Quality Report GNP/GNI Questionnaire 2014
The Netherlands
19 September 2014

Part 1: General information .......................................................................................................... 2
1.1 Major changes and improvements to sources and methods of national accounts... 2
1.2 Changes in the revision policy and timetable for finalising the estimates;
(domestic) publication date of the submitted results............................................................ 3
1.3 Results of any investigations on the quality of GNI and its components ................... 4
1.4 Description of developments in major sources .............................................................. 5
Part 2: Changes to sources and methods to final estimates .................................................. 5
Part 3: Revisions to years 2010 to 2012 .................................................................................... 7
3.0 Quantitative results benchmark revision 2010 ............................................................... 7
3.1 Routine (current) revisions .............................................................................................. 13
3.2 Revisions related to the work on reservations ............................................................. 13
3.2.1 Treatment of cross border property income .......................................................... 13
3.2.2 Treatment of Illegal activities ................................................................................... 15
3.3 Other revisions due to changes in methods and sources .......................................... 16
3.4 Revisions due to the transition from ESA 95 to ESA 2010 ........................................ 17
Part 4: Revisions related to reservations ................................................................................. 21
Section 4.1: Revisions related to GNP reservations (1995-2001) ................................... 21
Section 4.2: Revisions related to GNI reservations (2002-2010)..................................... 21
Appendix A: National accounts 2010 benchmark revision results ....................................... 23

Part 1: General information
1.1 Major changes and improvements to sources and methods of national accounts

The member states of the European Union (EU) are obliged to deliver data on national accounts
(NA) in conformity the European System of Accounts 2010 (ESA2010) from September 2014
onwards. The implementation of ESA2010 requires a benchmark revision of the NA. This
benchmark revision gives also the opportunity to thoroughly examine and reassess the statistical
system and NA compilation procedures. Even in areas where ESA2010 does not show any differences with its predecessor, changes in the accounts can appear as a result of changed interpretation of concepts and definitions. An example is the inclusion of illegal activities in the national
accounts. This change is part of this benchmark revision.
In recent years the compilation of statistics and the collection of data at Statistics Netherlands
(SN) have changed in several areas. As a consequence of the on-going attempt of Statistics Netherlands (SN) to reduce the administrative burden for the business community, statistics are lesser
based on surveys and increasingly on data derived from administrative sources like tax registers.
In the amendment of the Statistical Law in the Netherlands, it is explicitly laid down that SN has
free and full access to these registers. Registers often contain less detailed information compared
to surveys. On the other hand registers often cover the full population under examination.
An important example is the use of VAT declarations in the compilation of structural business
statistics (SBS). In the past samples were grossed up to the target population as registered in the
general business register. Nowadays total turnover from the VAT-declarations is used also as
target for grossing up. A second important administrative source used in this benchmark revision
is the register on tax returns on payroll taxes. The register represents a key source for the estimation of wages and the number of employee jobs in the NA and is also used as a plausibility check
of business statistics.
A second development influencing the results of business statistics is the law on the registration
of enterprises coming into force first of July 2008 according to which all enterprises and legal
persons are obliged to register themselves at the Chamber of Commerce. This register is the main
source of information for the general business register of SN. As a consequence, the number of
small enterprises, which were unknown so far, increased, leading to higher estimates for output
and value added in those parts of the economy with relatively many small enterprises.
From this benchmark revision onwards statistics are used which were only partly available or still
in their infancy at the 2001 revision. Between the two revisions, statistics on holdings and intraconcern services (NACE 70.1) became available, leading to an upward adjustment of value added
of 4.5 billion euro in that industry. Statistics on international trade in services have been compiled
by SN from 2003 onwards and are now fully implemented in the NA. For the estimates of local
government and education new sources of information have become available since the last
benchmark revision as well.
The compilation of the NA also relies on statistical information collected outside of SN. The
Central Bank is an important supplier of data on financial institutions and the Balance of Payments. The Central Bank revised its data collection from 2005 onwards. The first results were

2

used during the 2001 benchmark revision. The quality of the data has improved significantly,
resulting in a strong upward level shift of primary income and GNI.

Together with the conceptual changes resulting from the implementation of ESA2010, a benchmark revision was carried out on the basis of the most recent statistical knowledge and source
data.

Both revisions (new concepts and new data sources) of the NA affected important macroeconomic variables and policy indicators: gross domestic product (GDP) is upwardly adjusted by
44.7 billion euros to a total of 631.5 billion euros, an increase of 7.6 per cent. Conceptual adjustments because of ESA2010 and reinterpretation of definitions and concepts add up to 3 per cent.
The remaining 4.6 per cent, corresponding to 27,2 billion euros, is mainly due to the use of the
register based source data. The register data on VAT and payroll taxes, combined with new law
on the registration of small enterprises caused the strong upward level shift of SBS value added.
Gross national income (GNI) is raised by 57.7 billion euros. Over 10 billion euros is caused by
benchmarking on the source data from the Central Bank.
After revision, the government deficit for 2010 amounts to 31.9 billion euros which is 5.0 per
cent of GDP. As both the deficit (numerator) and GDP (denominator) are raised with a similar
percentage, the deficit as percentage of GDP is not affected by the benchmark revision. With an
amount of 372.6 billion euros the level of government debt remains nearly unchanged. Because
of the upward adjustment of GDP, the debt-to-GDP ratio for 2010 was lowered to of 59.0 per
cent. The before revision estimate of the government debt ratio was 63.4 per cent.
As of the 2010 benchmark revision the estimates of wages and salaries and labour input are based
on the register on employers’ tax returns on payroll taxes. This source of information provides a
nearly exhaustive description of wages and salaries paid. Based on this new source compensation
of employees is upwardly adjusted by almost 10 billion euros. The number of jobs increased by
625 thousand, amounting to a total of almost 9.8 million. In terms of hours worked the adjustment is much smaller, because the addition concerns mainly ‘small’ jobs.
1.2 Changes in the revision policy and timetable for finalising the estimates; (domestic) publication date of the submitted results

In addition to the regular revision policy, Statistics Netherlands developed a dedicated publication strategy for the 2010 benchmark revision, which included:
- A press release informing and preparing users for the upcoming revision of NA results due
to conceptual changes, benchmark related changes and changes in European regulations.
The press release also included a timetable. The date of publication was February 10th
2014;
rd
- Stakeholders presentation (under embargo), 3 of March;
1
th2
- Official release of the 2010 revision results on March 6 , “Revisie Nationale Rekeningen
2010: Beschrijving en uitkomsten revisiejaar 2010”:
1

The English edition, “National accounts 2010 benchmark revision” was published on 24th of September.

