Legalize / European Union / Regulation

Council Regulation (EC) No 2223/96 of 25 June 1996 on the European system of national and regional accounts in the Community

Type Regulation

Publication 1996-06-25

Last updated 2013-07-01

State In force

Department Council of the European Union

Source EUR-Lex

articles 9

Reform history JSON API

24.

The ESA regards an employer operating an unfunded scheme as making an imputed contribution to the scheme on behalf of his employees. This imputed social contribution (D.122) is part of compensation to employees and is shown as payable by the employer in the generation of income account and receivable by households in the allocation of primary income account. The employer's imputed contribution is shown again in the secondary distribution of income account as item D.612, payable by households and receivable by the employer. The amount of this contribution should be determined by reference to the employer's future obligations to provide benefits. In practice, however, the contribution is usually set equal to benefits payable in the current period (less employees' social contributions).

25.

Actual contributions by employees, if any, are shown as part of D.6112, payable by households and receivable by the employer's sector. The secondary distribution of income account also shows pensions and other benefits as part of D.62, receivable by households and payable by the employer.

Unfunded social insurance schemes obviously belong to the same institutional sector as the employer in question. NACE Rev. 2 regards them as an ancillary activity.

26.

If a resident works for a non-resident employer operating an unfunded social insurance scheme, all transactions are between the household sector and the rest of the world, recorded in the external account of primary incomes and current transfers. If a non-resident works for a resident employer operating such a scheme, all transactions are between the rest of the world and the employer's sector, shown in the external account of primary incomes and current transfers.

An example of the flows recorded for unfunded social insurance schemes operated by employers is shown in Table A.III.3.

Other insurance

27.	The output of other insurance services, both life and non-life, is calculated as (B): actual premiums earned plus premium supplements less claims due less increases (plus decreases) in technical provisions against outstanding risks and technical provisions for with-profits insurance.
	actual premiums earned
plus	premium supplements
less	claims due
less	increases (plus decreases) in technical provisions against outstanding risks and technical provisions for with-profits insurance.

28.

Actual premiums earned are the actual premiums that cover the risks incurred during the current period. Actual premiums earned are usually not equal to actual premiums receivable, as the latter often cover risks incurring in both the current and subsequent periods.

Premium supplements are identical to property income attributed to policyholders, which is the entire income earned by insurance enterprises by investing their insurance technical reserves, excluding any income from insurance enterprises' own funds. Insurance technical reserves contain two elements: (a) prepayments of insurance premiums and reserves for outstanding claims, arising from the difference between premiums earned and premiums receivable and between claims payable and claims due, and (b) technical provisions against outstanding risks and technical provisions for with-profits insurance. The latter element applies only to life insurance. Insurance technical reserves are usually invested in financial assets which yield income in the form of interest or dividends. However, these reserves may also be invested in real estate, for example, in which case income is earned as operating surplus.

29.

Claims due cover events that occur within the current period. Frequently, claims do not become payable until a later period than when the event giving rise to them occurred. Claims due are therefore not equal to claims payable.

Changes in technical provisions against outstanding risks and technical provisions for with-profits insurance consist of allocations to technical provisions against outstanding risks and provisions for with-profits insurance policies to build up the capital sums guaranteed under these policies. These provisions relate to life insurance only. All four items in equation (B) should be measured excluding holding gains and losses.

30.

Total output of other life insurance is calculated according to equation (B) and shown as item P.1 in the production account of the insurance enterprises and pension funds subsector. Unless consumed by non-resident households, the output of other life insurance is entirely used as final consumption by resident households. The output of life insurance services should be distributed between the household sector and the rest of the world in proportion to premiums payable by resident and non-resident households. Life insurance services consumed by residents are shown as part of households' final consumption expenditure (P.3), while services consumed by non-residents are part of exports of services (P.62).

31.

Two further transactions are recorded for other life insurance. In the allocation of primary income account, property income attributed to policyholders (part of D.4) is shown as payable by the insurance enterprises' sector and receivable by households. In the financial account, the item net equity of households in life insurance reserves is shown as a change (negative if necessary) in households' assets and life insurance enterprises' liabilities. The change in the net equity of households is due to changes in life insurance reserves, that is technical provisons against outstanding risks and technical provisions for with-profits insurance (F.611). The change in net equity therefore equals actual premiums payable (not earned) plus premium supplements less claims receivable (not due) and less service charge.

32.

Because of this entry in the financial account, F.611 is also shown in the balance sheets of the household sector (as an asset) and the insurer's sector (as a liability).

As with the service charge, property income attributed to policyholders (= premium supplements) should be distributed between the household sector and the rest of the world in proportion to premiums. Institutionally, life insurance enterprises are classified in S.125 ‘Insurance corporations and pension funds’. The activity classification according to NACE Rev. 2 is class 65.11 ‘Life insurance’.

33.

When a resident life insurance enterprise provides services to non-resident households, the service charge is recorded as exports of services (P.62). Property income attributed to policyholders is shown as payable by the insurance sector and receivable by the rest of the world in the external account of primary incomes and current transfers. The change in net equity of non-resident households on life insurance reserves is shown in the financial account of the rest of the world as a change in the rest of the world's assets and the insurance sector's liabilities.

When resident households purchase cover from non-resident life insurers, the procedure is in principle straightforward: the service charge is recorded as imports of services (P.72), attributed property income is shown in the external account of primary incomes and current transfers as payable by the rest of the world and receivable by households, and change in net equity is shown as a change in households' assets and the rest of the world's liabilities. However, the data required to calculate these items are normally not available; usually only premiums payable are known. Assumptions are therefore necessary, for example applying the ratios of service charge to premiums and attributed property income to premiums for resident life insurers to the premiums paid by resident households to non-resident life insurers. An example of the flows recorded for other life insurance is shown in Table A.III.4.

34.

The output (P.1) of other non-life insurance enterprises is calculated according to equation (B) and shown in the production account of the insurance enterprises and pension funds subsector. Non-life insurance services may be used as intermediate consumption (P.2) by any resident sector, as final consumption by the household sector when they are part of households' final consumption expenditure (P.3), or as exports (P.62). Non-life insurance services used as intermediate consumption should be broken down by industry.

