Questionnaire 0801 - QSA Quarterly sector accounts – quarterly data

National Statistical Institute of Bulgaria

Unit Non-financial national and regional accounts, Macroeconomic statistics Directorate

Elena Bakalova

state expert

Panayot Volov Str. 2, Sofia 1038

[email protected]

+359 2 9857 540

The non-financial Quarterly Sector Accounts (QSA) are compiled in accordance with the European System of Accounts (ESA 2010) and are transmitted by the EU Member States, EEA Members (Norway, Iceland) and Switzerland following ESA2010 transmission programme (Table 8) established by the Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union, annexes A and B respectively).
The QSA encompass non-financial accounts that provide a description of the different stages of the economic process: production, generation of income, distribution of income, redistribution of income, use of income and non-financial accumulation. The QSA record the economic flows of institutional sectors in order to illustrate their economic behaviour and interactions between them. They also provide a list of balancing items that have high analytical value in their own right: value added, operating surplus and mixed income, balance of primary incomes, disposable income, saving, net lending / net borrowing. All of them but net lending / net borrowing, can be expressed in gross or net terms, i.e. with and without consumption of fixed capital that accounts for the use and obsolescence of fixed assets.
In terms of institutional sectors, a broad distinction is made between the domestic economy (ESA 2010 classification code S.1) and the rest of the world (S.2). Within S.1 and S.2, in turn, more detailed subsectors are distinguished as explained in more detail in section "3.2 Classification system".

The standard followed is the European System of Accounts 2010 and ESA 2010 data transmission programme. The main categories are the institutional sectors and the transactions recorded between the sectors. The transactions are grouped into a sequence of accounts, namely: the production, generation, distribution and redistribution of income, use of income and capital accounts.
The institutional sectors combine institutional units with broadly similar characteristics and behaviour: households and non-profit institutions serving households (NPISHs), non-financial corporations, financial corporations, and the government. Transactions with non-residents and the financial claims of residents on non-residents, or vice versa, are recorded in the "rest of the world" account.
ESA 2010 Classification of sectors, included in NSI QSA:
Total economy (S.1)
General government (S.13)
Rest of the World (S.2)

Quarterly sector accounts cover S1.S13 and S2 (institutional) sectors of the economy. For details, please refer to section 3.2 Classification system.
Transmission of quarterly data on others sectors  is voluntary from Bulgaria according to ESA 2010 transmission programme.

The concepts, definitions and classifications are based on the European System of Accounts (ESA 2010). The S1 and S13 sector accounts provide, by institutional sector, a systematic description of the different stages of the economic process: production, generation of income, distribution of income, redistribution of income, use of income and financial and non-financial accumulation. Transactions with non-residents are recorded in the "rest of the world" account. The sector accounts thus show the interactions among the S1 and S13 sectors of the resident economy  and the rest of the world.

The transactions are grouped into various categories that have a distinct economic meaning, such as 'compensation of employees' (comprising wages and salaries, before taxes and social contributions are deducted, and social contributions paid by the employers). In turn, these categories of transactions are shown in a sequence of accounts, each of which covers a specific economic process. This ranges from production, income generation and income (re)distribution, through the use of income, for consumption and saving, and the investment, as shown in the capital account, to transactions such as borrowing and lending. Each non-financial transaction is recorded as an increase in the "resources" of a certain sector and an increase in the "uses" of another sector. For instance, the resources side of the "dividends" transaction category records the amounts of dividends receivable by the different sectors of the economy, whereas the uses side shows dividends payable. For each type of transaction, total resources of all sectors and the rest of the world equal total uses. Each account leads to a meaningful balancing item, the value of which equals total resources minus total uses. Typically, such balancing items, such as GDP or saving, are important economic indicators. They are carried over to the next account.
The production account records the output of goods and services as its main resource, to which taxes less subsidies on products are added to obtain total resources of an economy at market prices. The main use in the production account is "intermediate consumption" - such as the consumption of fuel within a production process. The difference between resources and uses is the balancing item "gross value added" for individual domestic sectors and gross domestic product (GDP) for total economy . This gross value added is then carried over as a resource to the subsequent set of accounts, the generation and distribution of income accounts, which eventually yield "disposable income" as a balancing item. This conceptual and numerical inter-linkage of the accounts ensures the consistent derivation of key economic indicators. "Net lending/net borrowing" is derived from the capital account by comparing "gross capital formation" (mainly investment in capital goods and software) plus the net acquisition of "non-produced, non-financial assets" (such as land or licences) with "gross saving" plus net "capital transfers" (such as an investment grants). If saving plus net capital transfers received exceeds non-financial investment, a sector has a surplus of funds and becomes a net lender to other domestic sectors and/or the rest of the world.
The transactions are recorded on an accrual basis (i.e. not on a cash basis), that is, when economic value is created, transformed or extinguished.

