resident institutional units are referred to as current transfers
from/to abroad.
|
8.4
|
|
Disposable income
|
Disposable income is derived from the balance of
primary incomes of an institutional unit or sector by adding all current
transfers, except social transfers in kind, receivable by that unit or sector
and subtracting all current transfers, except social transfers in kind,
payable by that unit or sector; it is the balancing item in the Secondary
Distribution of Income Account.
|
8.11
|
|
Disposals
|
Disposals of assets (inventories, fixed assets or
land or other non-produced assets) by institutional units occur when one of
those units sells or transfers any of the assets to another institutional
unit; when the ownership of an existing fixed asset is transferred from one
resident producer to another, the value of the asset sold, bartered or
transferred is recorded as negative gross fixed capital formation by the
former and as positive gross fixed capital formation by the latter.
|
10.40
[9.32]
|
|
Employee
|
An employee is a person who enters an agreement, which
may be formal or informal, with an enterprise to work for the enterprise in
return for remuneration in cash or in kind.
|
7.23
|
|
Exports of goods
and services
|
Exports of goods and services consist of sales,
barter, or gifts or grants, of goods and services from residents to
non-residents; the treatment of exports and imports in the SNA is generally
identical with that in the balance of payments accounts as described in the
Balance of Payments Manual.
|
14.88
[14.91, 14.94]
|
|
External balance of
goods and services
|
The external balance of goods and services is the value
of exports of goods and services less imports of goods and services.
|
2.166 and Table
2.3 V.1
|
|
Factor cost
|
Gross value added at
factor cost is not a concept used
explicitly in the SNA but it can easily be derived by subtracting the value of
any taxes, less subsidies, on production payable out of gross value added.
|
6.229
|
|
Final consumption
|
Final consumption consists of goods and services
used up by individual households or the community to satisfy their individual
or collective needs or wants.
|
1.49
|
|
Final consumption
expenditure of government
|
Government final consumption expenditure consists
of expenditure, including imputed expenditure, incurred by general government
on both individual consumption goods and services and collective consumption
services.
|
9.94
|
|
Final consumption
expenditure of households
|
Household final consumption expenditure consists of
the expenditure, including imputed expenditure, incurred by resident
households on individual consumption goods and services, including those sold
at prices that are not economically significant.
|
9.94
[9.45]
|
|
Final consumption
expenditure of NPISHs
|
Final consumption expenditure of NPISHs consists of
the expenditure, including imputed expenditure, incurred by resident NPISHs on
individual consumption goods and services.
|
9.94
|
|
Financial
intermediation services indirectly measured (FISIM)
|
Financial intermediation services indirectly measured
(FISIM) is an indirect measure of the value of financial
intermediation services provided but for which financial institutions do not
charge explicitly.
|
6.124
|
|
Full-time equivalent
employment
|
Full-time equivalent employment is the number of
full-time equivalent jobs, defined as total hours worked divided by average
annual hours worked in full-time jobs.
|
17.14
[15.102, 17.28]
|
|
General
government
|
The general government sector consists of the totality
of institutional units which, in addition to fulfilling their political
responsibilities and their role of economic regulation, produce principally
non-market services (possibly goods) for individual or collective consumption
and redistribute income and wealth.
|
2.20
|
|
Government final
consumption expenditure
|
Government final consumption expenditure consists
of expenditure, including imputed expenditure, incurred by general government
on both individual consumption goods and services and collective consumption
services.
|
9.94
|
|
Gross
|
The term
"gross" is
a common means of referring to values before deducting consumption of fixed
capital (generally used as in "gross capital
stock" or "gross domestic
product" ); all the major balancing items in the accounts from
value added through to saving may be recorded gross or net.
|
6.201
|
|
Gross capital
formation
|
Gross capital formation is measured by the total
value of the gross fixed capital formation, changes in inventories and
acquisitions less disposals of valuables for a unit or sector.
|
10.32
|
|
Gross domestic
product (GDP) - expenditure based
|
Expenditure-based gross domestic product is total
final expenditures at purchasers' prices (including the fob value of exports
of goods and services), less the fob value of imports of goods and
services.
|
6.235
|
|
Gross domestic
product (GDP) - income based
|
Income-based gross domestic product is compensation
of employees, plus taxes less subsidies on production and imports, plus gross
mixed income, plus gross operating surplus.