Equation (B) should be used to estimate the total value of non-life insurance output. The output should then be distributed among user sectors and industries in proportion to actual premiums payable by each sector. Whereas all resident sectors except households use non-life insurance services for intermediate consumption only, the household sector uses them for both final and intermediate consumption. Households' use of non-life insurance services should be broken down into intermediate and final consumption in proportion to actual premiums payable. Premiums clearly associated with the productive activity of unincorporated enterprises should be regarded as related to intermediate consumption, while the remaining premiums paid by households should be considered as being related to final consumption.

35.

In the allocation of primary income account, property income attributed to policyholders is recorded as part of D.4, payable by the insurance sector and receivable by the policyholder sectors. Ideally, property income attributed to policyholders should be distributed among sectors in proportion to the reserves attributed to each policyholder sector, but this is hardly feasible in practice. Property income attributed to policyholders should therefore be distributed in proportion to actual premiums paid by each policyholder sector.

36.

In the secondary distribution of income account net premiums earned are shown as payable by all policyholder sectors and receivable by the insurance sector. Net premiums earned are calculated as actual premiums earned plus property income attributed to policyholders less the value of services consumed. By equation (B), net premiums earned equal claims due (¹¹²). The secondary distribution of income account also shows claims due as payable by the insurance sector and receivable by all policyholder sectors. Both net premiums earned and claims due are part of item D.7, ‘Other current transfers’.

Some claims arise because of damage or injuries that the policyholder causes to the property or persons of third parties. In such cases, valid claims are recorded as being payable directly by the insurance enterprise to the injured parties and not indirectly via the policyholder.

37.

In the financial account, net equity of policyholders in non-life insurance reserves is shown as a change in assets of policyholder sectors and a change in liabilities of the insurance sector. The change in net equity, classified as F.62, is due to prepayments of premiums and reserves for outstanding claims. F.62 also appears as a liability in the non-life insurer's balance sheet and an asset in policyholders' balance sheets.

Non-life insurance enterprises belong to NACE Rev. 2 class 65.12 ‘Non-life insurance’. Their institutional sector is S.125, ‘Insurance corporations and pension funds’.

38.

When non-resident units purchase cover from resident non-life insurers, the service charge is shown as exports of services (P.62). Property income attributed to policyholders, net premiums earned and claims due are all recorded in the external account of primary incomes and current transfers, while net equity of policyholders in non-life insurance reserves is shown in the financial account of the rest of the world. In this case, the calculations for the rest of the world are no more difficult than those for any resident policyholder sector.

When resident units are insured by non-resident non-life insurers, the data situation is far more difficult; only data on premiums payable and claims receivable are normally available. A simplified method, ignoring non-life insurance reserves and their subsequent property income, is therefore used: the service charge, which is recorded as imports of services (P.72), is calculated as premiums payable less claims receivable (¹¹³). Net premiums payable are calculated as premiums payable less service charge, thus equalling claims receivable. Both net premiums payable and claims receivable are shown in the external account of primary incomes and current transfers. An example of the flows recorded for other non-life insurance is shown in Table A.III.5.

Reinsurance

39.

The ESA records reinsurance transactions in a simpler way than direct insurance transactions (the latter meaning transactions between insurance enterprises and ordinary policyholders). Instead of showing the flows involved (premiums earned, claims due, commissions, etc.) separately, reinsurance transactions are simply shown as a service delivered from reinsurer to direct insurer. The value of this service is measured as the balance of all flows occurring between reinsurer and direct insurer.

For resident life and non-life insurance enterprises, reinsurance services produced are shown as output (P.1), while reinsurance services received are shown as intermediate consumption (P.2). Reinsurance services delivered from resident reinsurers to non-resident insurers are shown as exports of services (P.62), while services delivered from non-resident reinsurers to resident insurers are recorded as imports of services (P.72).

40.

For resident insurance enterprises data on output and intermediate consumption of reinsurance services can be obtained from insurance statistics. Calculating imports and exports of reinsurance services may be more difficult, depending mainly on the availability and quality of balance of payments statistics. However, the external balance of reinsurance services can easily be derived from insurance statistics.

Reinsurance transactions between resident insurance enterprises are often consolidated. However, in order to be in accordance with the EC insurance directives, the ESA recommends reinsurance services be recorded without consolidation. Whether or not reinsurance services between residents are consolidated affects the level of output of insurance services, but balancing items such as value added, operating surplus and saving are not affected.

Insurance auxiliaries

41.

The output of auxiliary insurance services is valued on the basis of the fees or commissions charged. In the case of non-profit institutions operating as business associations for insurance enterprises and pension funds, their output is valued by the amounts of subscriptions paid by the members of the associations. This output is used as intermediate consumption by the members of the associations.

Institutional units principally engaged in auxiliary insurance activities are classified in S.124, ‘Financial auxiliaries’. The activity classification according to NACE Rev. 2 is group 66.2, ‘Activities auxiliary to insurance and pension funding’.

