D1,2.abs regional gdp china workshop

Australian National Accounts State Accounts

States of Australia

State Level Data Produced
Limited set of state data published in the Quarterly National Accounts
State Final Demand
Household and Government Consumption
Private and Government Capital Formation
International Trade in Merchandise
Compensation of Employees

State Level Data Produced
Full set of State Accounts produced annually
All three measures: Income, Expenditure & Production
Plus:
Income and Outlay Accounts
Capital Accounts
Agricultural Income

General Approach
National:
At the national level supply-use benchmarks are in place for t-1
These benchmarks are moved forward using movements from sub-annual indicator series
State:
Headline measure: GSP(A) = average of GSP(E/I) and GSP(P)
National Benchmarks – all state aggregates are set to equal national benchmarks
Note GSP = Gross State Product

GSP(E)
Calculated for each state by adding:
Final expenditures (government and household)
Private and public gross fixed capital formation
Exports less imports of goods and services
A balancing item
Balancing item includes changes in inventories and net interstate trade.

GSP(I)
Calculated for each state by adding:
Compensation of employees
Gross operating surplus
Gross mixed income
Taxes less subsidies on production and imports
Deflated to chain volume estimates using the implicit price deflator from GDP(E)

GSP(P) Methodology
Australia GVA by industry in current prices
Allocate to state using factor income shares in reference year
State GVA by industry in current prices
Apply quantity revaluation or price deflation to create the output indicator
Use output indicator with price information to create chain volume measure

GSP(P) methodology
State GVA by industry chain volume measures
Ownership of dwellings and Taxes less subsidies on products
GSP(P)

GSP(P) methodology
Almost all industries use an output indicator approach
i.e. extrapolate reference year estimates of current price GVA using movements in volume indicator of output
Agriculture uses a double deflation methodology
Most volume indicators derived by price deflation
i.e. dividing a price index into a current price value of sales or turnover
Quantity revaluation used when there are individual commodities that are reasonably homogeneous and not subject to quality change or where price change difficult to measure

GSP(P) methodology
Once each state’s current price and volume GVA estimates have been derived for each industry and Ownership of dwellings they are then benchmarked to the Australian total for each industry
This ensures that the sum of the states for each industry equals the Australian total
Each state’s benchmarked industry GVA estimates (current price and chain volume) are then summed to produce GVA at basic prices for each state
To derive GSP(P) Taxes less subsidies on products needs to be added to each state’s GVA at basic prices

Key Data Sources – GSP(P)
Quarterly Business Indicator Survey
All private non-financial corporations (excl agriculture) by state
Data Items: Sales, Wages, Profits, Inventories
Government Finance Statistics
All general government and public corporations by state/national
Administrative data from other government departments
Mining, Agriculture, Finance & Insurance, Health, Education
Price Indexes
Consumer Price Index (by State)
Producer Price Indexes (national except for construction)
Labour Price Index (by state)

Producer Price Indexes Combination price deflation and quantity revaluation. Double deflation (for Agriculture) and quantity revaluation (for Forestry and Fishing). State production value data and quantity data. A - Agriculture, Forestry and Fishing Producer Price Indexes Price deflation method. Current price turnover & GVA by state by sub-division C - Manufacturing Producer Price Indexes Combination price deflation and quantity revaluation. State production value data and quantity data B - Mining Price Indexes Methodology Industry

Producer Price Indexes Price deflation method. Current price turnover by state by sub-division F - Wholesale Trade Construction price indexes by state Price deflation method. Current price turnover by state by sub-division E - Construction Producer Price Indexes Combination price deflation and quantity revaluation. Electricity Gas and the Water groups are compiled by quantity revaluation at the subdivision level Waste services compiled by price deflation D - Electricity, Gas, Water and Waste Services Price Indexes Methodology Industry

Producer Price index Combination price deflation and quantity revaluation. Turnover data for transport and warehousing, quantity data for postal I - Transport, Postal and Warehousing Consumer Price index Price deflation method. Turnover data by subdivision H - Accommodation and Food Services Consumer Price index Price deflation method. Retail turnover data for all of Retail G - Retail Trade Price Indexes Methodology Industry

Producer Price Index Price deflation method. Current price turnover by state by sub-division L - Rental, Hiring and Real Estate Services Domestic Final Demand IPD Quantity revaluation method. National data are collected from the Australian Prudential Regulatory Authority (APRA) State splits using hours worked by state, by industry group from the Labour Force survey K - Financial and Insurance Services Consumer Prices Index Price deflation method Turnover data by subdivision J - Information Media and Telecommunication Price Indexes Methodology Industry

- Combination price deflation and quantity revaluation methods. Indicators are average hours worked by Government Administration employees O - Public Administration and Safety Producer Price Indexes Price deflation method. Current price turnover by state by sub-division N - Administrative and Support Services Producer Price Indexes Price deflation method. Current price turnover by state by sub-division M - Professional, Scientific and Technical Services Price Indexes Methodology Industry

Consumer Price Index Price deflation method. Current price turnover by state by sub-division R - Arts and Recreation Services Consumer Price Index Combination price deflation and quantity revaluation methods. Private health turnover Public health number of treatments Q - Health Care and Social Assistance - Quantity revaluation method. Student numbers for Preschool, Primary and Secondary, University, Vocational Education & Training Public sector expenditure on education by state is sourced from the Government Finance data P - Education and Training Price Indexes Methodology Industry

- Quantity revaluation method Government Finance data are used to determine state shares Taxes less subsidies on products Consumer Price Index Quantity revaluation method National current price split into states using the state shares of TFI Current price state estimates are quantity re-valued using the CVM for HFCE - Gross Dwelling Rents (actual plus imputed rent from owners of dwellings) Ownership of dwellings Consumer Price Indexes Price deflation method. Current price turnover by state by sub-division S - Other Services Price Indexes Methodology Industry

Key Issues – GSP(P)
A number of price indexes are representative of national, rather than state, price movements
Single deflation methodology used – output used as an indicator for value added, data on intermediate consumption not available on timely basis
We do not produce state supply-use or input-output tables - product mixes within industries may vary on a state basis, this is not picked up
Allocation of activity spread across regions i.e. Mining operation vs Mining company headquarters

Further information
National Accounts: Concepts Sources and Methods
Catalogue number 5216.0
Information Paper: Gross State Product using the Production Approach GSP(P)
Cat. No. 5220.0.55.002
Australian National Accounts: State Accounts
Cat. No. 5220.0

Questions?

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D1,2.abs regional gdp china workshop

by Fundação de Economia e Estatística on Apr 23, 2010

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D1,2.abs regional gdp china workshop — Presentation Transcript