3

o Press release with main results;
o Press meeting with presentation of main results;
o Publication with an explanatory text on the major changes and with summary tables on Annual National Accounts (including the institutional sector accounts) and
Labour Accounts;
o All outcomes were decomposed into conceptual and benchmark adjustments;
th
- Official release of revision results 2001-2010 on 25 of June, including all data on the website in the online database StatLine in Dutch and English;
th
- Official release of revision results 1995-2000 on 24 of September, including all data on
the website in the online database Statline in Dutch and English.
Furthermore, the regular revision policy and timetable was somewhat changed. On 25th of June
2014 the national accounts figures concerning both output, expenditure, and sector accounts for
2012 and 2013 (provisional figures) and 2011 (final estimates) were published domestically in
StatLine, the electronic database of Statistics Netherlands. For the sector accounts the publication
of the annual figures was accelerated some days to comply with the t+85 deadline, and included
quarterly time series consistent with the new annual estimates and the first quarter of 2014.
The publication ‘Nationale rekeningen 2013’ was available on the website of Statistics Netherlands on 8th of September 2014 (PDF format). The English edition National accounts of the
Netherlands 2013 was released on 22nd of September 2014.
1.3 Results of any investigations on the quality of GNI and its components
Revision analysis

For some time now, revisions of Dutch macro-economic estimates, from flash to final estimates,
have been mapped systematically. This concerns both the size and the sign of the revisions. The
aim is to gain a better understanding of the main causes of the revisions, in order to improve future (provisional) estimates. Although the analysis of revisions mainly relates to volume data
such as economic growth, it is expected that the research projects related to this programme will
also benefit from improved current value estimates. The successive estimates of Dutch national
accounts data are presented on the website of Statistics Netherlands (www.cbs.nl) under: Thema’s, Macro-economie, Methoden, Bijstellingen (only in Dutch). The revision policy for the
Dutch national accounts is explained in section 1.3 of this Quality Report.
Process tables

From 2003 onwards annual process tables have been compiled for the final estimates of the national accounts. However, the tables for 2003 - 2006 were not found satisfactory for various reasons. This led to a new set up of a process tables for the reference year 2007. The results of the
table are presented in two papers:
- ‘Further elaboration of the use of the concept of Process Tables in National Accounts practice’ (part 1 of DG-Eurostat Grant agreement 2008, Theme 01, The Improvement of the
quality of National Accounts No. 20101.2008.002-2008.190).
- ‘Further elaboration of Process Tables and the use of Process Tables as an instrument to
improve National Accounts compilation’ (part 1 of DG-Eurostat Grant agreement 2009,
2

http://www.cbs.nl/nl-NL/menu/themas/macro-economie/methoden/dataverzameling/revisie-2010/default.htm

4

Theme 01, The improvement of the quality of National Accounts No. 20101.2009.0012009.173).
After the ESA2010 benchmark revision, process tables will be produced for the final annual estimates of the supply and use tables including most industries and final expenditure categories.
These process tables systematically describe the compilation process of national accounts figures
from sources to final estimates. These process tables are integrated into the compilation process,
as to further enhance the quality and transparency of our estimates. Further research is currently
undertaken to produce process tables for the remaining industries and final consumption categories (general government, education, health care and government consumption) yet uncovered.
Improvement of the quality of estimates for transactions with the Rest of the World, more specific Special
Purpose Entities

Previous quality reports reviewed the efforts Statistics Netherlands undertook to improve the
(first) estimates of reinvested earnings on foreign direct investment (RIE). The impact of this
item on the (revisions of the) Dutch GNI estimates appeared to be substantial. The cooperation
with the Dutch Central Bank on this subject continues. From January 2012 onwards harmonised
population of Non-Financial Corporations and Special Purpose Entities (SPEs) is used for the
Balance of Payments as compiled by the Dutch Central Bank and for the Statistics on Financial
Corporations. In the past population divergences gave rise to substantial revisions of provisional
figures. This improvement should ameliorate the preliminary estimates of the reporting year 2012
and subsequent reporting years. Another important development is that staff members of Statistics Netherlands (National Accounts and Statistics Financials of Corporations) and the Dutch
Central Bank (Balance of Payments) frequently discuss on a micro level the data transmitted by
the 7 biggest non-financial corporations. These improvements will have no effect on preceding
years.
Apart from the above described initiatives, it is concluded that the quality of the source data is
still insufficient due to non-response for the first annual estimate of the national accounts. At present, these source data is obtained from the Dutch Central Bank in March. At that time most of
the involved companies are not able to report annual data on all crucial variables requested, especially concerning transaction to and from the Rest of the World. Better quality data will become
available in June. In close cooperation with the Dutch Central bank, Statistics Netherlands is
presently analysing the option to introduce this better quality data into the national accounts at a
later stage in the compilation process. The first results of the analysis show that this contributes to
an improvement of the first annual estimate. However, more research is needed to solve planning
and implementation related issues.
1.4 Description of developments in major sources

With the 2010 benchmark revision level estimates of gross national income are up to date, keeping track of all recent developments in major data sources such as e.g. VAT register data etc. For
more information on the sources used, reference is made to Section 3.3 and the GNI inventory
2015 (forthcoming).

Part 2: Changes to sources and methods to final estimates

5

There are no changes to sources and methods to final estimates 2002-2009. Numerical differences are resulting from work on two reservations, which are addressed in section 3.2.

6

Part 3: Revisions to years 2010 to 2012

In addition to the regular revisions of 2011 and 2012, the benchmark revision leads to additional
adjustments in 2010, 2011 en 2012 estimates.
Table 1 shows the differences between the GNI Questionnaires 2014 and 2013 in gross national
income estimations according to ESA1995, representing the reference years 2010, 2011 and
2012. Furthermore, the revisions due to the 11 ESA2010 transitional items and revisions concerning GNI-reservations are made explicit. The remaining revision is due to a mix of benchmark and
routine revisions, for which a further split is not possible. As a consequence, Section 3.1 on routine (current) revisions remains empty.
More information on the GNI-reservations is presented in sections 3.2 (work done) and 4.2
(overview).
Table 1; Update 2010, 2011 and 2012 in the GNI Questionnaire 2014

Gross national income,
market prices

2010
2011
2012

of which due to ….
Quest. 2013 Total
Quest. 2014
11 ESA2010
GNI(ESA95)
revision
… other (ESA2010)
items
Rerservations

of which due to ….
Total
11 ESA2010
GNIrevision
… other
items
Rerservations

mln euro

%

577087
600375
604347

58417
42976
44189

11832
11523
12289

3885
3390
3037

42700
28063
28863

635504
643351
648536

10,1
7,2
7,3

2,1
1,9
2,0

0,7
0,6
0,5

7,4
4,7
4,8

Source: GNP/GNI Questionnaire 2013 and 2014.