|
2.222
|
|
Gross domestic
product (GDP) - output based
|
Output-based gross domestic product is the sum of
the gross values added of all resident producers at basic prices, plus all
taxes less subsidies on products.
|
6.235 - 6.237
|
|
Gross domestic
product at market prices
|
Gross domestic product at market prices is the sum
of the gross values added of all resident producers at market prices, plus
taxes less subsidies on imports.
|
6.235 - 6.237
|
|
Gross fixed capital
formation
|
Gross fixed capital formation is measured by the
total value of a producer's acquisitions, less disposals, of fixed assets
during the accounting period plus certain additions to the value of
non-produced assets (such as subsoil assets or major improvements in the
quantity, quality or productivity of land) realised by the productive activity
of institutional units.
|
10.33 and 10.51
[10.26]
|
|
Gross national
disposable income
|
Gross national disposable income may be derived
from gross national income by adding all current transfers in cash or in kind
receivable by resident institutional units from non-resident units
and subtracting all current transfers in cash or in kind payable by resident
institutional units to non-resident units.
|
8.16
[2.183]
|
|
Gross national income
(GNI)
|
Gross national income (GNI) is GDP less net taxes
on production and imports, less compensation of employees and property income
payable to the rest of the world plus the corresponding items receivable from
the rest of the world (in other words, GDP less primary incomes payable to
non-resident units plus primary incomes receivable from non-resident units);
an alternative approach to measuring GNI at market prices is as the aggregate
value of the balances of gross primary incomes for all sectors; [note that
gross national income is identical to gross national product (GNP) as
previously used in national accounts generally].
|
2.81 and 7.16 and
Table 7.2
[2.181]
|
|
Gross saving
|
Gross saving is gross disposable income less final
consumption expenditure.
|
9.2
|
|
Gross value added
|
Gross value added is the value of output less the
value of intermediate consumption; it is a measure of the contribution to GDP
made by an individual producer, industry or sector; gross value added is
the source from which the primary incomes of the SNA are generated and is
therefore carried forward into the primary distribution of income account.
|
1.6
[2.172, 6.4,
6.222]
|
|
Gross value added at
basic prices
|
Gross value added at basic prices is output valued
at basic prices less intermediate consumption valued at purchasers'
prices.
|
6.226, 15.37
[6.231]
|
|
Gross value added
at producers' prices
|
Gross value added at producers' prices is output
valued at producers' prices less intermediate consumption valued at
purchasers' prices.
|
6.227, 15.37
|
|
Household final
consumption expenditure
|
Household final consumption expenditure consists of
the expenditure, including imputed expenditure, incurred by resident
households on individual consumption goods and services, including those sold
at prices that are not economically significant.
|
9.94
[9.45]
|
|
Import duties
|
Import duties consist of customs duties, or other
import charges, which are payable on goods of a particular type when they
enter the economic territory.
|
7.66
|
|
Import subsidies
|
Import subsidies consist of subsidies on goods and
services that become payable to resident producers when the goods cross the
frontier of the economic territory or when the services are delivered to
resident institutional units.
|
7.74
|
|
Imports of goods
and services
|
Imports of goods and services consist of purchases,
barter, or receipts of gifts or grants, of goods and services by residents
from non-residents; the treatment of exports and imports in the SNA is
generally identical with that in the balance of payments accounts as described
in the Balance of Payments Manual.
|
14.88
[14.91, 14.94]
|
|
Income from abroad -
net
|
Net income from abroad is the difference between
the total values of the primary incomes receivable from, and payable to,
non-residents.
|
7.15
|
|
ISIC
|
ISIC is the United Nations International Standard
Industrial Classification of All Economic Activities; the third revision of
ISIC is used in the 1993 SNA.
|
1.47
|
|
Mixed income
|
Mixed income is the surplus or deficit accruing
from production by unincorporated enterprises owned by households; it
implicitly contains an element of remuneration for work done by the owner,
or other members of the household, that cannot be separately identified from
the return to the owner as entrepreneur but it excludes the operating surplus
coming from owner-occupied dwellings.
|
7.8
[4.143, 7.81]
|
|
National disposable
income
|
National disposable income may be derived from
national income by adding all current transfers in cash or in kind receivable
by resident institutional units from non-resident units and subtracting all
current transfers in cash or in kind payable by resident institutional units
to non-resident units.
|
8.16
[2.183]
|
|
National
expenditure
|
Capital formation and
final consumption grouped together constitute national
expenditure.
