The supply and use tables and goods and services account

The sequence of accounts described in chapters 6 to 13 portrays the working of the economy with particular emphasis on how income is generated, distributed, redistributed and used for consumption or the acquisition of assets and when assets are disposed of, or a liability is incurred, to acquire other assets or undertake more consumption than current income permits. An alternative view of the economy focuses less on income and more on the processes of production and consumption. Where do products come from and how are they used? The present chapter is concerned with this aspect of the accounts. It consists of a description of a product balance and the generalization of this to the goods and services account, as well as the practical and conceptual benefits of these accounts. It also shows how supply and use tables can be compiled for the economy and provides a link to input-output tables, which are described in chapter 28.

Related Subject(s): Economic and Social Development