EU countries’ quarterly non-financial accounts by institutional sector

 

SUMMARY OF:

Regulation (EC) No 1161/2005 on collecting non-financial accounts by institutional sector

WHAT IS THE AIM OF THE REGULATION?

It draws up a set of rules for European Union (EU) countries to compile consistent quarterly non-financial statistics on the economic behaviour of individual institutional sectors*.

KEY POINTS

• EU countries must submit quarterly non-financial accounts to the European Commission, broken down by the following institutional sectors:
  • total economy,
  • unspecified total economy (generally pertaining to taxes and subsidies),
  • non-financial corporations (private and public corporate enterprises that produce goods or provide non-financial services),
  • financial corporations (private and public entities engaged in financial services such as banks, insurance and pension funds),
  • general government,
  • households and non-profit institutions serving households (NPISHs, e.g. charities and trade unions),
  • rest of the world (transactions with non-EU residents).
• The annex to the regulation provides a detailed matrix of the specific types of data required for each institutional sector, differentiating between uses and resources. The data required include:
  • individual and collective consumption expenditure,
  • capital formation,
  • exports and imports of goods and services,
  • employee compensation,
  • property income, interest and rents,
  • taxes, subsidies, social contributions and benefits,
  • insurance premiums and claims,
  • capital transfers, capital taxes and investment grants,
  • consumption of fixed capital,
  • gross value added,
  • disposable income,
  • saving,
  • net lending and borrowing.
• All EU countries must submit data corresponding to the rest of the world and general government sectors, while only those whose gross domestic product is normally more than 1 % of the EU total need to provide data for all institutional sectors.
• The accounts must be delivered at the latest 90 days after the end of the quarter to which the data relate, and must conform with Regulation (EC) No 2223/96 which introduced the 1995 version of the European system of accounts.
• In providing the data, EU countries should give priority to direct information, such as administrative sources or surveys of businesses and households, and must supply the Commission with a description of the sources, methods and statistical treatments used.
• The Commission will submit a report to the European Parliament and to the Council on the implementation of the regulation within 5 years.

FROM WHEN DOES THE REGULATION APPLY?

It has applied since 11 August 2005.

BACKGROUND

For more information, see:

• ‘Institutional sectors’ on Eurostat's website.

* KEY TERMS

MAIN DOCUMENT

Regulation (EC) No 1161/2005 of the European Parliament and of the Council of 6 July 2005 on the compilation of quarterly non-financial accounts by institutional sector (OJ L 191, 22.7.2005, pp. 22-28)

Successive amendments to Regulation (EC) No 1161/2005 have been incorporated in the original text. This consolidated version is of documentary value only.

last update 19.10.2016