|
2.187
|
|
National income
|
National income is the total value of the primary
incomes receivable within an economy less the total of the primary incomes
payable by resident units.
|
7.14
|
|
Net
|
The term
"net" is a
common means of referring to values after deducting consumption of fixed
capital (generally used as in "net capital stock"
or "net domestic product" ); all the major
balancing items in the accounts from value added through to saving may be
recorded gross or net; it should be noted, however, that the term
"net" can be used in different contexts in the
national accounts, such as "net income from
abroad" which is the difference between two income flows.
|
6.201
|
|
Net borrowing
|
Net borrowing
See
"net lending" .
|
|
|
Net income from
abroad
|
Net income from abroad is the difference between
the total values of the primary incomes receivable from, and payable to,
non-residents.
|
7.15
|
|
Net lending
|
Net lending is the net amount a unit or a sector
has available to finance, directly or indirectly, other units or other
sectors; it is the balancing item in the capital account and is defined as:
(Net saving plus capital transfers receivable minus capital transfers payable)
minus (the value of acquisitions less disposals of non-financial assets, less
consumption of fixed capital); negative net lending may also be described
as "net borrowing" .
|
2.137 and Tables
2.1 III.1 and 10.30
|
|
Net national
disposable income
|
Net national disposable income may be derived from
net national income by adding all current transfers in cash or in kind
receivable by resident institutional units from non-resident units and
subtracting all current transfers in cash or in kind payable by resident
institutional units to non-resident units.
|
8.16
|
|
Net national
income
|
The aggregate value
of the balances of net primary incomes summed over all sectors is described
as net national income.
|
7.16 and Table
7.2
[2.182]
|
|
Net saving
|
Net saving is net disposable income less final
consumption expenditure.
|
9.2
|
|
Non-profit
institutions serving households (NPISHs)
|
Non-profit institutions serving households (NPISHs)
consist of NPIs which are not predominantly financed and controlled by
government and which provide goods or services to households free or at prices
that are not economically significant.
|
4.64 and 4.65
[2.20]
|
|
NPISH final
consumption expenditure
|
Final consumption expenditure of NPISHs consists of
the expenditure, including imputed expenditure, incurred by resident NPISHs on
individual consumption goods and services.
|
9.94
|
|
Operating surplus
|
The operating surplus measures the surplus or deficit
accruing from production before taking account of any interest, rent or
similar charges payable on financial or tangible non-produced assets borrowed
or rented by the enterprise, or any interest, rent or similar receipts
receivable on financial or tangible non-produced assets owned by the
enterprise; (note: for unincorporated enterprises owned by households, this
component is called "mixed income" ).
|
7.8
|
|
Primary incomes
|
Primary incomes are incomes that accrue to
institutional units as a consequence of their involvement in processes of
production or ownership of assets that may be needed for purposes of
production.
|
7.2
|
|
Purchasing power
parity (PPP)
|
A purchasing power parity (PPP) is a price relative
which measures the number of units of country B's currency that are needed in
country B to purchase the same quantity of an individual good or service
as 1 unit of country A's currency will purchase in country A.
|
16.82
|
|
Real gross domestic
income (real GDI)
|
Real gross domestic income (real GDI) measures the
purchasing power of the total incomes generated by domestic production
(including the impact on those incomes of changes in the terms of trade);
it is equal to gross domestic product at constant prices plus the trading gain
(or less the trading loss) resulting from changes in the terms of trade.
|
16.152
|
|
Rebasing
|
In the course of
time, the pattern of relative prices in the base period tends to become
progressively less relevant to the economic situations of later periods to the
point at which it becomes unacceptable to continue using them to measure
volume measures from one period to the next; it may then be necessary to
update the base period, a process which is commonly referred to as
"rebasing" .
|
16.31
|
|
Saving
|
Saving is disposable income less final consumption
expenditure (or adjusted disposable income less actual final consumption), in
both cases after taking account of an adjustment for pension funds; saving is
an important aggregate which can be calculated for each institutional sector
or for the whole economy.
|
9.17
[1.10, 9.2, 9.19]
|
|
Self-employed
workers
|
Self-employed workers are persons who are the sole
owners, or joint owners, of the unincorporated enterprises in which they work,
excluding those unincorporated enterprises that are classified
as quasi-corporations.