INSURANCE: NUMERICAL EXAMPLE

Uses	Resources
Total	Corresponding entries of the	S.1 Total economy	S.15 PISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 PISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the world account	Rest of the world account	Goods and services account
										Generation of income account
155		0	155	8	0	45	4	98	D.121	Employers' social security contributions
										Distribution of primary income account
									D.121	Employers' social security contributions				155		155	0		155
										Secondary distribution of income account
155		0	155		155				D.6111	Employers' social security contributions			155			155	0		155
76		0	76		76				D.6112	Employees' social security contributions			76			76	0		76
32			32		32				D.6113	Social contributions by self-employed and non-employed persons			32			32	0		32
232		0	232			232			D.621	Social security benefits in cash				232		232	0		232
										Redistribution of income in kind account
78			78			78			D.6311	Social security benefits in kind, reimbursements				78		78			78
65			65			65			D.6312	Other social security benefits in kind				65		65			65
Uses	Resources
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Total	Corresponding entries of the	S.1 Total economy	S.15 PISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 PISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the world account	Rest of the world account	Goods and services account
										External account
0		0							P.6	Exports of goods and services								0	0
0	0								P.7	Imports of goods and services							0		0
										Production account
3	3								P.1	Output		3				3			3
										Generation of income account
19		0	19	2	0	3	0	14	D.121	Employers' actual social contributions to private funded schemes
										Allocation of primary income account
									D.121	Employers' actual social contributions to private funded schemes				19		19	0		19
12		0	12				12		D.44	Property income attributable to insurance policyholders				12		12	0		12
										Secondary distribution of income account
19		0	19		19				D.121	Employers' actual social contributions to private funded schemes	1	18	0	0	0	19	0		19
21		0	21		21				D.6112	Employees' net social contributions	1	20	0	0	0	21	0		21
29		0	29	0	0	0	28	1	D.622	Private funded benefits				29		29	0		29
										Use of disposable income account									0
3			3		3			0	P.3	Final consumption expenditure								3	3
11		0	11	0		0	10	1	D.8	Adjustment for the change in net equity of households in pension funds reserves				11		11	0		11
										Financial account
11			11		11				F.612	Net equity of households in pension funds reserves	1	10	0		0	11	0		11
1			1		1				F.62	Prepayments of insurance premiums and reserves for outstanding claims		1				1			1

A.III.3 — Unfunded schemes operated by employers

Uses	Resources
Total	Corresponding entries of the	S.1 Total economy	S.15 PISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 PISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the world account	Rest of the world account	Goods and services account
										Generation of income account
19		0	19	1	0	5	1	12	D.122	Employers, imputed social contributions
										Distribution of primary income account
									D.122	Employers, imputed social contributions				19		19	0	19
										Secondary distribution of income account
19		0	19		19				D.612	Imputed social contributions	12	1	5	0	1	19	0	19
19		0	19	1	0	5	1	12	D.623	Unfunded employee social benefits				19		19	0	19

A.III.4 — Other life insurance

Uses	Resources
Total	Corresponding entries of the	S.1 Total economy	S.15 PISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 PISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the world account	Rest of the world account	Goods and services account
										External account
0		0							P.6	Exports of goods and services								0	0
0	0								P.7	Imports of goods and services							0		0
										Production account
4	4								P.1	Output		4				4			4
										Distribution of primary income account
7			7				7		D.44	Property income attributable to insurance policyholders				7		7	0		7
										Use of disposable income account
4		0	4		4				P.3	Final consumption expenditure								4	4
										Financial account
22		0	22		22				F.611	Net equity of households in life insurance reserves		22				22	0		22

A.III.5 — Other non-life insurance

Uses	Resources
Total	Corresponding entries of the	S.1 Total economy	S.15 PISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 PISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the world account	Rest of the world account	Goods and services account
										External account
0		0							P.6	Exports of goods and services								0	0
0	0								P.7	Imports of goods and services							0		0
										Production account
6	6								P.1	Output		6				6			6
4		0	4	0	3	0	0	1	P.2	Intermediate consumption								4	4
										Distribution of primary income account
6			6				6		D.44	Property income attributable to insurance policyholders	5	0	0	1	0	6	0		6
										Secondary distribution of income account
45		2	43	0	31	4	0	8	D.71	Net non-life insurance premiums		45				45			45
45		0	45				45		D.72	Non-life insurance claims	6	0	1	35	0	42	3		45
										Use of disposable income account
2			2		2				P.3	Final consumption expenditure								2	2
										Financial account
2		0	2	0	2	0	0	0	F.62	Prepayments of insurance premiums and reserves for outstanding claims		2				2			2

ANNEX IV

CLASSIFICATIONS

CLASSIFICATION OF INSTITUTIONAL SECTORS (S)

S.1	Total economy
S.11	Non-financial corporations
S.11001	Public non-financial corporations
S.11002	National private non-financial corporations
S.11003	Foreign controlled non-financial corporations
S.12	Financial corporations
S.121	The Central Bank
S.122	Other monetary financial institutions
S.12201	Public
S.12202	National private
S.12203	Foreign controlled
S.123	Other financial intermediaries, except insurance corporations and pension funds
S.12301	Public
S.12302	National private
S.12303	Foreign controlled
S.124	Financial auxiliaries
S.12401	Public
S.12402	National private
S.12403	Foreign controlled
S.125	Insurance corporations and pension funds
S.12501	Public
S.12502	National private
S.12503	Foreign controlled
S.13	General government
S.1311	Central government
S.1312	State government
S.1313	Local government
S.1314	Social security funds
S.14	Households
S.141 + S.142	Employers (including own-account workers)
S.143	Employees
S.1441	Recipients of property income
S.1442	Recipients of pensions
S.1443	Recipients of other transfer incomes
S.145	Other households
S.15	Non-profit institutions serving households
S.2	Rest of the world
S.21	The European Union
S.211	The member countries of the EU
S.212	The institutions of the EU
S.22	Third countries and international organisations

CLASSIFICATION OF TRANSACTIONS AND OTHER FLOWS

P.1	Output
P.11	Market output
P.119	Adjustment Fisim
P.12	Output for own final use
P.13	Other non-market output

P.131	Payments for the other non-market output
P.132	Other non-market output, other

