CONTENTS

FOREWORD

NOTE ON THIS VERSION OF ESA95

SUMMARY

CONTENTS

LIST OF ABBREVIATIONS AND ACRONYMS

CHAPTER 1 GENERAL FEATURES

THE USES OF THE ESA

Framework for analysis and policy
Eight characteristics of ESA concepts
The 1995 ESA and the 1993 SNA
The 1995 ESA and the 1970 ESA
THE ESA AS A SYSTEM
Statistical units and their groupings
Institutional units and sectors
Local kind-of-activity units and industries
Resident and non-resident units; total economy and rest of the world
Flows and stocks
Flows
Transactions
Properties of transactions
Interactions versus intra-unit transactions
Monetary versus non-monetary transactions
Transactions with and without counterparts
Rearranged transactions
Rerouting
Partitioning
Recognising the principal party to a transaction
Borderline cases
Other changes in assets
Other changes in the volume of assets and liabilities
Holding gains and losses
Stocks
The system of accounts an the aggregates
Rules of accounting
Terminology for the two sides of the accounts
Double entry/quadruple entry
Valuation
Special valuations concerning products
Valuation at constant prices
Time of recording
Consolidation and netting
Consolidation
Netting
Accounts, balancing items and aggregates
The sequence of accounts
The goods and services account
The rest of the world account
Balancing items
Aggregates
The input-output framework

CHAPTER 2 UNITS AND GROUPINGS OF UNITS

THE LIMITS OF THE NATIONAL ECONOMY
THE INSTITUTIONAL UNITS
THE INSTITUTIONAL SECTORS
Non-financial corporations (S.11)
Sub-sector: Public non-financial corporations (S.11001)
Sub-sector: National private non-financial corporations (S.11002)
Sub-sector: Foreign controlled non-financial corporations (S.11003)
Financial corporations (S.12)
Sub-sector: The central bank (S.121)
Sub-sector: Other monetary financial institutions (S.122)
Sub-sector: Other financial intermediaries, except insurance corporations and pension funds (S.123)
Sub-sector: Financial auxiliaries (S.124)
Sub-sector: Insurance corporations and pension funds (S.125)
General government (S.13)
Sub-sector: Central government (S.1311)
Sub-sector: State government (S.1312)
Sub-sector: Local government (S.1313)
Sub-sector: Social security funds (S.1314)
Households (S.14)
Sub-sector: Employers (including own-account workers) (S.141+S.142)
Sub-sector: Employees (S.143)
Sub-sector: Recipients of property incomes (S.1441)
Sub-sector: Recipients of pensions (S.1442)
Sub-sector: Recipients of other transfer incomes (S.1443)
Sub-sector: Others (S. 145)
Non-profit institutions serving households (S.15)
Rest of the world (S.2)
Sector classification of producers units for main standard legal forms of ownership
LOCAL KIND-OF-ACTIVITY UNITS AND INDUSTRIES
The local kind-of-activity unit
The industry
classIFICATION OF INDUSTRIES
UNITS OF HOMOGENEOUS PRODUCTION AND HOMOGENEOUS BRANCHES
The unit of homogeneous production
The homogeneous branch
THE CLASSIFICATION OF HOMOGENEOUS BRANCHES

CHAPTER 3 TRANSACTIONS IN PRODUCTS

PRODUCTION AND OUTPUT
Principal, secondary and ancillary activities
Output (P.1)
Institutional units: distinction between market, for own final use and other non-market
Local KAUs and their outputs: distinction between market, for own final use and other non-market
Time of recording and valuation of output
INTERMEDIATE CONSUMPTION (P.2)
Time of recording and valuation of intermediate consumption
FINAL CONSUMPTION (P.3, P.4)
Final consumption expenditure (P.3)
Actual final consumption (P.4)
Time of recording and valuation of final consumption expenditure
Time of recording and valuation of actual final consumption
GROSS CAPITAL FORMATION (P.5)
Gross fixed capital formation (P.51)
Time of recording and valuation of gross fixed capital formation
Changes in inventories (P.52)
Time of recording and valuation of changes in inventories
Acquisitions less disposals of valuables (P.53)
IMPORTS AND EXPORTS OF GOODS AND SERVICES (P.6 and P.7)
Imports and exports of goods (P.61 and P.71)
Imports and exports of services (P.62 and P.72)
TRANSACTIONS IN EXISTING GOODS