|
7.24
|
|
SNA (System of National Accounts)
|
The System of National Accounts (SNA) consists of a
coherent, consistent and integrated set of macroeconomic accounts, balance
sheets and tables based on a set of internationally agreed concepts,
definitions, classifications and accounting rules.
|
1.1
|
|
Subsidies
|
Subsidies are current unrequited payments that
government units, including non-resident government units, make to enterprises
on the basis of the levels of their production activities or the quantities or
values of the goods or services which they produce, sell or import.
|
7.71
[15.52]
|
|
Subsidies on
production - other
|
Other subsidies on production consist of subsidies,
except subsidies on products, which resident enterprises may receive as a
consequence of engaging in production (e.g. subsidies on payroll or workforce or subsidies to reduce
pollution).
|
7.79
|
|
Subsidies on products
- other
|
Other subsidies on products (other than export or
import subsidies) consist of subsidies on goods or services produced as the
outputs of resident enterprises that become payable as a result
of the production, sale, transfer, leasing or delivery of those goods or
services, or as a result of their use for own consumption or own capital
formation; there are three broad categories: a) subsidies on products used
domestically; b) losses of government trading organisations; and c) subsidies
to public corporations and quasi-corporations.
|
7.78
|
|
System of National Accounts (SNA)
|
The System of National Accounts (SNA) consists of a
coherent, consistent and integrated set of macroeconomic accounts, balance
sheets and tables based on a set of internationally agreed concepts,
definitions, classifications and accounting rules.
|
1.1
|
|
Taxes
|
Taxes are compulsory, unrequited payments, in cash
or in kind, made by institutional units to government units; they are
described as unrequited because the government provides nothing in return to
the individual unit making the payment, although governments may use the funds
raised in taxes to provide goods or services to other units, either
individually or collectively, or to the community as a whole.
|
7.48
[8.43]
|
|
Taxes on production
and imports
|
Taxes on production and imports consist of taxes
payable on goods and services when they are produced, delivered, sold,
transferred or otherwise disposed of by their producers plus taxes and duties
on imports that become payable when goods enter the economic territory by
crossing the frontier or when services are delivered to resident units by
non-resident units; they also include other taxes on production, which consist
mainly of taxes on the ownership or use of land, buildings or other assets
used in production or on the labour employed, or compensation of employees
paid.
|
7.49
|
|
Taxes on products
|
Taxes on products, excluding VAT, import and export
taxes, consist of taxes on goods and services that become payable as a result
of the production, sale, transfer, leasing or delivery of those goods or
services, or as a result of their use for own consumption or own capital
formation.
|
7.69, 15.47
|
|
Total final
consumption
|
Total final consumption is the total value of all
expenditures on individual and collective consumption goods and services
incurred by resident households, resident NPISHs and general government units;
it may also be defined in terms of actual final consumption as the value of
all the individual goods and services acquired by resident households plus the
value of the collective services provided by general government to the
community or large sections of the community.
|
9.98
|
|
Trading gains and
losses
|
Trading gains and losses arise from changes in a
country's terms of trade; for example, if the prices of a country's exports
rise faster (or fall more slowly) than the prices of its imports (i.e. if its terms of trade improve) then an
increased volume of imports of goods and services can be purchased by
residents out of the receipts generated by a given level of exports.
|
16.152
|
|
Valuables
|
Valuables are produced assets that are not used
primarily for production or consumption, that are expected to appreciate or at
least not to decline in real value, that do not deteriorate over time under
normal conditions and that are acquired and held primarily as stores of
value.
|
(AN.13) - Annex
to Chapter XIII
[10.7, 10.116, 13.15,
13.50]
|
|
Wages and
salaries
|
Wages and salaries consist of the sum of wages and
salaries in cash and wages and salaries in kind.
|
7.33 and 7.37
|
|
Wages and salaries in
cash
|
Wages and salaries in cash consist of wages or
salaries payable at regular weekly, monthly or other intervals, including
payments by results and piecework payments; plus allowances such as those
for working overtime; plus amounts paid to employees away from work for short
periods (e.g. on holiday); plus ad hoc bonuses and similar payments; plus
commissions, gratuities and tips received by employees.
|
7.33
|
|
Wages and salaries in
kind
|
Wages and salaries in kind consist of remuneration
in the form of goods and/or services that are not necessary for work and can
be used by employees in their own time, and at their own discretion,
for the satisfaction of their own needs or wants or those of other members of
their households.
|
7.39
|
