National accounts are a coherent and consistent set of macroeconomic indicators, which provide an overall picture of the economic situation and are widely used for economic analysis and forecasting, policy design and policy making.
The National Accounts Unit publishes quarterly and annual national accounts of the GDP and its components, annual sector accounts, and supply and use tables. The GDP per capita is updated on a regular basis following each quarterly news release. Annual and quarterly national accounts are compiled in accordance with the European System of Accounts - ESA 2010, 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. The first transmission in accordance with ESA 2010 will be available in September 2014.
The data are published in euro (i.e. in national currency), at current prices and in chain-linked volumes. Chain-linked volumes are derived using the annual-overlap method.
Gross domestic product at market prices may be derived and defined in three ways:
1. Output approach - GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies on products (which are not allocated to sectors and industries). It is also the balancing item in the total economy production account. GDP by industry is only available at current prices.
2. Expenditure approach - GDP is the sum of final uses of goods and services by resident institutional units (final consumption expenditure and gross capital formation (by Pi6)), plus exports and minus imports of goods and services. Household final consumption expenditure is published at one digit COICOP, however, it is available also at three digit COICOP. The sub-components of the expenditure approach are available at current and chain-linked volumes.
3. Income approach - GDP is the sum of uses in the total economy generation of income account: compensation of employees, taxes on production, less subsidies, gross operating surplus and mixed income of the total economy. These variables are available at current prices.