Integrated
Economic Accounts
Seminar on developing a programme for
the implementation of the 2008 SNA and
supporting statistics
17-19 October 2012
1
Outline

What is IEA ?

Institutional units

Institutional sector classification

Transaction flows

IEA Structure

Example
2
What is Integrated Economic
Accounts ?
Integrated economic accounts, in the form of T- account, provide
an overview of structural elements of the System of National
Accounts by depicting various facets of economic phenomena
(e.g., production, income, consumption, accumulation, and wealth)
in three types of accounts:
current account,
accumulation accounts,
and balance sheets
3
Institutional units

Non-financial corporations

Financial corporations

General government

Households (including NPISHs)

ROW
4
Institutional classification

Non-financial enterprises
•
Public companies
•
Private companies
•
Close corporations
•
Public corporations
•
Quasi-companies

Financial enterprises
•
Central bank
•
Other depository enterprises
•
Other financial intermediaries, including
insurance companies and pension funds
5
Institutional classification
(continued)

General government
•
Central government
•
Provincial governments
•
Local authorities
•
Extra-budgetary institutions
•
Business enterprises of general government
 Households
•
Households as consumers
•
•
Unincorporated enterprises and informal business
activities owned by households
Non-profit institutions serving households (NPISHs)
6
Transaction flows
7
Structure IEA
N-FC
FC
HH
GG
Tot Econ ROW
Current accounts
1.1 Production
1.2 Generation of
income
1.3 Allocation of
primary income
1.4 Secondary
distribution of income
1.5 Use of disposable
income
Accumulation accounts
2.1 Capital account
2.2 Financial account
2.3 Other changes in
volume of assets
2.4 Revaluation account
Balance Sheets
8
Household accounts
I
Production account
P.1
P.2
B.1
Output at basic prices………………
less Intermediate consumption…………
Gross value added at basic prices………
R/U/B
2005
R
U
B
482,000
198,399
283,601
B
283,601
77,907
9,161
776
197,309
II:1.1 Generation of Income account
B.1
D.1
D.29
D.39
B.2g
Gross value added at basic prices………
less Compensation of employees………
less Other taxes on production……………
Other subsidies on production……………
Gross operating surplus/mixed income…
B
Household accounts
II.1
Allocation of primary income account
B.2g
D.1
Gross operating surplus/mixed income…
Compensation of employees ……
R/U/B
2005
B
197,309
696,302
R
235,826
R
R
R
47,393
103,492
84,836
R
105
U
58,729
U
U
58,677
52
B
1,070,708
Total Compensation of employees in SA (Stats SA)
plus Compensation of SA residents working abroad
less Compensation of non-residents working in South Africa
D.4
Property income received
Interest before fisim…………………………………………
fisim adjustment
D.41
Interest…………………………………………
D.421 Dividends………………………………………
D.44
Property income attributed to insurance policy holders
Origin - life and % short term insurance, medical schemes, pension funds
Investment income
D.45
Rent……………………………………………
Rent on land and sub soiled assets
D.4
D.41
D.45
less Property income paid
Interest before fisim…………………………………………
less fisim adjustment
Interest…………………………………………
Rent……………………………………………
Rent on land and sub soiled assets
B.5g
Gross balance of primary incomes
Household accounts
R/U/B
II.2
Secondary distribution of income account
B.5g
D.62
Gross balance of primary incomes
Social benefits other than social transfers in kind
2005
B
R
1,070,708
111,950
R
R
69,110
53,939
R
15,171
From private and official pension funds
From government
D.7
D.72
Other current transfers………………
Non-life insurance claims………………
actual claims paid by short term insurance % and medical schemes
D.75
D.5
D.61
Miscellaneous current transfers…………
From government
From ROW
From Corporate sector
less Current taxes on income and wealth…
less Social contributions…………………
Private and official pension funds
Employers actual social contributions
Employees social contributions
Where employees social contribution equals:
124,513
110,775
actual employee contribution
plus premium supplement
minus service charge
D.7
D.71
Government
less Other current
transfers………………
Net non-life insurance premiums………
U
55,810
53,939
U
1,871
B
960,670
net non life premiums by short term insurance % and medical schemes
total premiums after deducting service charges
D.75
Miscellaneous current transfers…………
To Government
To ROW
B.6g
Gross disposable income
Household accounts
II.1
Allocation of primary income account
B.2g
D.1
Gross operating surplus/mixed income…
Compensation of employees ……
R/U/B
2005
B
197,309
696,302
R
235,826
R
R
R
47,393
103,492
84,836
R
105
U
58,729
U
U
58,677
52
B
1,070,708
Total Compensation of employees in SA (Stats SA)
plus Compensation of SA residents working abroad
less Compensation of non-residents working in South Africa
D.4
Property income received
Interest before fisim…………………………………………
fisim adjustment
D.41
Interest…………………………………………
D.421 Dividends………………………………………
D.44
Property income attributed to insurance policy holders
Origin - life and % short term insurance, medical schemes, pension funds
Investment income
D.45
Rent……………………………………………
Rent on land and sub soiled assets
D.4
D.41
D.45
less Property income paid
Interest before fisim…………………………………………
less fisim adjustment
Interest…………………………………………
Rent……………………………………………
Rent on land and sub soiled assets
B.5g
Gross balance of primary incomes
Household accounts
R/U/B
2005
II.4.1 Use of disposable income account
B.6g
D.8
Gross disposable income
Adjustment for change in net equity of households on pension
funds………
B
960,670
R
57,031
U
990,773
Employer’s contribution and employees contributions
plus Premium supplements
minus Benefit due
minus Service charge
P.3
less Final consumption expenditure……
-39
less Residual
(Statistical discrepancy between expenditure components and GDP)
B.8g
K.1
B.8n
Gross saving……………………………….
less Consumption of fixed capital………
Net saving……………………………………
B
U
B
26,967
25,825
1,142
Household accounts
R/U/B
III.1
Capital account
B.8n
Gross saving……………………………….
Capital transfers, receivable
D9
B
From government
From ROW
D9
Capital transfers, payable
2005
26,967
3,508
283
3,225
-58
To ROW
P.51
P.52
B.9
less Change in assets ……………………
Gross fixed capital formation……………
Change in inventories
Net lending (+)/ net borrowing (-)……
B
44,777
43,996
781
-14,360
Thank you
15