Complete national accounts
How is the growth rate in the Danish economy developing, and what is included in the balance of demand and supply in relation to goods and services? How have the gross domestic product and gross national income developed over the years? The national accounts statistics provide an overall picture of the economy and specify, for example, the total national production, use of the production and income generated through the production.
Explainer on…
The value of a country's annual production produced in the country's workplaces. There are three ways to calculate GDP:
- Gross domestic product (GDP) at market prices is calculated from the production side by subtracting the total value of intermediate consumption in purchaser's prices.
- GDP can also be calculated from the use side as the sum of all final uses in purchaser's prices minus imports of goods and services.
- Finally, GDP can be calculated from the income side as compensation of employees plus gross operating surplus and mixed income plus taxes less subsidies on production.
Gross domestic product at base prices. GVA is calculated for the individual business types as production at base prices minus intermediate consumption at buyer prices and is thus, also equal to the sum of other production taxes (net), compensation of employee, and surplus of production and mixed income. For society as a whole, gross value added can also be calculated as the gross domestic product at market prices minus net product taxes.
Gross national income (GNI) is calculated by adding net property income from abroad, net compensation of employees from abroad and subsidies less taxes from abroad to the gross domestic product (GDP).
Capital formation includes both gross fixed capital formation and changes in inventories.
Gross fixed capital formation are expenditure for durable goods that are used in production processes for more than one year. E.g. it can be expenditure as regards to acquisition of machinery and equipment and for the construction of buildings as well as research and development.
Changes in inventories are the value of changes in the industries' inventories, e.g. increases in stocks of raw materials and manufactured goods in the manufacturing industry and stocks within wholesale and retail trade.
A compilation of demand and supply of goods and services in a country throughout a period. Demand and supply of goods and services are by definition always the same in the national accounts. The supply side consists of GDP and imports of goods and services, while the demand side consists of consumption, gross capital formation and exports of goods and services.
Selected statistics on Complete national accounts
Annual real growth in gross domestic product (GDP)
The source for the national accounts consists of statistics on economic activity, business structure and prices. The different versions of the national accounts are based on different sources.
The final national accounts are calculated at a time when the sources are available in their final versions and in a very detailed form.
On the other hand, the quarterly national accounts and the first interim annual figures are calculated relatively shortly after the end of the reference period. The sources of these inventories are therefore relatively few and in many cases only preliminary, and because of this, the most important source is the final national accounts that form the basis for the projection along with available indicators.
In the following, the sources for the different version of the national accounts are listed:
Quarterly national accounts (QNA50): Production and turnover in manufacturing industries, Purchases and sales by enterprises (only partly), Stocks of manufacturers and wholesale, Retail turnover index, Balance of payments and external trade statistics, Producer and import price index for commodities, Producer price index for services, Consumer price index, Net price index.
Quarterly national accounts, revised (QNA90): Same as QNA50 + Purchases and sales by enterprises, Purchases and sales by manufacturing industries, Financial industries and FISIM and Government finance statistics.
Quarterly national accounts 180 days (only Q4): Same as QNA90 + Government finance statistics.
Preliminary annual national accounts (t-1): Same as QNA180 + volume indicators for non-market individual services produced by general government, Accounts statistics for non-profit institutions serving households (NPISH) and Economic Accounts for Agriculture.
Preliminary annual national accounts (t-2): Same as preliminary ANA (t-1) + Accounts statistics, Accounts for public corporations, Household budget survey, Energy accounts.
Final annual national accounts (t-3): Same as preliminary ANA (t-2) + General enterprise statistics, Industrial commodity statistics, Manufacturers’ purchase of raw materials.
For an overview of sources on industry level see Branchefordelt kildeoversigt In Danish.
Annual GDP and imports by uses
The source for the national accounts consists of statistics on economic activity, business structure and prices. The different versions of the national accounts are based on different sources.
The final national accounts are calculated at a time when the sources are available in their final versions and in a very detailed form.
On the other hand, the quarterly national accounts and the first interim annual figures are calculated relatively shortly after the end of the reference period. The sources of these inventories are therefore relatively few and in many cases only preliminary, and because of this, the most important source is the final national accounts that form the basis for the projection along with available indicators.
In the following, the sources for the different version of the national accounts are listed:
Quarterly national accounts (QNA50): Production and turnover in manufacturing industries, Purchases and sales by enterprises (only partly), Stocks of manufacturers and wholesale, Retail turnover index, Balance of payments and external trade statistics, Producer and import price index for commodities, Producer price index for services, Consumer price index, Net price index.
Quarterly national accounts, revised (QNA90): Same as QNA50 + Purchases and sales by enterprises, Purchases and sales by manufacturing industries, Financial industries and FISIM and Government finance statistics.
Quarterly national accounts 180 days (only Q4): Same as QNA90 + Government finance statistics.
Preliminary annual national accounts (t-1): Same as QNA180 + volume indicators for non-market individual services produced by general government, Accounts statistics for non-profit institutions serving households (NPISH) and Economic Accounts for Agriculture.
Preliminary annual national accounts (t-2): Same as preliminary ANA (t-1) + Accounts statistics, Accounts for public corporations, Household budget survey, Energy accounts.
Final annual national accounts (t-3): Same as preliminary ANA (t-2) + General enterprise statistics, Industrial commodity statistics, Manufacturers’ purchase of raw materials.
For an overview of sources on industry level see Branchefordelt kildeoversigt In Danish.
