Transactions

1.33 A transaction is an economic flow that is an interaction (see paragraph 1.42.) between institutional units by mutual agreement or an action within an institutional unit that it is useful to treat as a transaction, often because the unit is operating in two different capacities. It is convenient to divide transactions into four main groups:

1. transactions in products:

   which describe the origin (domestic output or imports) and use (intermediate consumption, final consumption, capital formation or exports) of products ;

2. distributive transactions:

   which describe how value added generated by production is distributed to labour, capital and government, and the redistribution of income and wealth (taxes on income and wealth and other transfers) ;

3. financial transactions:

   which describe the net acquisition of financial assets or the net incurrence of liabilities for each type of financial instrument. Such transactions often occur as counterparts of non-financial transactions, but they may also occur as transactions involving only financial instruments ;

4. transactions not included in the three groups above:

   consumption of fixed capital and acquisitions less disposals of non-produced non financial assets .