CHAPTER 4 DISTRIBUTIVE TRANSACTIONS

COMPENSATION OF EMPLOYEES (D.1)
Wages and salaries (D.11)
Wages and salaries in cash
Wages and salaries in kind
Employers’ social contributions (D.12)
Employers’ actual social contributions (D.121)
Employers’ imputed social contributions (D.122)
TAXES ON PRODUCTION AND IMPORTS (D.2)
Taxes on products (D.21)
Value added type taxes (VAT) (D.211)
Taxes and duties on imports excluding VAT (D.212)
Taxes on products, except VAT and import taxes (D.214)
Other taxes on production (D.29)
Taxes on production and imports paid to the Institutions of the European Union
SUBSIDIES (D.3)
Subsidies on products (D.31)
Import subsidies (D.311)
Other subsidies on products (D.319)
Other subsidies on production (D.39)
PROPERTY INCOME (D.4)
Interest (D.41)
Interest on deposits, loans and accounts receivable and payable
Interest on securities
Interest on bills and similar short-term instruments
Interest on bonds and debentures
Interest rate swaps and forward rate agreements
Interest on financial leases
Other interests
Time of recording
Distributed income of crporations (D.42)
Dividends (D.421)
Withdrawals from the income of quasi-corporations (D.422)
Reinvested earnings on direct foreign investment (D.43)
Property income attributed to insurance policy holders (D.44)
Rents
Rents on land
Rents on sub-soil assets
CURRENT TAXES ON INCOME, WEALTH, ETC. (D.5)
Taxes on income (D.51)
Other current taxes (D.59)
SOCIAL CONTRIBUTIONS AND BENEFITS (D.6)
Social contributions (D.61)
Actual social contributions (D.611)
Imputed social contributions (D.612)
Social benefits other than social transfers in kind (D.62)
Social security benefits in cash (D.621)
Private funded social benefits (D.622)
Unfunded employee social benefits (D.623)
Social assistance benefits in cash (D.624)
Social transfers in kind (D.63)
Social benefits in kind (D.631)
Social security benefits, reimbursements (D.6311)
Other social security benefits in kind (D.6312)
Social assistance benefits in kind (D.6313)
Transfers of individual non-market goods or services (D.632)
OTHER CURRENT TRANSFERS
Net non-life insurance premiums (D.71)
Non-life insurance claims (D.72)
Current transfers within general government (D.73)
Current international cooperation (D.74)
Miscellaneous current transfer (D.75)
Current transfers to NPISHs
Current transfers between households
Fines and penalties
Lotteries and gambling
Payments of compensation
GNP based fourth own resource
Other
ADJUSTMENT FOR THE CHANGE IN THE NET EQUITY OF HOUSEHOLDS IN PENSION FUNDS RESERVES (D.8)
CAPITAL TRANSFERS (D.9)
Capital taxes (D.91)
Investment grants (D.92)
Other capital transfers (D.99)

CHAPTER 5 FINANCIAL TRANSACTIONS

CLASSIFICATION OF FINANCIAL TRANSACTIONS
Monetary Gold and special drawing rights (SDRs) (F.1)
Monetary gold (F.11)
Special drawing rights (SDRs) (F.12)
Currency and deposits (F.2)
Currency (F.21)
Transferable deposits (F.22)
Other deposits (F.29)
Securities other than shares (F.3)
Securities other than shares, excluding financial derivatives (F.33)
Short-term securities other than shares, excluding financial derivatives (F.331)
Long-term securities other than shares, excluding financial derivatives (F.332)
Financial derivatives (F.34)
Loans (F.4)
Short-term loans (F.41)
Long-term loans (F.42)
Shares and other equity (F.5)
Shares and other equity, excluding mutual funds shares (F.51)
Quoted shares, excluding mutual funds shares (F.511), and unquoted shares, excluding mutual funds shares (F.512)
Other equity (F.513)
Mutual funds shares (F.52)
Insurance technical reserves (F.6)
Net equity of households in life insurance reserves and in pension funds reserves (F.61)
Net equity of households in life insurance reserves (F.611)
Net equity of households in pension funds reserves (F.612)
Prepayments of insurance premiums and reserves for outstanding claims (F.62)
Other accounts receivable/payable (F.7)
Trade credits and advances (F.71)
Other accounts receivable/payable, excluding trade credits and advances (F.79)
Memorandum item: direct foreign investment (F.m)
ACCOUNTING RULES FOR FINANCIAL TRANSACTIONS
Valuation
Time of recording
Compiling financial transactions from changes in balance sheets
ANNEX 5.1 LINK WITH MEASURES OF MONEY

