Annual national accounts

Producer: Statistics Finland
Homepage: http:// www.stat.fi/til/vtp/index_en.html
Main topic: National Accounts
Related topics:
Official Statistics of Finland (OSF): Yes
European Statistical System (ESS): Yes

Description

National accounts is a statistical system that describes Finland’s national economy comprehensively, systematically and precisely. It is based on the European System of Accounts ESA2010, which comp-lies with the world-wide SNA2008 (System of National Accounts) recommendations for national ac-counts.

Capital stock calculations describe the stock of fixed capital used in the production of goods and servi-ces, gross capital formation, physical depreciation and reduction of value, or consumption, of capital.

Data content

National accounts present the central parameter figures of gross domestic product and gross national income, and their components, that describe the state and development of Finland’s national economy. Data on the output, income, use of income and capital formation of the national economy are described by transaction and sector. Data on output, employment and capital formation are presented by transac-tion and industry. Data on consumption are presented by purpose and durability category. Data descri-bing the activities of genral government are also presented by function. There is also information about taxes and social insurance contributions compliant with national accounts. Supply and use tables present data on the supply and demand of the national economy by product group.

Capital stock is estimated with a calculation model based on the method for accumulation of invest-ments. Total stock is calculated both as gross and net concepts. Data on capital stock are used in pro-ductivity calculations and as estimates of fixed capital depreciation in national accounts. Fixed capital reserves is a crucial element in determining national wealth.

The data content is based on the European System of Accounts ESA2010, which complies with the world-wide SNA20083 (System of National Accounts) recommendations for national accounts. The data system of national accounts is comprised of a host of basic statistics, diverse registers and separa-tely collected data. Most of the data are public, but individual data on specific units may not be disclo-sed.

Classifications used

Classification of Institutional Sectors 2012, Standard Industrial Classification TOL 2008, classification of producer categories, classification of transactions in accordance with ESA2010, classification of types of capital goods, COICOP Classification of Individual Consumption According to Purpose, CO-FOG Classification of the Functions of Government. The product classification used in the supply and use tables is a national accounts product classification based on the Statistical Classification of Products by Activity (CPA) of the European Union. The classifications are based on the standards require by the European System of Accounts ESA2010.

Data collection methods and data sources

National accounts is a derived set of statistics compiled by exploiting a large number of other statistical datafiles produced by Statistics Finland and other bodies. The utilised data come mainly from statistics describing the economy and social conditions, such as structural business statistics, the labour force survey, price indices, data on specific products, like those on output, raw materials and fuels from sta-tistics on manufacturing commodities, as well as datafiles of external producer, such as financial state-ments of the state and statistics of insurance companies. The data are revised to comply with the con-cepts and definitions of national accounts.

Data collections

Updating frequency

The first preliminary data on the previous year are published in February - March excluding capital stock. Preliminary data with broad contents are published in July and are then revised in January of the following year. Final supply and use tables concerning year t are published in December t+2 and the entire data content of the accounts in January t+3.

Time of completion or release

March, July, December, January.

Time series

Time series conforming with ESA2010 have been calculated starting from 1975 and data for the most recent years are being updated continuously. Divergent time series from these complying with the UN’s SNA68 recommendation on national accounts are available separately for the years 1960 to 1974. His-toric data series of national accounts go back to 1860 (see historic series of national accounts). Supply and use tables have been calculated since 1995.

Data concerning capital stock calculations are available since 1960 at current and constant prices and by type of capital good and industry. As special compilations selected data on capital stock are available from as far back as 1920.

Keywords

capital, capital formation, capital stock, consumption, consumption expenditure, current account, debts, demand, employment, foreign trade, gross domestic product, gross national income, income, investments, national accounts, national balance of supply and demand, national economy, national income, production, public expenditure, rate of indebtedness, savings rate, supply, tax ratio, value added

Contact information

http://tilastokeskus.fi/til/vtp/yht_en.html

Additional information

National accounts complying with ESA2010 and changes in contents from earlier accounts will be described in the publication which will be published in autumn 2014. National accounts complying with ESA95 and changes in contents from earlier accounts have been described in the publications National Accounts 2001-2010, SVT National Accounts 2011; National Accounts 1999-2008, SVT National Accounts 2010; National Accounts 1995-2004, Revised Time Series SVT National Accounts 2006; National Accounts, Time series 1975-2002, Volume I Revised Tables 1989-2002, SVT Kansantalous National Accounts 2004:2 A and National Accounts 1975-1998, Time series, ESA95 revision, SVT National Accounts 2000:2.

Last updated 31.01.2022