Table 8.17 Account 0: Goods and services account

8.78 The purpose of the goods and services account is to show, by product group and for the total economy, how the products available are used.

8.79 It therefore shows, by product group and for the total economy, the resources (output and imports) and the uses of goods and services (intermediate consumption, final consumption, gross fixed capital formation, changes in inventories, acquisitions less disposals of valuables, exports).

8.80 Given the way in which output is valued at basic prices and uses at purchaser’s prices, taxes less subsidies on products must be included in the resources section.

8.81 Uses are recorded on the right-hand side of the goods and services account and resources on the left, i.e. on the opposite side from that used in the current accounts for the institutional sectors, since the product flows are the counterparts of the monetary flows.

8.82 The goods and services account is by definition in balance and therefore has no balancing item.