Distribution of income on compensation of employees and profits
The source for the national accounts consists of statistics on economic activity, business structure and prices. The different versions of the national accounts are based on different sources.
The final national accounts are calculated at a time when the sources are available in their final versions and in a very detailed form.
On the other hand, the quarterly national accounts and the first interim annual figures are calculated relatively shortly after the end of the reference period. The sources of these inventories are therefore relatively few and in many cases only preliminary, and because of this, the most important source is the final national accounts that form the basis for the projection along with available indicators.
In the following, the sources for the different version of the national accounts are listed:
Quarterly national accounts (QNA50): Production and turnover in manufacturing industries, Purchases and sales by enterprises (only partly), Stocks of manufacturers and wholesale, Retail turnover index, Balance of payments and external trade statistics, Producer and import price index for commodities, Producer price index for services, Consumer price index, Net price index.
Quarterly national accounts, revised (QNA90): Same as QNA50 + Purchases and sales by enterprises, Purchases and sales by manufacturing industries, Financial industries and FISIM and Government finance statistics.
Quarterly national accounts 180 days (only Q4): Same as QNA90 + Government finance statistics.
Preliminary annual national accounts (t-1): Same as QNA180 + volume indicators for non-market individual services produced by general government, Accounts statistics for non-profit institutions serving households (NPISH) and Economic Accounts for Agriculture.
Preliminary annual national accounts (t-2): Same as preliminary ANA (t-1) + Accounts statistics, Accounts for public corporations, Household budget survey, Energy accounts.
Final annual national accounts (t-3): Same as preliminary ANA (t-2) + General enterprise statistics, Industrial commodity statistics, Manufacturers’ purchase of raw materials.
For an overview of sources on industry level see Branchefordelt kildeoversigt In Danish.
Gross domestic product and gross national income
The source for the national accounts consists of statistics on economic activity, business structure and prices. The different versions of the national accounts are based on different sources.
The final national accounts are calculated at a time when the sources are available in their final versions and in a very detailed form.
On the other hand, the quarterly national accounts and the first interim annual figures are calculated relatively shortly after the end of the reference period. The sources of these inventories are therefore relatively few and in many cases only preliminary, and because of this, the most important source is the final national accounts that form the basis for the projection along with available indicators.
In the following, the sources for the different version of the national accounts are listed:
Quarterly national accounts (QNA50): Production and turnover in manufacturing industries, Purchases and sales by enterprises (only partly), Stocks of manufacturers and wholesale, Retail turnover index, Balance of payments and external trade statistics, Producer and import price index for commodities, Producer price index for services, Consumer price index, Net price index.
Quarterly national accounts, revised (QNA90): Same as QNA50 + Purchases and sales by enterprises, Purchases and sales by manufacturing industries, Financial industries and FISIM and Government finance statistics.
Quarterly national accounts 180 days (only Q4): Same as QNA90 + Government finance statistics.
Preliminary annual national accounts (t-1): Same as QNA180 + volume indicators for non-market individual services produced by general government, Accounts statistics for non-profit institutions serving households (NPISH) and Economic Accounts for Agriculture.
Preliminary annual national accounts (t-2): Same as preliminary ANA (t-1) + Accounts statistics, Accounts for public corporations, Household budget survey, Energy accounts.
Final annual national accounts (t-3): Same as preliminary ANA (t-2) + General enterprise statistics, Industrial commodity statistics, Manufacturers’ purchase of raw materials.
For an overview of sources on industry level see Branchefordelt kildeoversigt In Danish.
On the statistics – documentation, sources and method
See the documentation of statistics to learn more:
Employment and wages in national accounts shed light on labor market developments in a way that makes it possible to compare labor market developments with developments in, for example, GDP, production, and value added, as measured in national accounts. The statistics have been revised since the last publication. In this revision, the statistics have been revised back to 1981. The purpose of the revision is to incorporate new knowledge and new methods and to ensure uniform compilation methods for all countries. Read more at https://www.dst.dk/ext/national/HR2024_over_EN--pdf
The purpose of fixed capital is to provide a picture of the productive capacity of the economy's capital stock as well as of that part of national wealth which is placed in fixed assets. Fixed capital is compiled according to guidelines in the present European national accounting system, ESA2010, and is based on investment series from the National Accounts. Fixed capital according to ESA2010 was first published in September 2014. Updated series for fixed capital are published yearly.
The national accounts are a description of a country's economy and its development. It consists of a description of the economy as whole and the economic transactions between individuals, companies and institutions. The national accounts also include transactions between Denmark and abroad. The first Danish national accounts date back to the 1930's. Consistent time series of annual national accounts goes back to 1966, while quarterly national accounts are available as of first quarter 1990.
Financial accounts are part of the national accounts system, which shows how the institutional sectors of the economy place / finance their net lending/net borrowing. Statistics Denmark published annual financial accounts for the first time in 2001, while the Danmarks Nationalbank (Danish Central Bank) published quarterly figures for the first time in 2004. From September 2020, the national and quarterly financial accounts of the national accounts is compiled in a collaboration between Danmarks Nationalbank and Statistics Denmark.
The financial accounts statistics have undergone a benchmark revision since the last publication. In this benchmark revision, the statistics have been revised back to 1995. The benchmark revision is a pan-European project that is carried out every 5 years. The purpose of the revision is to incorporate new knowledge and new methods and to ensure uniform calculation methods for all countries.