Instead, section 3.0 is introduced which presents the quantitative results of the benchmark revision for 2010 and focuses on the adjustments relative to the previous results linked to revision
2001. Appendix A contains the publication tables on GDP (A.1) and on balancing items (A.2)
from the publication “National accounts 2010 benchmark revision”. Please note that figures from
the publication differ from those in Table 1, as the publication tables follow ESA2010 concepts.
Subsequently, as far as possible, a distinction is made between adjustments of a conceptual nature
(section 3.4) versus (a summary of) those that originate from statistical changes (section 3.3).
However, this break-down cannot always be quantified exactly because the impact of the two
causes is sometimes strongly intertwined. Also, it should be noted that a full update of the GNI
inventory, based on ESA 2010, is expected September 2015.
3.0 Quantitative results benchmark revision 2010

As a consequence of the benchmark revision, GDP is upwardly adjusted by 44.7 billion euros and
GNI by 57.7 billion euros. The resulting upward adjustment in the total compensation of employees is 10 billion euros.
Anticipating the exhaustive and detailed process table to be presented in the GNI-inventory next
year, below a preliminary and partially populated process table is presented, showing the link
between SBS-data and the balanced NA-data. For industries not or partially covered by SBS
similar information is not available yet.

7

Table 2: Process table 2010: from SBS to NA-data (billion euro)
Output (basic prices)

Agriculture, forestry and fishing
Mining and quarrying
Manufacturing
Electricity and gas supply

Adjustment
Business to
Other
Balanced
statistics definitions adjustments result
.
.
.
28
20,8
0,0
0,0
20,8
255,3
3,5
-0,4
258,4
17,9
0,1
-0,3
17,8

Water supply and waste management
Construction
Trade, transport, hotels, catering
Information and communication

8,9
86,1
213,2
50,3

0,1
1,7
2,4
0,8

-0,2
-0,2
0,4
0,1

Financial and insurance activities
Real estate activities
Business services
Government and care

.
.
128,6
.

.
.
.

.

76,3
68,7
131,3
186,6

Culture, recreation, other services

.

.

.

26

.

.

.
.
3,2

-0,5

8,8
87,5
215,9
51,3

Intermediate consumption (–)
Agriculture, forestry and fishing
Mining and quarrying
Manufacturing
Electricity and gas supply
Water supply and waste management
Construction
Trade, transport, hotels, catering
Information and communication
Financial and insurance activities
Real estate activities
Business services
Government and care
Culture, recreation, other services

4,4
193,6
10,7
5,1
58,3
105,7
25,1
.
.
59,6
.
.

.
-0,6
-2,9
0,1
0,0
0,3
-1,5
-0,8

.
.

-0,3
0,6
-0,3
0,1
-1,7
1,3
-0,8
.
.

-1,5
.
.

-2,0
.
.

17,1
3,6
191,4
10,5
5,3
57
105,5
23,5
28,6
37,1
56
62,8
11,3

Value added (gross, basic prices)
Agriculture, forestry and fishing
Mining and quarrying
Manufacturing
Electricity and gas supply
Water supply and waste management
Construction
Trade, transport, hotels, catering
Information and communication
Financial and insurance activities
Real estate activities
Business services
Government and care
Culture, recreation, other services

.
16,4
61,7
7,2
3,8
27,7
107,4
25,2
.
.
69,0
.
.

.

.
0,6
6,4
0,1
0,0
1,4
4,0
1,7

.
.

0,3
-1,0
0,1
-0,3
1,4
-0,9
1,0
.
.

4,7
.
.

1,5
.
.

8

10,8
17,3
67
7,3
3,5
30,5
110,5
27,8
47,7
31,6
75,2
123,7
14,6

Table 2 shows that the benchmark revision, which accompanied the ESA 2010 implementation,
led to a reconciliation of source statistics and national accounts estimates.
Gross domestic product
Gross domestic product can be estimated by using three different methods:
- Production method;
- Income method;
- Expenditure method.
Below the adjustments resulting from the benchmark revision are described according to each of
these three methods.
Production method
The benchmark revision gives rise to an upward adjustment of output of 41.7 billion euros. Due
to conceptual changes output is downward adjusted by 6.6 billion euros, which is a balance of
large positive and negative adjustments. The net recording of (inward) ‘goods sent for processing’ significantly lowers the level of output. Outward processing and including illegal activities elevate output levels. However, altered sources and methods are the main cause of the adjustments of output amounting to 48.2 billion euros.
Intermediate consumption is reduced by 2 billion euros. Conceptual changes account for a reduction of 23.8 billion euros. The shift in the recording of expenses on R&D from intermediate consumption to GFCF is an important cause of this reduction, together with the net recording of (the
inward) goods sent for processing. These downward adjustments are only to a little extent compensated by increases in intermediate consumption coming from including illegal activities and
purchases of processing services originating from outward processing. Data improvements are a
second reason for the upward adjustments in intermediate consumption.
The balance of taxes and subsidies on products is increased by 0.2 billion euros. Theoretical
VAT, calculated as the sum of (relevant) transactions times the current rates, is increased because
of the adjustment of intermediate consumption and final expenditure. Therefore also the difference between theoretical VAT and actual VAT has changed. On balance GDP is upwardly adjusted by 44.7 billion euros of which 17.5 billion euros originating from conceptual changes and
27.2 billion euros coming from new statistical insights. Specific adjustments for the main industries are described below.
Agriculture, forestry and fishery
Next to the general changes, output of agriculture, forestry and fishery is upwardly adjusted because of revised estimates of output of electricity in horticulture (300 million) and direct sales of
farmers to households (200 million). Furthermore, the estimates for forestry are upwardly adjusted based on data from the labour accounts.
Mining and quarrying
Based on new information, the estimates for mineral exploration are upwardly adjusted by almost
1.1 billion euros. Secondly, imports of natural gas are no longer re-routed via mining, but directly
attributed to the buyers. This implies a simultaneous reduction of output and intermediate consumption of this industry (1.5 billion euros each).
Manufacturing
The strict application of the principle of economic ownership has substantial effects on output
and intermediate consumption in manufacturing both downwardly (inward processing) and up9