P.2	Intermediate consumption
P.3	Final consumption expenditure
P.31	Individual consumption expenditure
P.32	Collective consumption expenditure
P.4	Actual final consumption
P.41	Actual individual consumption
P.42	Actual collective consumption
P.5	Gross capital formation
P.51	Gross fixed capital formation
P.511	Acquisitions less disposals of tangible fixed assets
P.5111	Acquisitions of new tangible fixed assets
P.5112	Acquisitions of existing tangible fixed assets
P.5113	Disposals of existing tangible fixed assets
P.512	Acquisitions less disposals of intangible fixed assets
P.5121	Acquisitions of new intangible fixed assets
P.5122	Acquisitions of existing intangible fixed assets
P.5123	Disposals of existing intangible fixed assets
P.513	Addition to the value of non-financial non-produced assets
P.5131	Major improvements to non-financial non-produced assets
P.5132	Costs of ownership transfer on non-financial non-produced assets
P.52	Changes in inventories
P.53	Acquisitions less disposals of valuables
P.6	Exports of goods and services
P.61	Exports of goods
P.62	Exports of services
P.7	Imports of goods and services
P.71	Imports of goods
P.72	Imports of services
D.1	Compensation of employees
---	---
D.11	Wages and salaries
D.12	Employers' social contributions
D.121	Employers' actual social contributions
D.122	Employers' imputed social contributions
D.2	Taxes on production and imports
D.21	Taxes on products
D.211	Value-added type taxes (VAT)
D.212	Taxes and duties on imports excluding VAT
D.2121	Import duties
D.2122	Taxes on imports excluding VAT and import duties
D.214	Taxes on products, except VAT and import taxes
D.29	Other taxes on production
D.3	Subsidies
D.31	Subsidies on products
D.311	Import subsidies
D.319	Other subsidies on products
D.39	Other subsidies on production
D.4	Property income
D.41	Interest
D.42	Distributed income of corporations
D.421	Dividends
D.422	Withdrawals from income of quasi-corporations
D.43	Reinvested earnings on direct foreign investment
D.44	Property income attributed to insurance policy holders
D.45	Rents
D.5	Current taxes on income, wealth, etc.
D.51	Taxes on income
D.59	Other current taxes
D.6	Social contributions and benefits
D.61	Social contributions
D.611	Actual social contributions
D.6111	Employers' actual social contributions
D.61111	Compulsory employers' actual social contributions
D.61112	Voluntary employers' actual social contributions
D.6112	Employees' social contributions
D.61121	Compulsory employees' social contributions
D.61122	Voluntary employees' social contributions
D.6113	Social contributions by self- and non-employed persons
D.61131	Compulsory social contributions by self- and non-employed persons
D.61132	Voluntary social contributions by self- and non-employed persons
D.612	Imputed social contributions
D.62	Social benefits other than social transfers in kind
D.621	Social security benefits in cash
D.622	Private funded social benefits
D.623	Unfunded employee social benefits
D.624	Social assistance benefits in cash
D.63	Social transfers in kind
D.631	Social benefits in kind
D.6311	Social security benefits, reimbursements
D.6312	Other social security benefits in kind

D.63121	Other social security benefits in kind provided by market producers
D.63122	Other social security benefits in kind provided by non-market producers

D.6313	Social assistance benefits in kind

D.63131	Social assistance benefits in kind provided by market producers
D.63132	Social assistance benefits in kind provided by non-market producers

D.632	Transfers of individual non-market goods and services
D.7	Other current transfers
D.71	Net non-life insurance premiums
D.72	Non-life insurance claims
D.73	Current transfers within general government
D.74	Current international cooperation
D.75	Miscellaneous current transfers
D.8	Adjustment for the change in net equity of households in pension funds reserves
D.9	Capital transfers
D.91	Capital taxes
D.92	Investment grants
D.99	Other capital transfers

D.995	Capital transfers from general government to relevant sectors representing taxes and social contributions assessed but unlikely to be collected
D.99521	Taxes on products assessed but unlikely to be collected
D.99529	Other taxes on production assessed but unlikely to be collected
D.99551	Taxes on income assessed but unlikely to be collected
D.99559	Other current taxes assessed but unlikely to be collected
D.9956111	Employers' actual social contributions assessed but unlikely to be collected
D.9956112	Employees' social contributions assessed but unlikely to be collected
D.9956113	Social contributions by self- and unemployed persons assessed but unlikely to be collected
D.99591	Capital taxes assessed but unlikely to be collected

F.1	Monetary gold and special drawing rights (SDRs)
---	---
F.11	Monetary gold
F.12	Special drawing rights (SDRs)
F.2	Currency and deposits
F.21	Currency
F.22	Transferable deposits
F.29	Other deposits
F.3	Securities other than shares
F.33	Securities other than shares, excluding financial derivatives
F.331	Short-term-securities other than shares, excluding financial derivatives
F.332	Long-term-securities other than shares, excluding financial derivatives
F.34	Financial derivatives
F.4	Loans ()
F.41	Short-term loans
F.42	Long-term loans
F.5	Shares and other equity ()
F.51	Shares and other equity, excluding mutual fund shares
F.511	Quoted shares
F.512	Unquoted shares
F.513	Other equity
F.52	Mutual fund shares
F.6	Insurance technical reserves
F.61	Net equity of households in life insurance reserves and in pension fund reserves
F.611	Net equity of households in life insurance reserves
F.612	Net equity of households in pension fund reserves
F.62	Prepayments of insurance premiums and reserves for outstanding claims
F.7	Other accounts receivable/payable ()
F.71	Trade credits and advances
F.79	Other accounts receivable/payable, except trade credits and advances
(¹) Memo item: F.m: direct foreign investment.
K.1	Consumption of fixed capital
---	---
K.2	Acquisitions less disposals of non-financial non-produced assets
K.21	Acquisitions less disposals of land and other tangible non-produced assets
K.211	Acquisitions of land and other tangible non-produced assets
K.212	Disposals of land and other tangible non-produced assets
K.22	Acquisitions less disposals of intangible non-produced assets
K.221	Acquisitions of intangible non-produced assets
K.222	Disposals of intangible non-produced assets
K.3	Economic appearance of non-produced assets
K.4	Economic appearance of produced assets
K.5	Natural growth of non-cultivated biological resources
K.6	Economic disappearance of non-produced assets
K.61	Depletion of natural economic assets
K.62	Other economic disappearance of non-produced assets
K.7	Catastrophic losses
K.8	Uncompensated seizures
K.9	Other volume changes in non-financial assets n.e.c.
K.10	Other volume changes in financial assets and liabilities n.e.c.
K.11	Nominal holding gains/losses
K.11.1	Neutral holding gains/losses
K.11.2	Real holding gains/losses
K.12	Changes in classifications and structure
K.12.1	Changes in sector classification and structure
K.12.2	Changes in classification of assets and liabilities
K.12.21	Monetization/demonetization of gold
K.12.22	Changes in classification of assets or liabilities other than monetization/demonetization of gold

