Regional Seminar on Developing a Program
for the Implementation of the 2008 SNA and
Supporting Statistics
Leyla BAYRAK NEVES DE ALMEIDA
11-13 September 2013
Ankara - Turkey
1
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Gross Domestic Products by cost
components
2
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
•
In the Turkish national accounts system, estimate of GDP is not made
independently from the income perspective. The income approach denotes
calculation of GDP as the addition of its various components, consisting of
compensation of employees , gross operating surplus, including consumption
of fixed capital, and other taxes on production less other subsidies on
production . The sum of operating surplus and gross mixed income is obtained
as a residual item, reduced by known values for the other income
components.
3
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
The revising of GDP by income approach according to ESA95 is currently
ongoing and near its completion. In the revision, annual benchmark year is
2002 based on supply and use tables (SUT) which were the first table
compiled by the concepts, definitions and classifications of the ESA-95,
resulting in relatively a more integrated and consistent GDP estimates.
GDP series are being backcasted and extrapolated from the new 2002
benchmarks.
4
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
• In the context of compliance of ESA 95, the quarterly estimation of GDP by
income approach also is planning to be estimated. Further efforts are also
required to achieve full compliance with the methodological requirements
of ESA-95.
• Thus far GDP estimates by income approach for a reference year are
available at the end of June of the following year. Annual GDP results are
sum of the quarters.
5
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
• The cost approach to the estimation of gross domestic product involves
adding up the cost components of value added for all producing
establishments in the country.
• The formula for GDP measured using the income approach may be
summarized as in the table below:
GDP by cost components
+ Compensation of employees
+ Gross operating surplus and mixed income
+ Taxes on production and imports
- Subsidies on product and production
GDP
6
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Compensation of employees
•
Compensation of employees is defined as "the total remuneration, in cash or
in kind, payable by an employer to an employee in return for work done by the
latter during the accounting period". The compensation of employees is
calculated per economic activities. Compensation of employees has two main
components:
•
Wages and salaries in cash and in kind
– wages and salaries in cash
– wages and salaries in kind
The value of the social contributions payable by employers.
– employers’ actual social contributions
– employers’ imputed social contributions
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
• Compensation of employees as a component of value added may be paid
to residents or to non residents by resident producers.
• Wages and salaries in cash include all payments including commissions,
tips, special or recurrent bonuses. The amounts are recorded before
deductions for the employees own contributions to social security,
payment of income taxes etc. The payments of retirement pensions and of
severance allowances are excluded from compensation of employees.
• For compensation of employees different data sources are used for each
kind of activities.
8
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
• Basic data sources are Household Labour Force Survey, which is carried
out quarterly and annually, Business Surveys for the different industries (it
is called “structural business statistics”); like manufacturing, mining and
quarrying, electricity, gas and water supply, wholesale and retail trade,
hotels and restaurants, transport, storage and communication, financial
intermediation, The Report of Supreme Audit Board, Social Security
Institution and Ministry of Finance.
• All data including wages and salaries in kind are surveyed in monetary
terms and processed in this form. A supplementary source is Turkish
electricity administration and private electricity companies.
• A social security contribution which is actual and imputed is taken from
additional sources. Social contributions laid down by law are calculated
with the aid of data from The Social Security Institution.
9
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Taxes on production and imports (D2)
Taxes on production and imports are compulsory, unrequited payments, in
cash or in kind made by establishments to the general government units
or, to the European Institutions related to the production and imports
regardless of the fact on whether the producer has any profits or not.
•
•
•
•
•
Taxes on production and imports are divided into:
a) taxes on products (D.21):
(1) value added type taxes (VAT) (D.211);
(2) taxes and duties on imports excluding VAT (D.212):
– import duties (D.2121); – taxes on imports excluding VAT and import
duties (D.2122); (3) taxes on products, except VAT and import taxes
(D.214).
b) other taxes on production (D.29)
10
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
• D2 is available from the general government. Data source is Ministry of
Finance and data used for estimates are based on an accrual basis.
The information is available monthly. The data is the basic information for
compiling taxes on production and imports.
• Also for D3 estimation data source used is Ministry of Finance same as D2.
11
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Subsidies (D3)
Subsidies are classified into subsidies on products and other subsidies on
production. Subsidies are current unrequited payments by general government to
resident, with the objective of influencing their levels of production, their prices or
the remuneration of the factors of production.
Subsidies on products (D.31) are subsidies payable per unit of a good or service
produced or imported. The subsidy may be a specific amount of money per unit of
quantity of a good or service, or it may be calculated ad valorem as a specified
percentage of the price per unit.
Subsidies on products include also subsidies to public corporations and quasicorporations to compensate for persistent losses which they incur on their
productive activities as a result of charging prices which are lower than their
average costs of production as a matter of deliberate government economic and
social policy.
12
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Other subsidies on production (D.39) consist of subsidies except subsidies on
products that resident producer units may receive because of engaging in
production.
Subsidies are recorded when actual payments are paid, because the main
source of information is the government accounts and transfers are recorded
when the payments are realized in these accounts. Main data source is
Ministry of Finance to calculate subsidies.
13
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Consumption of fixed capital
• In SNA, consumption of fixed capital is defined in general terms
as the decline, during the course of the accounting period, in the
current value of the stock of fixed assets owned and used by a
producer as a result of physical deterioration.
• Estimates of consumption of fixed capital is obtained by the PIM
method.
• Estimates are derived using a delayed linear function. This
survival function shows that the surviving assets are reduced by a
constant amount
14
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
• Average service life of construction investment, currently used
for PIM estimates, is 33 years and it is 18 years, which is the same
of OECD average, for machinery and equipment.
•
Data on fixed capital formation series, beginning from 1948, at
1987 constant prices are used to produce estimates of consumption
of fixed capital at constant prices. Estimates at current replacement
cost are obtained by reflating the constant price estimates.
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Gross operating surplus and gross mixed income
(B2g/B3g)
Operating surplus is balance sheet of generation of income accounts. It is
defined residually as value added (net) minus compensation of employees
payable, minus taxes on production payable, plus subsidies receivable.
• By definition, only establishments whose output is valued at market prices
have operating surplus, where output is valued at cost, as for government
services, operating surplus is necessarily zero.
• Mixed income was estimated from LFS and social security institutions
data. As an independent estimation of operating surplus and mixed
income (B2g/B3g) is not possible because of lack of data.
16
Regional Seminar on Developing A Program
National
Seminar
on Developing of
A Program
for the
Implementation
the
for the Implementation of the
2008
SNA
and
Supporting
Statistics
2008 SNA
and
Supporting
Statistics
in Turkey
11-13 10
September
2013/ /Ankara
Ankara
– Turkey
September 2013
- Turkey
Planned Studies
• To publish the result of GDP by income approach at the same time with
GDP by production and expenditure methods’ results,
• To estimate primary distribution, secondary distribution of income
accounts,
• To estimate use of disposable income account
• To estimate consumption of fixed capital by kind of activities
17