wardly (outward processing). Furthermore, changes caused by adjusting to the state-of-the-art of
business statistics have a significant impact. Also the re-classification of enterprises to the right
NACE-code plays a role in these adjustments.
Electricity and gas supply
From this benchmark revision onwards the recording of the distribution of energy takes place on
a ‘net’ basis, meaning that the output of energy distributors consist only of (trade or distribution)
margins. Until now, SN applied a gross recording including the distributed energy both in output
and intermediate consumption. As a consequence, output and intermediate consumption are reduced by 13.2 billion euros. Until now the estimates for the energy industries were mainly based
on physical data combined with information on prices. Because of individual contracts, hedging
etc. this method appeared to have become invalid, meaning from now on current price estimates
will rely mainly on the (monetary oriented) business statistics.
Water supply and waste management
The revised delineation of the industry ‘general government’ in the SUT implied a shift of part of
waste management from this industry to general government. As a consequence output and intermediate consumption were reduced by 3.3 and 2.2 billion euros respectively.
Construction
Next to the general conceptual changes, implementing revised source statistics is the main cause
for the adjustment of production, intermediate consumption and value added.
Trade, transport, hotels and catering
In addition to the general conceptual changes mentioned in the introduction, at the transport industry a change was made for intra-industry deliveries of services which were until now recorded
on a net basis. In conformity with the guidelines stating that deliveries between enterprises should
be recorded on a gross basis, this has been changed. As a consequence production and intermediate consumption are upwardly adjusted by the same amount. Implementing revised source statistics leads to substantial adjustments in output, intermediate consumption and value added. The
obligation of small enterprises to register with the Chamber of Commerce had a substantial influence on these adjustments.
Information and communication
This industry is only partly covered by business statistics. Especially for film, radio and television SN has to rely on annual reports, numbers of members, etc. in order to make estimates for
this branch. In the IT-branch the influence of the obligation of small enterprises to register with
the Chamber of Commerce is noticeable.
Banking and insurance
FISIM calculations no longer apply to interest transactions between banks (also non-resident
banks). This has reduced output and intermediate consumption in this industry alike. A revised
estimation method for insurance and the gross recording of re-insurance reduces these variables
even further. In addition, the measurement of output of Special Purpose Entities (SPE’s) is
changed to a sum-of-cost method, implying a zero net operating surplus.
Real estate activities
Next to general conceptual changes, the output of this industry is upwardly adjusted by 511 million euros because of the shift of holiday homes originating from hotels and catering. Furthermore, from now on FISIM on mortgages is fully recorded in this industry, implying an increase
of intermediate consumption of 3.6 billion euros. The estimates for imputed rents of owner occupied dwellings have been revised leading to an upward adjustment of output by 1.8 billion euros.
At the same time intermediate consumption was raised by 1 billion euros. Renting of buildings is

10

not covered by business statistics. Output of this industry is therefore estimated applying a commodity flow method, meaning that supply is set equal to demand. As a result of the upward adjustment of output and intermediate consumption in many industries, demand is upwardly adjusted and so is production of rents of buildings.
Business services
The revised recording of R&D has had a substantial influence on the intermediate consumption
of the R&D-industry. Next to that, new business statistics on holdings and intra-concern services
became available with a raise of 9.5 billion euros of output and 5.0 billion euros of intermediate
consumption. Furthermore output has been upwardly adjusted because of the shift of house cleaning from households with paid staff to cleansing services (1.5 billion euros). Implementing revised source statistics leads to substantial adjustments in output, intermediate consumption and
value added. The obligation of small enterprises to register with the Chamber of Commerce had a
substantial influence on these adjustments.
Government and health
In addition to general conceptual changes, the delineation of the government sector and industries
led to the adjustment of output, intermediate consumption and value added. The shift of cleansing
by local government to this industry has led to an increase of all these variables. Implementing
new source data for local government and education gave rise to further adjustments.
Culture, recreation and other services
This industry is only partly covered by business statistics. Especially for sport clubs, political
institutions etc. SN has to rely on annual reports, numbers of members, etc. for making estimates
for his branch.
Households with paid staff
Because of the revised classification of house cleaning and babysitting, output and value added
have been downwardly adjusted by 2.3 billion euros each.
Expenditure method
Consumption of households and non-profit institutions serving households (NPIsh) is upwardly
adjusted by 14.3 billion euros. The inclusion of illegal activities caused an increase of 2.4 billion
euros. This adjustment was countered by 1 billion euros for goods and services used for illegal
output which up to now were assumed to be part of household consumption. Examples are energy
necessary for the growing of cannabis and clothing for prostitutes. The revised delineation of
wages in kind led to an increase of the consumption of households of 1.7 billion euros. Wages in
kind were further adjusted upwardly based on new information from the register on wage taxes.
A decrease of 3.6 billion is caused by the shift of the remaining part of FISIM on mortgages from
consumption of households to intermediate consumption of the fictive industry owner-occupied
dwellings. Consumption of households was upwardly adjusted as a result of improved statistical
information on hotel and catering industry, sports, culture and recreation
Consumption of the government was reduced by 0.9 billion euros, of which 0.7 billion euros due
to a shift from benefits in kind tot benefits in money. Other changes which had effect on government consumption were the revised recording of R&D, premiums for guarantees, the Eurovignet
and the revised estimates of own account GFCF in software. It must be added that the delineation
of collective and individual consumption of government has been revised thoroughly in this
benchmark revision based on the Classification of the Functions of Government (COFOG). Individual consumption has been upwardly adjusted. This mainly concerns services in the field of
sports and recreation.