CHAPTER 6 OTHER FLOWS

CONSUMPTION OF FIXED CAPITAL (K.1)
ACQUISITIONS LESS DISPOSALS OF NON-FINANCIAL NON-PRODUCED ASSETS (K.2)
OTHER CHANGES IN ASSETS (K.3 – K.12)
OTHER CHANGES IN VOLUME (K.3 – K.10 AND K.12)
ECONOMIC APPEARANCE OF NON-PRODUCED ASSETS (K.3)
ECONOMIC APPEARANCE OF PRODUCED ASSETS (K.4)
NATURAL GROWTH OF NON-CULTIVATED BIOLOGICAL RESOURCES (K.5)
ECONOMIC DISAPPEARANCE OF NON-PRODUCED ASSETS (K.6)
CATASTROPHIC LOSSES (K.7)
UNCOMPENSATED SEIZURES (K.8)
OTHER VOLUME CHANGES IN NON-FINANCIAL ASSETS N.E.C. (K.9)
OTHER VOLUME CHANGES IN FINANCIAL ASSETS AND LIABILITIES N.E.C. (K.10)
CHANGES IN classIFICATIONS AND STRUCTURE (K.12)
Changes in sector classification and structure (K.12.1)
Changes in classification of assets and liabilities (K12.2)
NOMINAL HOLDING GAINS/LOSSES (K.11)
Neutral holding gains/losses (K.11.1)
Real holding gains/losses (K.11.2)
Holding gains by type of financial assets
Currency and deposits (AF.2)
Loans (AF.4) and other accounts receivable/payable (AF.7)
Securities other than shares (AF.3)
Shares and other equity (AF.5)
Insurance technical reserves (AF.6)
Financial assets in foreign currency

CHAPTER 7 BALANCE SHEETS

TYPES OF ASSETS
Non-financial produced assets (AN.1)
Non-financial non-produced assets (AN.2)
Financial assets and liabilities (AF.)
VALUATION OF ENTRIES IN THE BALANCE SHEETS
General valuation principles
NON-FINANCIAL ASSETS (AN.)
Produced assets (AN.1)
Fixed assets (AN.11)
Tangible fixed assets (AN.111)
Intangible fixed assets (AN.112)
Inventories (AN.12)
Valuables (AN.13)
Non-produced assets (AN.2)
Tangible non-produced assets (AN.21)
Land (AN.211)
Subsoil assets (AN.212)
Other natural assets (AN.213 and AN.214)
Intangible non-produced assets (AN.22)
Financial assets and liabilities (AF.)
Monetary gold and SDRs (AF.1)
Currency and deposits (AF.2)
Securities other than shares (AF.3)
Loans (AF.4)
Shares and other equity (AF.5)
Insurance technical reserves (AF.6)
Other accounts receivable/payable (AF.7)
Memorandum items
Consumer durables (AN.m)
Direct foreign investment (AF.m)
Financial balance sheets
ANNEX 7.1 DEFINITION OF EACH ASSET CATEGORY
ANNEX 7.2 A MAP OF ENTRIES FROM OPENING BALANCE SHEET TO CLOSING BALANCE SHEET
 

CHAPTER 8 SEQUENCE OF ACCOUNTS AND BALANCING ITEMS

SEQUENCE OF ACCOUNTS
Current accounts
Production account (I)
Distribution and use of income accounts (II)
Primary distribution of income accounts (II.1)
Generation of income account (II.1.1)
Allocation of primary income account (II.1.2)
Entrepreneurial income account (II.1.2.1)
Allocation of other primary income account (II.1.2.2)
Secondary distribution of income account (II.2)
Redistribution of income in kind account (II.3)
Use of income account (II.4)
Use of disposable income account (II.4.1)
Use of adjusted disposable income account (II.4.2)
Accumulation accounts (III)
Capital account (III.1)
Change in net worth due to saving and capital transfers account (III.1.1)
Acquisitions of non-financial assets account (III.1.2)
Financial account (III.2)
Other changes in assets account (III.3)
Other changes in volume of assets account (III.3.1)
Revaluation account (III.3.2)
Neutral holding gains and losses account (III.3.2.1)
Real holding gains and losses account (III.3.2.2)
Balance sheets (IV)
Opening balance sheet (IV.1)
Changes in balance sheet (IV.2)
Closing balance sheet (IV.3)
REST OF THE WORLD ACCOUNTS (V)
Current accounts
External account of goods and services (V.I)
External account of primary incomes and current transfers (V.II)
External accumulation accounts (V.III)
Capital account (V.III.1)
Financial account (V.III.2)
Other changes in assets account (V.III.3)
Balance sheets (V.IV)
GOODS AND SERVICES ACCOUNT (0)
INTEGRATED ECONOMIC ACCOUNTS
Aggregates
Gross domestic product at market prices (GDP)
Operating surplus of the total economy
Mixed income of the total economy
Entrepreneurial income of the total economy
National income (at market prices)
National disposable income
Saving
Current external balance
Net lending (+ ) or borrowing (-) of the total economy
Net worth of the total economy
General Government expenditure and revenue
MATRIX PRESENTATION
Matrix presentation of ESA accounts
Properties of accounting matrices
Adaptation of the reduced format matrix to specific types of analysis

