Australian Bureau of Statistics
5204.0 - Australian System of National Accounts, 2002-03
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 05/11/2003
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13 While each measure should, conceptually, deliver the same estimate of GDP, if the three measures are compiled independently using different data sources then different estimates of GDP result. However, the Australian national accounts estimates have been integrated with annual balanced supply and use tables. These tables have been compiled from 1994-95, up to the year preceding the latest completed financial year. As integration with balanced supply and use tables ensures that the same estimate of GDP is obtained from the three approaches, annual estimates using the I, E and P approaches are identical for the years for which these tables are available.
14 The estimates for years prior to 1994-95 and for the latest year have not been balanced using supply and use tables, and there are usually differences between the I, E and P estimates for these periods. Nevertheless, for these periods, a single estimate of GDP has been compiled by averaging the three measures.
15 As a result of the above methods:
16 The industry statistics in this publication are based on the Australian and New Zealand Standard Industrial Classification (ANZSIC) (cat.no.1292.0).
Reliability and future revisions
17 National accounts estimates are prepared from a wide range of statistical sources, some of which are available quickly and some only with a delay of several years. Some are closely related to the desired national accounting basis, but others are not completely satisfactory in various respects, including coverage, concepts and timing. Most of the basic data derive from the general system of statistical surveys or as a by-product of government administrative processes. The frequency, detail and timeliness of these data sources are constrained by many factors, including the other purposes which they must serve. Any increase in timeliness of data is usually at the expense of detail, reliability or additional resources. Therefore, estimates for recent years may be subject to considerable revision as firmer data become available.
Other national accounts statistical publications
18 This publication is part of a regular sequence of national accounts publications. The key national accounts publication is the quarterly national accounts released as Australian National Accounts: National Income, Expenditure and Product (cat.no.5206.0) every three months approximately two months after the end of the reference period. The first estimates of national accounts for a particular financial year are released in the June quarter issue of 5206.0, generally released in early September.
19 State estimates are compiled on a quarterly basis for the aggregate State Final Demand and its components. These results are published in 5206.0. On an annual basis estimates of Gross State Product (GSP) and other relevant State data are made for each State and Territory. These are released in the publication Australian National Accounts: State Accounts (cat.no.5220.0) shortly after the release of 5204.0 and are fully consistent with the Australian level estimates contained in 5204.0.
20 Input-output tables for 1996-97, consistent with the 1996-97 estimates for income, expenditure and production shown in the 1999-2000 issue of this publication, are available in Australian National Accounts: Input Output Tables 1996-97 (cat.no.5209.0). Related to this release is the detailed commodity information contained in Australian National Accounts: Input-Output Tables (Commodity Details) (cat.no.5215.0)
21 In recent years a significant amount of progress has been made in developing estimates of the contribution of tourism to the Australian economy in the form of a tourism satellite account. The first results of this work were published with respect to the single year 1997-98. Annual estimates have subsequently been released for 2000-01 and 2001-02 in Australian National Accounts: Tourism Satellite Account (cat.no.5249.0).
Feature articles and technical notes
22 Feature articles and technical notes are written on a regular basis to inform users of emerging issues and methodological changes and their impact on the national accounts. Most commonly feature articles and technical notes are released in the quarterly publication 5206.0 but other publication vehicles are also used. A full listing of feature articles published since December 1988 is included in Appendix 2.
23 Occasional Papers produced by officers of the ABS report on various aspects of research being undertaken on the national accounts. They are not used for the release of official statistics and do not necessarily reflect the views of the ABS. The following Occasional Papers are available:
Current-Cost and Constant-Cost Depreciation and Net Capital Stock-C.Bailey(1981/1)
The Accuracy and Reliability of the Quarterly Australian National Accounts-A.Johnson(1982/2)
State Accounts, Australia: Issues and Experimental Estimates-S.Burrell, J.Daniel, A.Johnson and R.Walters (1984/4)
The Effects of Rebasing the Constant Price Estimates of the Australian National Accounts-R.Dippelsman(1985/1)
Estimates of Depreciation and Capital Stock, Australia-R.Walters and R.Dippelsman (1985/3)
Estimates of Multifactor Productivity, Australia-C.Aspden (cat.no.5233.0)
Productivity, Prices, Profits and Pay, 1964-65 to 1989-90 (cat.no.5239.0)
Balanced Australian National Accounts-C. Kim, G. Salou, P. Rossiter (Working Papers in Economics and Applied Statistics, 94/2, (cat.no.351.0)
Measuring Unpaid Work: Issues and Experimental Estimates (cat.no.5236.0)
Unpaid Work and the Australian Economy, 1997 (cat.no.5240.0)
National Balance Sheets for Australia: Issues and Experimental Estimates, 1989-1992 (cat.no.5241.0)
24 Information Papers are published by the ABS to provide information on topical issues and developments. The following Information Papers relating to national accounting issues are available:
Development of Multifactor Productivity Estimates for Australia 1974-75 to 1987-88 (cat.no.5229.0)
Improvements to ABS Economic Statistics (cat.no.1357.0)
Introduction of Revised International Statistical Standards in ABS Macro-economic Statistics (cat.no.5245.0)
Implementation of Revised International Standards in the Australian National Accounts (cat.no.5251.0)
Introduction of Chain Volume Measures in the Australian National Accounts (cat.no.5248.0)
Upgraded Australian National Accounts (cat.no.5253.0)
Upgraded Australian National Accounts: Financial Accounts (cat.no.5254.0)
ABS Statistics and the New Tax System (cat.no.1358.0)
Improvements in ABS Economic Statistics [Arising from the New Tax System] (cat.no.1372.0)
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This page last updated 20 June 2006