The elementary building block of ESA2010 statistics is the institutional unit (see ESA2010, 2.12.), "an elementary economic decision-making centre characterised by uniformity of behaviour and decision-making autonomy in the exercise of its principal function".

National accounts combine data from many source statistics. The concept of statistical population is not applicable in a national accounts context.
 

The reference area for national accounts is the total economy of a country.

The Quarterly Sector Accounts are available as from 2000.

Not applicable.

Sources of data are statistical surveys are quarterly accounts of economic units and administrative data:Income and expenses, including statistical annexes; LFS, Statistical report on employees and wages and salary;Consolidated Statement of implementation of the state budget; Tax information,Balance of Payments (BPM6) and other.

Bulgaria transmit sector accounts data to Eurostat upon national publication and/or in line with the deadlines specified in the European System of Accounts (ESA 2010) transmission programme .

Sample surveys and exhaustive for budgetary units

Figures are screened through an extensive system of equations based on arithmetical constraints (e.g. each total must equal the sum of its components) as well as accounting relations (e.g. total uses should correspond to total resources for all distributive transaction and for goods and services as a whole).

Implementation of validated procedures for assessing the quality of data and the development of estimation of the completeness of the data.

Not applicable.

Quality is assured by strict application of ESA 2010 concepts and by thorough validation of the data.

Not available.

Quarterly sector accounts offer complete and consistent description of the S1,S13 and S2 .

Not available.

Quarterly sector accounts offer complete and consistent description of the whole economy, broken down into domestic institutional sector S1 and rest of the world S2.
 

The overall accuracy is supported by ensuring that total uses and total resources are balanced at the level of individual transaction categories giving a coherent set of data for the total national economy and transactions with the rest of the world.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Not applicable.

Jdemetra+

National data are revised according to national schedules, and revisions are transmitted to Eurostat. The date revisions are pre-announced in the release calendar on BG NSI's web-site. On these occasions, previously published figures are subject to revision for all variables and all quarters.

National accounts data are subject to routine revisions as new input data becomes available. This will typically also entail revisions of the national accounts aggregates, which are derived from these data. In BG national accounts two types of revisions are: Regular – quarterly, preliminary, final data; and Major - based on implementation of new methodology or GNI reservations.

The data transmitted to Eurostat are in compliance with ESA 2010 DTP and respective derogations for the country.

The data transmitted to Eurostat are in compliance with ESA 2010 DTP and respective derogations for the country.

The data transmitted to Eurostat are in compliance with ESA 2010 DTP and respective derogations for the country.

The comparability is insured by the application of common definitions  of ESA 2010

By using a common framework, the European System of Accounts  ESA 2010, data can be comparable over time.

In certain cases, data from other domains of economic statistics, i.e. balance of payments statistics, business statistics, household budget statistics or external trade statistics can be used for cross-checking purposes. These economic statistics are also available from the appropriate domains on BG NSI's website.

Annual and quarterly data for all sub domains of national accounts should be coherent.

Annual and quarterly data for all sub domains of national accounts should be coherent.

Quarterly sector accounts are internally consistent in the means of the sectors included (S13, S1, S2). This is supported by the fact that the total uses and total resources are balanced at the level of individual transaction categories giving a coherent set of data for the total national economy and transactions with the rest of the world.

Not available for quarterly data.

website of BG NSI

https://infostat.nsi.bg/infostat/pages/reports/query.jsf?x_2=1265

Not available

Not available

European System of Accounts (2010) (Eurostat).
 

Not available.

Not available.

Law on Statistics; Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society. The European Statistics Code of Practice provides further conditions that have to be respected by statistical offices in regard to statistical confidentiality (Principle 5): The privacy of data providers (households, enterprises, administrations and other respondents), the confidentiality of the information they provide and its use only for statistical purposes are absolutely guaranteed.

If  data are with a confidentiality flag or are under an embargo date, these data are not published.