11

The increase of GFCF by 22.7 billion euros is mainly caused by the revised recording of R&D
(10.9 billion) and the revised estimates of own-accounts investment in software (8.6 billion). The
impact of the revised recording of military goods on balance (investment minus disinvestment)
amounts to 0.4 billion euros. An upward adjustment of the production in construction affected the
estimates of GFCG in buildings and infrastructural works.
The strict application of the transfer of ownership recording has a substantial effect on imports
and exports of goods and services. Goods sent abroad for processing are no longer recorded as
imports and exports of goods. Only the actual payment for the processing fee is recorded in the
NA. The opposite adjustment is found with the recording of merchanting. Until now only the
trade margins realised on merchanting were recorded as an export of services. From the benchmark revision onwards the purchased and sold goods are shown on a gross basis, with the limitation that goods purchased are recorded as negative exports. On balance the impact on exports of
goods equals 5.3 billion euros. Application of the principle of economic ownership reduced the
exports of goods with an amount of 13.2 billion euros. This reduction is partly countered by exports of illegal goods (2.2 billion) and the shift of bunkering from services to goods (3.7 billion)
The import of goods is reduced by 19.8 billion euros, of which 19.9 billion euros is caused by the
strict application of the principle of economic ownership. Illegal activities (1.2 billion) and bunkering (2.9 billion) led to an upward adjustment of the imports of goods. Bringing NA in line
with the source data on foreign trade led to a negative adjustment of imports of goods of 13.9
billion euros.
The effect of the strict application of the principle of economic ownership with foreign trade in
goods has its (upward) counterpart in international trade in services. The impact on exports of
services amounts to 3 billion euros, that of imports of services by 0.8 billion euros. The revised
recording of merchanting (of course) led to a reduction of exports of services of 5.3 billion euros.
Abolishing the imputation of FISIM between banks caused a reduction of imports (-1.5 billion)
and exports (-3.6 billion) of services and also the counterpart of the shift of the recording of bunkering to goods affected the international trade in services.
It has to be stated that at this benchmark revision new source statistics on international trade in
services could be used in full for the estimates of NA. Although the ‘gross’ flows of imports and
exports are substantially reduced, the impact on the trade balance was limited. At this benchmark
revision the trade balance was upwardly adjusted by 5.5 billion euros to arrive at 52.8 billion euros.
Income method
Based on administrative data from the register on tax returns on payroll taxes estimates for wages
were increased by almost 12 billion euros. Employers’ social contributions were estimated 2 billion euros lower than before this benchmark revision, which was mainly caused by a revised estimate of pension premiums. Net other taxes and subsidies on production was reduced by 1.4 billion euros. On balance operating surplus/mixed income was upwardly adjusted by 36.2 billion
euros of which 10.8 billion euros caused by changed registration of R&D and 8.1 billion euros
originating from changes in the estimates of own-account GFCF in software. The extension of the
coverage of GFCF caused an upward adjustment of the consumption of fixed capital by 17.8 billion euros. Finally, net operating surplus/mixed income was upwardly adjusted by 18.9 billion
euros.
Gross national income

12

Gross national income (GNI) was upwardly adjusted by 57.7 billion euros, of which 44.7 billion
euros due to the adjustment of GDP. Of the remaining 13 billion, primary incomes accounted for
10.1 billion euros. The main cause was the use of revised data on primary income as provided by
the Dutch Central Bank, where a new data collection system was implemented.
3.1 Routine (current) revisions

The benchmark revision for 2010 obviously also had a strong impact on the 2011 and 2012 estimates. In addition to the benchmark effects, the routine current revisions stemming from annual
sources and updates of provisional figures have also resulted in changes. A split between benchmark and routine (current) revisions for 2011 and 2012is not possible and therefore this section
remains empty.
3.2 Revisions related to the work on reservations

In the GNI-questionnaire 2014, work has been done on the treatment of cross border property
income and the estimates on illegal activities have been added.
3.2.1 Treatment of cross border property income

Concerning the transversal issue on cross border property income, two issues are addressed by
the Netherlands in this GNP/GNI Questionnaire 2014:
- Improving the treatment of interests and dividends received by Mutual funds
- Clarifying the treatment of income from quasi corporations ("holiday homes").
The estimated retained earnings by foreign MFs on behalf of Dutch shareholders are presented in
table 3, and are also included in the GNI questionnaire 2014. The estimates are based on the assumption that the ratio of retained earnings to dividends of Dutch and foreign MF’s are the same.
Survey data is available for retained earnings of Dutch MF’s and dividends for both Dutch and
foreign MFs on a quarterly basis.

13

Table 3: Cross border investment income atributable
toDutchcollective investment funds shareholders
mlneuro
Year

total
Dividend Retainedearnings
2001
1106
1060
46
2002
969
1103
-134
2003
1225
1180
45
2004
1503
1515
-12
2005
1630
1648
-18
2006
1215
1197
18
2007
1446
1461
-15
2008
4113
3400
713
2009
5094
3061
2033
2010
3091
1604
1487
2011
3664
2663
1001
2012
1845
1499
346
2013
2490
1900
590
Source: revisiondatabase sector accounts Netherlands

The second issue concerns the clarification of the treatment of income from quasi corporations,
more specifically the income obtained by households from holiday homes. The 2002-2009 estimates are explained in the GNI inventory 2001 of The Netherlands as follows:
Income from quasi-corporations (rents) to and from the rest of the world are compiled by the
Dutch Central Bank (DNB) and are included in the balance of payments. The item is an estimate for net revenue from cross-border real estate holdings. It comprises rents paid for land
and buildings, but not for equipment.
Dutch receipts for 2001: 278 mln €, Dutch spending 2001: 357, balance -79.
Source: GNI inventory 2001
In addition to the information obtained from DNB, the estimated household income from holiday
homes is based on information on foreign owned dwellings from the tax office. The information
is collected as part of the income tax assessment forms from 2007 onwards. As a second step, the
income from rents on these dwellings is assumed to be less than 1 per cent of the value of the
foreign owned dwellings. Table 4 summarizes the results, which shows fairly small numbers.

14

Table 4; income from quasi corporations, more specifically holiday homes
Year
mln euro
2002
81
2003
68
2004
68
2005
72
2006
65
2007
72
2008
81
2009
74
2010
78
2011
87
2012
106
2013
91
Source: Sector accounts database 2014, unpublished D.422 households received from
ROW

3.2.2 Treatment of Illegal activities

Table 5 shows the estimates for illegal activities for the period 2002- 2009. The estimates are
based on balanced supply use data for the reporting years 2001 and 2010 and are interpolated
using price and volume changes derived from a study on illegal activities by Rensman et al3 for
the period 1995 – 2008. The interpolation was carried out separately for all illegal activities distinguished in the Dutch NA (see section 3.4.)
Table 5: Impact on GNI due to to transversal reservation VI: Illegal activities

NETHERLANDS
million EUR

2002-2009
As of 22/09/2014

code ESA 95

2002

2003

2004

2005

2006

2007

2008

2009

3093

PRODUCTIONAPPROACH
1 Output of goods and services (at basic prices)

P1

2551

2699

2718

2724

2700

2752

3001

2 Intermediate consumption (at purchasers' prices)

P2

498

537

537

546

585

620

662

673

3 Gross value added (at basic prices)

B1G

2052

2163

2181

2179

2114

2132

2338

2419

0

0

0

0

0

0

0

0

EXPENDITUREAPPROACH
6 Total final consumption expenditure

P3

1113

1061

1133

1042

1050

1072

1274

1325

7

P3

1113

1061

1133

1042

1050

1072

1274

1325

14 Exports of goods and services

P6

1991

2039

2065

2131

2005

2062

2153

2264

15 Imports of goods and services

P7

1052

937

1017

994

941

1002

1089

1170

B2G+B3G

2052

2163

2181

2179

2114

2132

2338

2419

20 Gross domestic product (ESA 95)

B1*G

2052

2163

2181

2179

2114

2132

2338

2419

27 Gross national income (ESA 95)

B5*G

2052

2163

2181

2179

2114

2132

2338

2419

B5*Gex FISIM

2052

2163

2181

2179

2114

2132

2338

2419

Household final consumption expenditure

INCOMEAPPROACH
17 Gross operating surplus and mixed income

29 Gross national income (ESA 95) excluding FISIM allocation

3

Rensman et al , The contribution of illegal activities to national income in the Netherlands, The Hague 2012