CLASSIFICATION OF BALANCING ITEMS (¹¹⁴) (B)

B.1	*Value-added/B.1 Domestic product**
B.2	Operating surplus
B.3	Mixed income
B.4	Entrepreneurial income
B.5	*Balance of primary incomes/B.5 National income**
B.6	Disposable income
B.7	Adjusted disposable income
B.8	Saving
B.9	Net lending/net borrowing
B.10	Changes in net worth
B.10.1	Changes in net worth due to saving and capital transfers (), ()
B.10.2	Changes in net worth due to other changes in volume of assets
B.10.3	Changes in net worth due to nominal holding gains/losses
B.10.31	Changes in net worth due to neutral holding gains/losses
B.10.32	Changes in net worth due to real holding gains/losses
B.11	External balance of goods and services
B.12	Current external balance
B.90	Net worth
BF.90	Net financial assets
(¹) ‘Changes in net worth due to saving and capital transfers’ is not a balancing item in the structure of the system. It is the total of the right side of the capital account. However, as a significant component of changes in net worth, it is coded with the other components of the latter. (²) ‘Changes in net worth due to saving and capital transfers’ for the rest of the world refers to changes in net worth due to current external balance and capital transfers.

CLASSIFICATION OF ASSETS (A)

AN.1	Produced assets
AN.11	Fixed assets
AN.111	Tangible fixed assets
AN.1111	Dwellings
AN.1112	Other buildings and structures
AN.11121	Non-residential buildings
AN.11122	Other structures
AN.1113	Machinery and equipment
AN.11131	Transport equipment
AN.11132	Other machinery and equipment
AN.1114	Cultivated assets
AN.11141	Livestock for breeding, dairy, draught, etc.
AN.11142	Vineyards, orchards and other plantations of trees yielding repeat products
AN.112	Intangible fixed assets
AN.1121	Mineral exploration
AN.1122	Computer software
AN.1123	Entertainment, literary or artistic originals
AN.1129	Other intangible fixed assets
AN.12	Inventories
AN.121	Materials and supplies
AN.122	Work in progress
AN.1221	Work in progress on cultivated assets
AN.1222	Other work in progress
AN.123	Finished goods
AN.124	Goods for resale
AN.13	Valuables
AN.131	Precious metals and stones
AN.132	Antiques and other art objects
AN.139	Other valuables
AN.2	Non-produced assets
AN.21	Tangible non-produced assets
AN.211	Land
AN.2111	Land underlying buildings and structures
AN.2112	Land under cultivation
AN.2113	Recreational land and associated surface water
AN.2119	Other land and associated surface water
AN.212	Subsoil assets
AN.2121	Coal, oil and natural gas reserves
AN.2122	Metallic mineral reserves
AN.2123	Non-metallic mineral reserves
AN.213	Non-cultivated biological resources
AN.214	Water resources
AN.22	Intangible non-produced assets
AN.221	Patented entities
AN.222	Leases and other transferable contracts
AN.223	Purchased goodwill
AN.229	Other intangible non-produced assets
AF.1	Monetary gold and drawing rights (SDRs)
---	---
AF.11	Monetary gold
AF.12	Special drawing rights (SDRs)
AF.2	Currency and deposits
AF.21	Currency
AF.22	Transferable deposits
AF.29	Other deposits
AF.3	Securities other than shares
AF.33	Securities other than shares, excluding financial derivatives
AF.331	Short-term securities other than shares, excluding financial derivatives
AF.332	Long-term securities other than shares, excluding financial derivatives
AF.34	Financial derivatives
AF.4	Loans ()
AF.41	Short-term loans
AF.42	Long-term loans
AF.5	Shares and other equity ()
AF.51	Shares and other equity, excluding mutual fund shares
AF.511	Quoted shares
AF.512	Unquoted shares
AF.513	Other equity
AF.52	Mutual fund shares
AF.6	Insurance technical reserves
AF.61	Net equity of households in life insurance reserves and in pension fund reserves
AF.611	Net equity of households in life insurance reserves
AF.612	Net equity of households in pension fund reserves
AF.62	Prepayments of insurance premiums and reserves for outstanding claims
AF.7	Other accounts receivable/payable
AF.71	Trade credits and advances
AF.79	Other accounts receivable/payable, except trade credits and advances
(¹) Memorandum item AF.m: direct foreign investment.

REGROUPING AND CODING OF INDUSTRIES (A), PRODUCTS (P) AND FIXED ASSETS (FIXED CAPITAL FORMATION) (AN)

