National accounts
The System of National Accounts (SNA)
is a system of indicators providing coherent and consecutive descriptions of
fundamental economic processes and events: production, income, consumption,
capital formation and finance.
The State Statistics Service compiles the national accounts in line with the SNA
standard adopted by international organisations in 2008.
According to the international SNA standard the institutional units are grouped
into five sectors:
non-financial corporations refer to the institutional units
involved in marketable production of marketable goods and services for sale at
prices covering the production costs and providing a surplus;
financial corporations are the institutional units specializing in financial
intermediation (banks, insurance companies, etc);
general government incorporates the central and local governments, non-profit
public sector entities and State earmarked funds;
household sector covers the natural persons both as consumers and in some cases
as unincorporated businesses;
non-profit institutions sector serving households (NPISH) refer to the
institutional units set up by selected groups of households to satisfy their
political, religious and professional interests, and also to render social and
cultural services on a non market basis.
The SNA reflects the economy development at various stages of the production
process, it shows the movements of goods and services, and also production and
use of gross domestic product (gross value added).
The production stage
is characterised by output, intermediate consumption, gross domestic product
(gross value added).
Output
is the value of goods and services resulting from the production activity of
resident units over the reference period.
Intermediate consumption
is the expenditure for goods and services used by the institutional units for
production their activities.
Gross value added (GVA)
is compiled as the difference between output and intermediate consumption. It
includes the primary income generated by producers and distributed among them.
The national accounts use two data levels and two estimation methods. For the
economy as a whole, the results are measured by the output of goods and services
and gross domestic product at market prices, while for the sectors and types of
economic activities by output at basic prices and gross value added.
Gross domestic product (GDP)
at the production stage is defined as the difference between output at market
prices and intermediate consumption valued at prices of consumers. It is also
the total of gross values added by type of economic activity and taxes on
products less subsidies on products. Since 2010, the estimates of the GVA have
been compiled by type of economic activity
according to the Classification of Types
of Economic Activity (State Classifier 009:2010).
Taxes on products
include taxes whose value directly depends on the amounts and values of goods
and services produced, sold or imported by a productive unit.
Subsidies on products
are reimbursement from the Central budget to the enterprises in the procedure of
the state regulation of prices for agricultural and other production to cover
the current losses of enterprises, improvements of their financial situations by
renewal of working capital or compensation for selected expenditure.
Income
generation at the level of the
GDP is characterised by the following
indicators: labour remuneration of
employees, taxes and subsidies on production and imports
(at the level of the
gross value added by other taxes
and subsidies associated with the production) and the gross (net) profit.
Labour remuneration of employees
includes wages and salaries, actual and conventional contributions to the social
security done by employers and estimated on the basis of the accrued sums. Wages
and salaries are remuneration in cash or in kind which should be paid by the
resident employer to an employee for the work he has done over the reference
period, regardless of whether this employee is resident or not.
Taxes on production and imports
include taxes on products and other taxes connected with the production, while
the subsidies on production and imports include the subsidies on products
and other subsidies connected with the production.
Other taxes connected with the production
include enterprises’ payments to the Central and local budgets, state earmarked
funds in connection with the uses of resources and getting permits for the
concrete types of activity.
Other subsidies connected with the production
belong to those that are provided to carry out a certain economic and social
policies regarding the uses of resources.
Gross (net) operating surplus
is an indicator that characterises the excess of income over expenditure that
enterprises have as a result of the production. For the sector of households,
this called mixed income. The net operating surplus is defined by excluding
consumption of fixed capital from the gross operating surplus.
At the stage of use, GDP
is estimated as a sum of final consumption of goods and services, gross capital
formation, exports/imports balance of goods and services.
Final consumption of goods and services
consists of expenditure of households for their own final consumption, expenses
of general government to meet individual
and collective needs of the society. It is also includes expenditure for
individual final consumption of non-profit organisations that is serving
households.
Gross capital formation
is estimated as the sum of the gross fixed capital formation, changes in
inventories and the purchase less disposal of valuables.
The exports/imports balance of goods and services
is defined as a difference between exports and imports of goods and services.
The input-output table at consumers’ prices
is compiled according to the SNA. It gives a comprehensive picture of the
processes characterising production and relationships between the types of the
economic activity. Input-output table uses the indicators identical with the
system of national accounts and methodology for their estimation. The table
shows the production links between the types of economic activities, the value
structure of the gross domestic product and its use for the final consumption
and the gross capital formation.
The flows and amounts of structured changes in the economy of