CHAPTER 9 INPUT-OUTPUT FRAMEWORK

SUPPLY AND USE TABLES
TABLES LINKING THE SUPPLY AND USE TABLES TO THE SECTOR ACCOUNTS
SYMMETRIC INPUT-OUTPUT TABLES

CHAPTER 10 PRICE AND VOLUME MEASURES

SCOPE OF PRICE AND VOLUME INDICES IN THE ACCOUNTS SYSTEM
The integrated system of price and volume indices
Price and volume indices for other aggregates
GENERAL PRINCIPLES OF MEASURING PRICE AND VOLUME INDICES
Definition of prices and volumes of market products
Differences in quality and differences in price
Principles for non-market services
Principles for value added and GDP
PROBLEMS IN THE APPLICATION OF THE PRINCIPLES
General application
Application to specific flows
Flows of goods and market services
Flows of non-market services
Taxes and subsidies on products and imports
Consumption of fixed capital
Compensation of employees
Stocks of produced fixed assets and inventories
Measures of real income for the total economy
CHOICE OF INDEX NUMBER FORMULAE AND THE BASE YEAR
INTERSPATIAL PRICE AND VOLUME INDICES
CHAPTER 11 POPULATION AND LABOUR INPUTS

TOTAL POPULATION
ECONOMICALLY ACTIVE POPULATION
EMPLOYMENT
Employees
Self-employed persons
Employment and residence
UNEMPLOYMENT
JOBS
Jobs and residence
TOTAL HOURS WORKED
FULL-TIME EQUIVALENCE
EMPLOYEE LABOUR INPUT AT CONSTANT COMPENSATION

CHAPTER 12 QUARTERLY ECONOMIC ACCOUNTS

CHAPTER 13 REGIONAL ACCOUNTS

REGIONAL TERRITORY
UNITS AND RESIDENCE
METHODS OF REGIONALISATION
AGGREGATES BY INDUSTRY
HOUSEHOLD ACCOUNTS

ANNEX I FINANCIAL INTERMEDIATION SERVICES INDIRECTLY MEASURED (FISIM)

ANNEX II LEASING AND HIRE PURCHASE OF DURABLE GOODS

DEFINITIONS
Leasing
Operating leasing
Financial leasing
Hire purchase
TREATMENT IN THE ACCOUNTS
Operating leasing
Financial leasing
Hire purchase
 

ANNEX III INSURANCE

INTRODUCTION
DEFINITIONS
Social insurance
Social security schemes of government
Private funded social insurance schemes
Unfunded social insurance schemes operated by employers
Other insurance
Other life insurance
Other non-life insurance
Reinsurance
Insurance auxiliaries
TREATMENT IN THE ACCOUNTS
Social insurance
Social security schemes of government
Private funded social insurance schemes
Unfunded social insurance schemes operated by employers
Other insurance
Other life insurance
Other non-life insurance
Reinsurance
Insurance auxiliaries
INSURANCE: NUMERICAL EXAMPLE

ANNEX IV classIFICATIONS AND ACCOUNTS

classIFICATIONS
Classification of institutional sectors (S)
Classification of transactions and other flows
Transactions in products (goods and services) (P)
Distributive transactions (D)
Transactions in financial instruments (F) (Net acquisition of financial assets/net incurrence of liabilities)
Other accumulation entries (K)
Classification of balancing items (B)
Classification of assets
Non-financial assets (AN)
Financial assets/liabilities (AF)
Regrouping and coding of Industries(A), Products(P) and Investments (Fixed capital formation)(Pi)
A60 , A31 , A17 , P60 , P31 , P17 , A6 , A3 , P6 , P3 , Pi6 , Pi3
Classification of individual consumption by purpose (COICOP)
Classification of the functions of the government (COFOG)
Classification of the purposes of non-profit institutions serving households (COPNI)
ACCOUNTS
Table A.IV.1
Table A.IV.2
Table A.IV.3
Table A.IV.4
Table A.IV.5
Table A.IV.6
Table A.IV.7

ANNEX V DEFINITION OF THE GOVERNMENT DEFICIT FOR THE PURPOSE OF THE EXCESSIVE DEFICIT PROCEDURE

INDEX

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W

INDEX OF TABLES