Seq. No	NACE Rev. 2 sections	Description
1	A	Agriculture, forestry and fishing
2	B, C, D, E and F	Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply; sewerage, waste management and remediation activities; construction
3	G, H, I, J, K, L, M, N, O, P, Q, R, S, T and U	Services
Seq. No	NACE Rev. 2 sections	Description
---	---	---
1	A	Agriculture, forestry and fishing
2	B, C, D and E	Mining and quarrying; manufacturing; electricity, gas, steam and air conditioning supply; water supply; sewerage, waste management and remediation activities
2a	C	of which: manufacturing
3	F	Construction
4	G, H and I	Wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities
5	J	Information and communication
6	K	Financial and insurance activities
7	L	Real estate activities
8	M and N	Professional, scientific and technical activities; administrative and support service activities
9	O, P, and Q	Public administration and defence; compulsory social security; education; human health and social work activities
10	R, S, T and U	Arts, entertainment and recreation, repair of household goods and other services
Seq. No	NACE Rev. 2 section	NACE Rev. 2 divisions
---	---	---
1	A	01-03
2	B	05-09
3	C	10-33
4	D	35
5	E	36-39
6	F	41-43
7	G	45-47
8	H	49-53
9	I	55-56
10	J	58-63
11	K	64-66
12	L	68
13	M	69-75
14	N	77-82
15	O	84
16	P	85
17	Q	86-88
18	R	90-93
19	S	94-96
20	T	97-98
21	U	99
Seq. No	NACE Rev. 2 divisions	Description
---	---	---
1	01-03	Agriculture, forestry and fishing
2	05-09	Mining and quarrying
3	10-12	Manufacture of food products, beverages and tobacco products
4	13-15	Manufacture of textiles, wearing apparel and leather products
5	16-18	Manufacture of wood and paper products, and printing
6	19	Manufacture of coke and refined petroleum products
7	20	Manufacture of chemicals and chemical products
8	21	Manufacture of basic pharmaceutical products and pharmaceutical preparations
9	22-23	Manufacture of rubber and plastic products, and other non-metallic mineral products
10	24-25	Manufacture of basic metals and fabricated metal products, except machinery and equipment
11	26	Manufacture of computer, electronic and optical products
12	27	Manufacture of electrical equipment
13	28	Manufacture of machinery and equipment n.e.c.
14	29-30	Manufacture of transport equipment
15	31-33	Manufacture of furniture; other manufacturing; repair and installation of machinery and equipment
16	35	Electricity, gas, steam and air-conditioning supply
17	36-39	Water supply; sewerage, waste management and remediation activities
18	41-43	Construction
19	45-47	Wholesale and retail trade; repair of motor vehicles and motorcycles
20	49-53	Transportation and storage
21	55-56	Accommodation and food service activities
22	58-60	Publishing, audiovisual and broadcasting activities
23	61	Telecommunications
24	62-63	Computer programming, consultancy and related activities; information service activities
25	64-66	Financial and insurance activities
26	68	Real estate activities
26a		of which: imputed rents of owner-occupied dwellings
27	69-71	Legal and accounting activities; activities of head offices; management consultancy activities; architectural and engineering activities; technical testing and analysis
28	72	Scientific research and development
29	73-75	Advertising and market research; other professional, scientific and technical activities; veterinary activities
30	77-82	Administrative and support service activities
31	84	Public administration and defence; compulsory social security
32	85	Education
33	86	Human health activities
34	87-88	Social work activities
35	90-93	Arts, entertainment and recreation
36	94-96	Other service activities
37	97-98	Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use
38	99	Activities of extraterritorial organisations and bodies
Seq. No	NACE Rev. 2 divisions	Description
---	---	---
1	01	Crop and animal production, hunting and related service activities
2	02	Forestry and logging
3	03	Fishing and aquaculture
4	05-09	Mining and quarrying
5	10-12	Manufacture of food products, beverages and tobacco products
6	13-15	Manufacture of textiles, wearing apparel and leather products
7	16	Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
8	17	Manufacture of paper and paper products
9	18	Printing and reproduction of recorded media
10	19	Manufacture of coke and refined petroleum products
11	20	Manufacture of chemicals and chemical products
12	21	Manufacture of basic pharmaceutical products and pharmaceutical preparations
13	22	Manufacture of rubber and plastic products
14	23	Manufacture of other non-metallic mineral products
15	24	Manufacture of basic metals
16	25	Manufacture of fabricated metal products, except machinery and equipment
17	26	Manufacture of computer, electronic and optical products
18	27	Manufacture of electrical equipment
19	28	Manufacture of machinery and equipment n.e.c.
20	29	Manufacture of motor vehicles, trailers and semi-trailers
21	30	Manufacture of other transport equipment
22	31-32	Manufacture of furniture; other manufacturing
23	33	Repair and installation of machinery and equipment
24	35	Electricity, gas, steam and air conditioning supply
25	36	Water collection, treatment and supply
26	37-39	Sewerage; waste collection, treatment and disposal activities; materials recovery; remediation activities and other waste management services
27	41-43	Construction
28	45	Wholesale and retail trade and repair of motor vehicles and motorcycles
29	46	Wholesale trade, except of motor vehicles and motorcycles
30	47	Retail trade, except of motor vehicles and motorcycles
31	49	Land transport and transport via pipelines
32	50	Water transport
33	51	Air transport
34	52	Warehousing and support activities for transportation
35	53	Postal and courier activities
36	55-56	Accommodation; food and beverage service activities
37	58	Publishing activities
38	59-60	Motion picture, video and television programme production, sound recording and music publishing activities; programming and broadcasting activities
39	61	Telecommunications
40	62-63	Computer programming, consultancy and related activities; information service activities
41	64	Financial service activities, except insurance and pension funding
42	65	Insurance, reinsurance and pension funding, except compulsory social security
43	66	Activities auxiliary to financial services and insurance activities
44	68	Real estate activities
44a		of which: imputed rents of owner-occupied dwellings
45	69-70	Legal and accounting activities; activities of head offices; management consultancy activities
46	71	Architectural and engineering activities; technical testing and analysis
47	72	Scientific research and development
48	73	Advertising and market research
49	74-75	Other professional, scientific and technical activities; veterinary activities
50	77	Rental and leasing activities
51	78	Employment activities
52	79	Travel agency, tour operator reservation service and related activities
53	80-82	Security and investigation activities; services to buildings and landscape activities; office administrative, office support and other business support activities
54	84	Public administration and defence; compulsory social security
55	85	Education
56	86	Human health activities
57	87-88	Social work activities
58	90-92	Creative, arts and entertainment activities; libraries, archives, museums and other cultural activities; gambling and betting activities
59	93	Sports activities and amusement and recreation activities
60	94	Activities of membership organisations
61	95	Repair of computers and personal and household goods
62	96	Other personal service activities
63	97-98	Activities of households as employers; undifferentiated goods- and services-producing activities of households for own use
64	99	Activities of extraterritorial organisations and bodies
Seq. No	CPA 2008 sections	Description
---	---	---
1	A	Products of agriculture, forestry and fishing
2	B, C, D, E and F	Mining and quarrying; manufactured products; electricity, gas, steam and air conditioning; water supply; sewerage, waste management and remediation services; constructions and construction works
3	G, H, I, J, K, L, M, N, O, P, Q, R, S, T and U	Services
Seq. No	CPA 2008 sections	Description