15

3.3 Other revisions due to changes in methods and sources

Many changes in source statistics have occurred since the last benchmark revision of the NA over
the reporting year 2001. As a consequence of the continuous attempt of SN to reduce the administrative burden on the business community, statistics are less based on surveys and increasingly
on existing administrative data like tax registers. The information obtained from tax registers is
often less detailed but on the other hand holds a nearly exhaustive coverage of the target population. An important example is the use of VAT declarations in the compilation of business statistics. In the past samples were grossed up to the target population as registered in the general
business register. Nowadays total turnover from the VAT-declarations is used as target for grossing up. A second important administrative source used in this benchmark revision is the tax returns on payroll taxes. This register represents a key source for the estimation of wages and the
number of employee jobs in the NA and is also used as a plausibility check of business statistics.
A second development influencing the results of business statistics is the law on the registration
of enterprises coming into force first of July 2008 according to which all enterprises and legal
persons are obliged to register themselves at the Chamber of Commerce. This register is the main
source of information for the general business register of SN. As a consequence, the number of
small enterprises, which were unknown so far, increased, leading to higher estimates for output
and value added in those parts of the economy with relatively many small enterprises.
Within SN a special large and complex cases unit has been established for collecting data for
large multinational companies. In addition to understanding and mapping the often complicated
structures of such companies, judgements on economic ownership of output and assets plays an
important role in constituting the collection of consistent information. This approach provided
new insights and adjustments for business and foreign trade statistics.
From this benchmark revision onwards statistics are used which were only partly available or still
in their infancy at the 2001 revision. Between the two revisions, statistics on holdings and intraconcern services (NACE 70.1) became available, leading to an upward adjustment of value added
of 4.5 billion euro in that industry. Statistics on international trade in services have been compiled
by SN from 2003 onwards and are now fully implemented in the NA. For the estimates of local
government and education new sources of information have become available since the last
benchmark revision as well.
The compilation of the NA also relies on statistical information collected outside of SN. The
Central Bank is an important supplier of data on financial institutions and the Balance of Payments. The Central Bank revised its data collection from 2005 onwards. The first results were
used during the 2001 benchmark revision. Since then, the quality of the data has improved significantly, resulting in a strong upward level shift of primary income and GNI.
Last but not least it must be mentioned that during the period between two benchmark revisions
the classification of a number of establishments has been changed. Because of the comparability
in time these changes are not always taken in account in the NA. The benchmark revision was
used to (re)classify all establishments according to their present NACE-class.

16

In addition to the calibration of the NA on source statistics, new ‘models’ have been introduced
for estimating output, intermediate consumption, value added and parts of final expenditure. New
models were needed especially for those areas of the economy for which limited (financial) data
are available. Examples are imputed rents for owner-occupied dwellings and industries like
sports, culture and recreation. For estimating the latter, annual reports, the number of members
and other volume type of information is used.
3.4 Revisions due to the transition from ESA 95 to ESA 2010

This section provides an overview table on the impact of changes from ESA 95 to ESA 2010 on
the GNI Questionnaire for all transition items for a chosen year. For each transitional item identified as having an impact on GNI in the Manual on the Changes between ESA 95 and ESA 2010
(i.e. Transitional Items 1-11) a detailed description of the calculation for a chosen year is provided, including numerical evidence.
Table 6: Transition from ESA2010 to ESA95
GNI QUESTIONNAIRE 2014

NETHERLANDS

Table 2: Transition from ESA2010 to ESA95
2010 - 2013

million EUR

As of 22/09/2014
Total impact of differences in definitions between
ESA2010 and ESA95 on GNI

2010

2011

2012

2013

11832

11523

12289

12683

7848
2973
245
-54
624
0
0
0
196
0
0
0

7841
3050
243
-534
633
0
0
0
289
0
1
0

7821
3108
229
219
655
0
0
0
257
0
0
0

7805
3158
226
574
660
0
0
0
260
0
0
0

(ESA2010 minus ESA95)
Of which:
(1a) R&D created by a market producer
(1b) R&D created by a non-market producer
(2) Valuation of output for own final use for market producers
(3) Non-life insurance - Output, claims due to catastrophes, and reinsurance
(4) Weapon systems in government recognised as capital assets
(5) Decommissioning costs for large capital assets
(6) Government, public and private sector classification
(7) Small tools
(8) VAT-based third EU own resource
(9) Index-linked debt instruments
(10) Central Bank - allocation of output
(11) Land improvements recognised as a separate asset

1. R&D created by a market producer/
This section describes the R&D estimation process for 2011.
Estimates of gross fixed capital formation in R&D are mainly based on three source statistics, i.e.
the R&D survey, government data on universities and data from health statistics. Total output of
R&D reported by these source statistics amounts to 12.2 billion euros. As a consequence of a
redesign of source statistics on R&D based on the reporting year 2011, the upwardly adjusted
estimates for the NA-benchmark revision 2010 were extrapolated backwards from 2011.An adjustment in output of minus 0.3 billion euros was made in response to differences in definitions,
double counting for own account production of software and balancing.

