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…
Gross domestic product, GDP, indicates the size of a country's economy. GDP can be calculated in three ways:
- Gross domestic product (GDP) in market prices is calculated from the production side by subtracting from production at market prices the total value of intermediate consumption at buyer prices.
- It can also be calculated from the income side as compensation of employees plus the surplus of production and mixed income plus taxes on production, net.
- Finally it can be calculated from the application side as the sum of all final uses in buyer prices minus the import of goods and services.
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)
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
For an overview of sources on industry level see Branchefordelt kildeoversigt (In Danish).
Annual GDP and imports by uses
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
For an overview of sources on industry level see Branchefordelt kildeoversigt (In Danish).
Distribution of income on compensation of employees and profits
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
For an overview of sources on industry level see Branchefordelt kildeoversigt (In Danish).
Gross domestic product and gross national income
Data sources include:
Administrative data, accounting statements, tax data, statistical surveys of businesses and households, trade statistics on goods and services, balance of payments information and energy accounts.
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:
The purpose of the statistics is to bring together the benefits from the national accounts system, which provides a coherent description of the economy, and from microeconomic statistics on households, so that one can take a closer look at how incomes and consumption are distributed between different types of households.
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 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.
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 purpose of the statistics is to provide a detailed picture of the economy’s total production apparatus and the part of national wealth that is held in fixed assets. Fixed assets are compiled in accordance with the guidelines in the European System of Accounts, ESA 2010, and are based on the national accounts series for investment. Fixed assets according to ESA 2010 were published for the first time in September 2014.
Household final consumption expenditure (HFCE) is a central component of the national accounts and reflects households’ purchases of goods and services. The national accounts provide a comprehensive description of the economy as well as the transactions occurring between households, businesses, public institutions, and abroad.
Consistent time series for annual HFCE figures are available from 1966, and quarterly figures are available from Q1 1990.
The quarterly national accounts provide a comprehensive and up-to-date description of the economy and its development. The main focus is on short-term economic fluctuations, making it particularly useful for business cycle analysis, assessing economic conditions, and as a basis for economic models and forecasts. The statistics describe the economy as a whole, including transactions between households, businesses, and institutions, as well as transactions between Denmark and abroad. It has been compiled since 1988 and is fully comparable from first quarter 1990.