---	---	---
1	A	Products of agriculture, forestry and fishing
2	B, C, D and E	Mining and quarrying; manufactured products; electricity, gas, steam and air conditioning; water supply; sewerage, waste management and remediation services
2a	C	of which: manufactured products
3	F	Constructions and construction works
4	G, H and I	Wholesale and retail trade services; repair services of motor vehicles and motorcycles; transportation and storage services; accommodation and food services
5	J	Information and communication services
6	K	Financial and insurance services
7	L	Real estate services
8	M and N	Professional, scientific and technical services; administrative and support services
9	O, P, and Q	Public administration and defence services; compulsory social security services; education services; human health and social work services
10	R, S, T and U	Arts, entertainment and recreation services, repair of household goods and other services
Seq. No	CPA 2008 section	CPA 2008 divisions
---	---	---
1	A	01-03
2	B	05-09
3	C	10-33
4	D	35
5	E	36-39
6	F	41-43
7	G	45-47
8	H	49-53
9	I	55-56
10	J	58-63
11	K	64-66
12	L	68
13	M	69-75
14	N	77-82
15	O	84
16	P	85
17	Q	86-88
18	R	90-93
19	S	94-96
20	T	97-98
21	U	99
Seq. No	CPA 2008 divisions	Description
---	---	---
1	01-03	Products of agriculture, forestry and fishing
2	05-09	Mining and quarrying
3	10-12	Food products, beverages and tobacco products
4	13-15	Textiles, wearing apparel and leather products
5	16-18	Wood and paper products, and printing services
6	19	Coke and refined petroleum products
7	20	Chemicals and chemical products
8	21	Basic pharmaceutical products and pharmaceutical preparations
9	22-23	Rubber and plastics products, and other non-metallic mineral products
10	24-25	Basic metals and fabricated metal products, except machinery and equipment
11	26	Computer, electronic and optical products
12	27	Electrical equipment
13	28	Machinery and equipment n.e.c.
14	29-30	Transport equipment
15	31-33	Furniture; other manufactured goods; repair and installation services of machinery and equipment
16	35	Electricity, gas, steam and air-conditioning
17	36-39	Water supply; sewerage, waste management and remediation services
18	41-43	Constructions and construction works
19	45-47	Wholesale and retail trade services; repair services of motor vehicles and motorcycles
20	49-53	Transportation and storage services
21	55-56	Accommodation and food services
22	58-60	Publishing, audiovisual and broadcasting services
23	61	Telecommunications services
24	62-63	Computer programming, consultancy and related services; information services
25	64-66	Financial and insurance services
26	68	Real estate services
26a		of which: imputed rents of owner-occupied dwellings
27	69-71	Legal and accounting services; services of head offices; management consulting services; architectural and engineering services; technical testing and analysis services
28	72	Scientific research and development services
29	73-75	Advertising and market research services; other professional, scientific and technical services; veterinary services
30	77-82	Administrative and support services
31	84	Public administration and defence services; compulsory social security services
32	85	Education services
33	86	Human health services
34	87-88	Social work services
35	90-93	Arts, entertainment and recreation services
36	94-96	Other services
37	97-98	Services of households as employers; undifferentiated goods and services produced by households for own use
38	99	Services provided by extraterritorial organisations and bodies
Seq. No	CPA 2008 divisions	Description
---	---	---
1	01	Products of agriculture, hunting and related services
2	02	Products of forestry, logging and related services
3	03	Fish and other fishing products; aquaculture products; support services to fishing
4	05-09	Mining and quarrying
5	10-12	Food products; beverages; tobacco products
6	13-15	Textiles; wearing apparel; leather and related products
7	16	Wood and of products of wood and cork, except furniture; articles of straw and plaiting materials
8	17	Paper and paper products
9	18	Printing and recording services
10	19	Coke and refined petroleum products
11	20	Chemicals and chemical products
12	21	Basic pharmaceutical products and pharmaceutical preparations
13	22	Rubber and plastics products
14	23	Other non-metallic mineral products
15	24	Basic metals
16	25	Fabricated metal products, except machinery and equipment
17	26	Computer, electronic and optical products
18	27	Electrical equipment
19	28	Machinery and equipment n.e.c.
20	29	Motor vehicles, trailers and semi-trailers
21	30	Other transport equipment
22	31-32	Furniture; other manufactured goods
23	33	Repair and installation services of machinery and equipment
24	35	Electricity, gas, steam and air conditioning
25	36	Natural water; water treatment and supply services
26	37-39	Sewerage services; sewage sludge; waste collection, treatment and disposal services; materials recovery services; remediation services and other waste management services
27	41-43	Constructions and construction works
28	45	Wholesale and retail trade and repair services of motor vehicles and motorcycles
29	46	Wholesale trade services, except of motor vehicles and motorcycles
30	47	Retail trade services, except of motor vehicles and motorcycles
31	49	Land transport services and transport services via pipelines
32	50	Water transport services
33	51	Air transport services
34	52	Warehousing and support services for transportation
35	53	Postal and courier services
36	55-56	Accommodation and food services
37	58	Publishing services
38	59-60	Motion picture, video and television programme production services, sound recording and music publishing; programming and broadcasting services
39	61	Telecommunications services
40	62-63	Computer programming, consultancy and related services; information services
41	64	Financial services, except insurance and pension funding
42	65	Insurance, reinsurance and pension funding services, except compulsory social security
43	66	Services auxiliary to financial services and insurance services
44	68	Real estate services
44a		of which: imputed rents of owner-occupied dwellings
45	69-70	Legal and accounting services; services of head offices; management consulting services
46	71	Architectural and engineering services; technical testing and analysis services
47	72	Scientific research and development services
48	73	Advertising and market research services
49	74-75	Other professional, scientific and technical services; veterinary services
50	77	Rental and leasing services
51	78	Employment services
52	79	Travel agency, tour operator and other reservation services and related services
53	80-82	Security and investigation services; services to buildings and landscape; office administrative, office support and other business support services
54	84	Public administration and defence services; compulsory social security services
55	85	Education services
56	86	Human health services
57	87-88	Residential care services; social work services without accommodation
58	90-92	Creative, arts and entertainment services; library, archive, museum and other cultural services; gambling and betting services
59	93	Sporting services and amusement and recreation services
60	94	Services furnished by membership organisations
61	95	Repair services of computers and personal and household goods
62	96	Other personal services
63	97-98	Services of households as employers; undifferentiated goods and services produced by households for own use
64	99	Services provided by extraterritorial organisations and bodies
Asset category	Description
---	---
AN.1111	dwellings
AN.1112	other buildings and structures
AN.11131	transport equipment
AN.11132	other machinery and equipment
AN.1114	cultivated assets
AN.112	intangible fixed assets
Asset category	Description
---	---
AN.1111	dwellings
AN.1112	other buildings and structures
AN.11131	transport equipment
AN.11132	other machinery and equipment
of which: AN.111321	office machinery and hardware
of which AN.111322	radio, TV and communication equipment
AN.1114	cultivated assets
AN.112	intangible fixed assets
of which: AN.1122	computer software