17

…by
… by
Table 7: Overview of supply and use of
Total market producer non-market producer
R&D 2011 (billion €)
Domestic supply
11.9
Imports of services
1.5
Total supply
13.4
7.8
3.1
Intermediate consumption
Exports of services
Gross fixed capital formation
Total use

0.4
1.6
11.4
13.4

7.8

3.1

Data on imports en exports of R&D are derived from statistics on foreign trade in services. Intermediate consumption of R&D-industry (Nace 72000) is derived from business statistics and
concerns subcontracting of R&D-activities.
Gross fixed capital formation of R&D by market producers account for 7.8 billion euros.
The contribution to GDP of non-market producers (3.1 billion €) comes from R&D related consumption of fixed capital as estimated by the PIM.
2. Valuation of output for own final use by market producers
The estimate of the mark-up on output for own final use (mainly software) by market producers
is estimated as 5% of own account GFCF on software, amounting 4.9 billion euros. The 5%
mark-up corresponds to the percentage of gross operating surplus, adjusted for mixed income, in
total costs in IT-services industry.
3 Non-life insurance output, claims due to catastrophes and re-insurance
The use of adjusted claims in the calculation of output of insurance has an impact on GDP.
In the example below the calculation of adjusted claims is shown.
Table 8: Calculation of adjusted claims 2006-2010 (mln euro)

Indemnity insurance

Health insurance

Actual claims
Adjusted claims
Difference
Actual claims
Adjusted claims
Difference

Impact on output
2006
2007
8.485
8.710

Price index

18

2008
9.071

2009
9.199

3.344

3.144

3.218

3.215

2006
0,984

2007
1,022

2008
1,051

2009
1,032

2010
9.294
9.476
182
3.552
3.496
-56

2010
1,02

Firstly actual claims are adjusted for price changes. As there were no disasters the adjusted
claims are calculated applying a five-year moving average.
This approach is used for all types of (re-) insurance.
The data for the revised recording of premium supplements in re-insurance are directly derived
from statistics provided by the Central Bank.
(4) Weapon systems in government recognised as capital assets
As statistics Netherlands has access to the data on expenditure of the government including defence, GFCF in military equipment can be obtained directly from government data.
The impact on GDP equals consumption of fixed capital which is estimated using the PIMmethod.
(5) Decommissioning costs for large capital assets
At present decommissioning costs for large assets are already included in GFCF. This implies
that accounting for consumption of fixed capital of these assets is done ex post instead of ex ante.
We lack information on the basis of which decommission costs can reasonable be estimated ex
ante. As a result we simply assumed that in the course of time ex ante and ex post CFC cancel
out, implying a zero impact on GNI.
(6) Government, public and private sector classification
The delineation of government was subject of research in the benchmark revision of the Dutch
NA. Only a few very small units were reclassified of which the total impact is close to zero.
(7) Small tools
No changes were made in the benchmark revision of the Dutch NA. The standing practice of following the bookkeeping of companies in this regard is continued after the ESA2010 revision.
(8) VAT-based third EU own resource
The data on VAT-based third EU own resource are directly derived from government data.
(9) Index-linked debt instruments
No changes were made in the benchmark revision of the Dutch NA. Information on index-linked
debt instruments is scarce. Based on pension funds statistics, 25 per cent of total bond assets of
pension funds (177 billion €) is index linked, and some 80 per cent is emitted by the rest of the
world. For the calculation of the index linked change in the principal value, relevant for interest following ESA4.46c, access to micro data on contracts is needed. Unfortunately, this information is not available.
Furthermore, pension funds statistics are the only statistics including a split of total fixed income
securities.
One can make a calculation of the impact to interest of index-linked bonds assuming a fictitious
rate of 2%, in 2013, which, assuming the bond has a fixed coupon, would increase the interest
received by pension funds from ROW by some 700 mln euro. Other sectors may also have index
linked debt instruments as part of their assets. On the other hand, foreign residents may own domestically issued index linked debt instruments. Foreign residents actually own more Dutch
bonds than Dutch residents own foreign bonds. Information on the value change due to an index
link received by ROW is not available.
19

Given the lack of data sources at present, the net interest as a result of index-linked bonds is assumed to be 0.
(10) Central Bank - allocation of output
10% of the relevant output (2010: 5 million euros) is allocated to export of services. As no data
are available on exports of this type of output, the 10% is an expert guess.
(11) Land improvements recognised as a separate asset
No changes were made in the benchmark revision of the Dutch NA, as land improvement was
already recorded as GFCF under ESA1995.

20

Part 4: Revisions related to reservations
Section 4.1: Revisions related to GNP reservations (1995-2001)

No reservations for the Netherlands for these years.
Section 4.2: Revisions related to GNI reservations (2002-2010)

In the notification 27th of January 2012, the European Commission states that the verification
process for the Netherlands is completed. The process has revealed four specific reservations
concerning the reliability, comparability and exhaustiveness of the GNI of the Netherlands:
• The estimation of own-account construction and small-scale building maintenance needs
to be based on more recent benchmark data (applicable to years from 2002 to 2010).
• The payments for the use of motorways (Eurovignette) should be reclassified from taxes
on production to transactions in services (applicable to years from 2002 to 2010)4.
• In the context of the use of foreign trade statistics for national accounts, the estimation of
"re-exports" and of "transit trade" transactions needs to be based on more recent benchmark data (applicable to years from 2002 to 2010).
• The estimation of imports and exports of government services needs to be based on more
recent administrative sources (applicable to years from 2002 to 2010).
The Commission notified the Dutch authorities that it reserved its position as to the accuracy of
GNI on the above points relating to the years indicated for each point.
Included in the GNI questionnaire 2012 are corrections to make amends with the first three specific reservations. After verification, the Commission considered that first three specific reservations were properly addressed, and decided to lift the specific reservations.
Included in the GNI questionnaire 2013 are corrections to make amends with the fourth specific
reservation. Also for this point, the Commission considered that the final specific reservations
was properly addressed, and has lifted the specific reservation.
In addition to the specific reservations, the impact on GNI due to illegal activities has been added. Furthermore, the estimates of own-account construction for 2010, 2011 and 2012 have been
updated. Table 9 shows the estimates and update of the GNI-reservations in the GNIquestionnaire 2013 and 2014.

4
See: Eurostat guidance on accounting rules for EDP. Classification of payments for the use of roads, 13 March
2008

21

Table 9: Updates of GNI-reservations
GNIC 2013

GNIC 2014

Updates GNIreservations

mln euro

2010 2011 2012

2010 2011 2012

2010 2011 2012

Illegal activities
Treatment of cross border property income
Construction
Eurovignet (motorways)
Foreign trade in goods
Import and exports of government services
total

.
.

2402 2368 2636
1487 1001 346
-111 -110 -96
-142 -116 -118
-588 -588 -588
137 246 211
3185 2801 2391

2402 2368 2636
1487 1001 346
-4 21 55
0
0
0
0
0
0
0
0
0
3885 3390 3037

.
.

.
.

-107 -131 -151
-142 -116 -118
-588 -588 -588
137 246 211
-700 -589 -646

Source: GNP/GNI Questionnaire 2013 and 2014.