CLASSIFICATION OF INDIVIDUAL CONSUMPTION BY PURPOSE (COICOP)

1.1. Food

1.2. Non-alcoholic beverages

2.1. Alcoholic beverages

2.2. Tobacco

2.3. Narcotics

3.1. Clothing

3.2. Footwear

4.1. Actual rentals for housing

4.2. Imputed rentals for housing

4.3. Maintenance and repair of the dwelling

4.4. Water supply and miscellaneous services relating to the dwelling

4.5. Electricity, gas and other fuels

5.1. Furniture and furnishings, carpets and other floor coverings

5.2. Household textiles

5.3. Household appliances

5.4. Glassware, tableware and household utensils

5.5. Tools and equipment for house and garden

5.6. Goods and services for routine household maintenance

6.1. Medical products, appliances and equipment

6.2. Outpatient services

6.3. Hospital services

7.1. Purchase of vehicles

7.2. Operation of personal transport equipment

7.3. Transport services

8.1. Postal services

8.2. Telephone and fax equipment

8.3. Telephone and fax services

9.1. Audio-visual, photographic and information processing equipment

9.2. Other major durables for recreation and culture

9.3. Other recreational items and equipment, gardens and pets

9.4. Recreational and cultural services

9.5. Newspapers, books and stationery

9.6. Package holidays

10.1. Pre-primary and primary education

10.2. Secondary education

10.3. Post-secondary non-tertiary education

10.4. Tertiary education

10.5. Education not definable by level

11.1. Catering services

11.2. Accommodation services

12.1. Personal care

12.2. Prostitution

12.3. Personal effects n.e.c.

12.4. Social protection

12.5. Insurance

12.6. Financial services n.e.c.

12.7. Other services n.e.c.

13.1. Housing

13.2. Health

13.3. Recreation and culture

13.4. Education

13.5. Social protection

13.6. Other services

14.1. Housing

14.2. Health

14.3. Recreation and culture

14.4. Education

14.5. Social protection

CLASSIFICATION OF THE FUNCTIONS OF THE GOVERNMENT (COFOG)

1.1. Executive and legislative organs, financial and fiscal affairs, external affairs

1.2. Foreign economic aid

1.3. General services

1.4. Basic research

1.5. R & D general public services

1.6. General public services n.e.c.

1.7. Public debt transactions

1.8. Transfers of a general character between different levels of government

2.1. Military defence

2.2. Civil defence

2.3. Foreign military aid

2.4. R & D defence

2.5. Defence n.e.c.

3.1. Police services

3.2. Fire-protection services

3.3. Law courts

3.4. Prisons

3.5. R & D public order and safety

3.6. Public order and safety n.e.c.

4.1. General economic, commercial and labour affairs

4.2. Agriculture, forestry, fishing and hunting

4.3. Fuel and energy

4.4. Mining, manufacturing and construction

4.5. Transport

4.6. Communication

4.7. Other industries

4.8. R & D economic affairs

4.9. Economic affairs n.e.c.

5.1. Waste management

5.2. Waste water management

5.3. Pollution abatement

5.4. Protection of biodiversity and landscape

5.5. R & D environmental protection

5.6. Environmental protection n.e.c.

6.1. Housing development

6.2. Community development

6.3. Water supply

6.4. Street lighting

6.5. R & D housing and community amenities

6.6. Housing and community amenities n.e.c.

7.1. Medical products, appliances and equipment

7.2. Outpatient services

7.3. Hospital services

7.4. Public health services

7.5. R & D health

7.6. Health n.e.c.

8.1. Recreational and sporting services

8.2. Cultural services

8.3. Broadcasting and publishing services

8.4. Religious and other community services

8.5. R & D recreation, culture and religion

8.6. Recreation, culture and religion n.e.c.

9.1. Pre-primary and primary education

9.2. Secondary education

9.3. Post-secondary non-tertiary education

9.4. Tertiary education

9.5. Education not definable by level

9.6. Subsidiary services to education

9.7. R & D education

9.8. Education n.e.c.

10.1. Sickness and disability

10.2. Old age

10.3. Survivors

10.4. Family and children

10.5. Unemployment

10.6. Housing

10.7. Social exclusion n.e.c.

10.8. R & D social protection

10.9. Social protection n.e.c.

CLASSIFICATION OF THE PURPOSES OF NON-PROFIT INSTITUTIONS SERVING HOUSEHOLDS (COPNI)

1.0. Housing

2.1. Medical products, appliances and equipment

2.2. Outpatient services

2.3. Hospital services

2.4. Public health services

2.5. R & D health

2.6. Other health services

3.1. Recreational and sporting services

3.2. Cultural services

4.1. Pre-primary and primary education

4.2. Secondary education

4.3. Post-secondary non-tertiary education

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