22

Appendix A: National accounts 2010 benchmark revision results

Table A.1 shows Gross Domestic Product 2010, before and after the benchmark revision. De difference is split into the categories “conceptual’ and “sources and methods”.
TABLE A.1 The three approaches of domestic product, 2010
Before revision

After revision

Difference
Total

Conceptual

Sources and
methods

mln euro
From the output
Output (basic prices)
Intermediate consumption (excl. deductible VAT) (–)

1137 237
613 117

1178 924
611167

41687
– 1950

– 6 570
– 23 792

48 257
21842

Value added (gross, basic prices)
Taxes less subsidies on products
Taxes on products
Subsidies on products (–)
Difference imputed and paid VAT

524 120
62 796
66 462
3 666
– 127

567 757
63 016
66 567
3 551
739

43 637
220
105
– 115
866

17 222
260
100
– 160
–

26 415
– 40
5
45
866

Domestic product (gross, market prices)

586 789

631512

44 723

17 482

27 241

Compensation of employees
Wages and salaries
Employers' social contributions
Taxes on production and imports less subsidies
Taxes on production and imports
Subsidies (–)
Operating surplus / mixed income (gross)
Consumption of fixed capital
Operating surplus / mixed income (net)

300 491
234 552
65 939
63 454
73 549
10 095
222 844
89 725
133 119

310 471
246 542
63 929
62 036
73 329
11293
259 005
106 982
152 023

9 980
11990
– 2 010
– 1418
– 220
1198
36 161
17 257
18 904

1719
1719
–
– 155
– 155
–
15 918
17 831
– 1913

8 261
10 271
– 2 010
– 1263
– 65
1198
20 243
– 574
20 817

Domestic product (gross, market prices)

586 789

631512

44 723

17 482

27 241

Final consumption expenditure
General government
Households incl. NPIs serving households
Fixed capital formation (gross)
Corporations, households and NPIs serving households
General government
Changes in inventories 1)
Exports of goods and services
Goods
Services
Imports of goods and services (–)
Goods
Services

435 169
166 970
268 199
101885
80 548
21337
2 452
461717
361676
100 041
414 434
319 826
94 608

449 742
167 232
282 510
124 649
98 442
26 207
4 308
454 398
360 296
94 102
401585
300 067
101518

14 573
262
14 311
22 764
17 894
4 870
1856
– 7 319
– 1380
– 5 939
– 12 849
– 19 759
6 910

– 1869
– 915
– 954
20 286
14 139
6 147
135
– 10 999
– 2 006
– 8 993
– 9 929
– 5 853
– 4 076

16 442
1177
15 265
2 478
3 755
– 1277
1721
3 680
626
3 054
– 2 920
– 13 906
10 986

Domestic product (gross, market prices)

586 789

631512

44 723

17 482

27 241

From the generation of income

From the final expenditure

1) Including acquisitions less disposals of valuables.
Source: Table 1"National accounts 2010 benchmark revision", 24th september 2014

23

Table A.2 shows balancing items 2010, before and after the benchmark revision. De difference is
split into the categories “conceptual’ and “sources and methods”.
TABLE A.2 Balancing items from domestic product to national net lending or net borrowing, 2010

Before revision

After revision

Difference
Total

Conceptual

Sources and
methods

mln euro
Domestic product (gross, market prices)
Net primary income from the rest of the world
Primary income from the rest of the world
Compensation of employees
Property income
Subsidies from the rest of the world (EU)
Primary income to the rest of the world (–)
Compensation of employees
Property income
Taxes on production and imports to
the rest of the world

586 789
– 9 002
209 011
1099
207 013
899
218 013
5 432
210 395

631512
3 992
224 343
1099
222 349
895
220 351
5 532
212 851

44 723
12 994
15 332
–
15 336
–4
2 338
100
2 456

17 482
2 141
4 508
–
4 508
–
2 367
–
2 563

27 241
10 853
10 824
–
10 828
–4
– 29
100
– 107

2 186

1968

– 218

– 196

– 22

National income (gross, market prices)
Consumption of fixed capital (–)

577 787
89 725

635 504
106 982

57 717
17 257

19 623
17 831

38 094
– 574

National income (net, market prices)
Net current transfers from the rest of the world
Current transfers from the rest of the world
Current taxes on income and wealth
Social contributions
Social benefits (in cash)
Other current transfers
Current transfers to the rest of the world (–)
Current taxes on income and wealth
Social contributions
Social benefits (in cash)
Other current transfers

488 062
– 8 870
9 375
843
1529
248
6 755
18 245
689
284
2 304
14 968

528 522
– 9 302
10 017
3 628
1858
248
4 283
19 319
1725
284
2 471
14 839

40 460
– 432
642
2 785
329
–
– 2 472
1074
1036
–
167
– 129

1792
– 758
123
–
–
–
123
881
–
–
685
196

38 668
326
519
2 785
329
–
– 2 595
193
1036
–
– 518
– 325

Disposable national income (net)
Final consumption expenditure (–)
Adjustment for net equity in pension funds reserves
(surplus of the nation)

479 192
435 169

519 220
449 742

40 028
14 573

1034
– 1869

38 994
16 442

154

– 295

– 449

–

– 449

National saving (net)
Fixed capital formation (net) (–)
Changes in inventories (–) 1)

44 177
12 160
2 452

69 183
17 667
4 308

25 006
5 507
1856

2 903
2 455
135

22 103
3 052
1721

Surplus of the nation on current transactions
Net exports
Goods
Services
Net primary income
Received
Paid (–)
Net current transfers
Received
Paid (–)
Adjustment for net equity in pension funds reserves
(surplus of the nation)

29 565
47 283
41850
5 433
– 9 002
209 011
218 013
– 8 870
9 375
18 245

47 208
52 813
60 229
– 7 416
3 992
224 343
220 351
– 9 302
10 017
19 319

17 643
5 530
18 379
– 12 849
12 994
15 332
2 338
– 432
642
1074

313
– 1070
3 847
– 4 917
2 141
4 508
2 367
– 758
123
881

17 330
6 600
14 532
– 7 932
10 853
10 824
– 29
326
519
193

154

– 295

– 449

–

– 449

Net capital transfers from the rest of the world
Capital transfers from the rest of the world
Capital transfers to the rest of the world (–)

– 3 259
2 436
5 695

– 1890
896
2 786

1369
– 1540
– 2 909

–
–
–

1369
– 1540
– 2 909

–

703

703

–

703

26 306
211406
186 223
1123

46 021
198 240
156 241
4 022

19 715
– 13 166
– 29 982
2 899

313

19 402

Acquisitions less disposals of non-produced non-financial assets
National net lending (+) or net borrowing (–)
Change in assets on the rest of the world
Change in liabilities to the rest of the world (–)
Statistical discrepancy

1) Including acquisitions less disposals of valuables.
Source: Table 2 "National accounts 2010 benchmark revision", 24th september 2014

24