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1301.0 - Year Book Australia, 2012  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 24/05/2012   
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National accounts

INTRODUCTION

National accounts are designed to provide a systematic summary of national economic activity and have been developed to assist in the practical application of economic theory.

The Australian system of national accounts includes national income, expenditure and product accounts; financial accounts; the national balance sheet; input-output tables; and satellite accounts. At their summary level, the national accounts reflect key economic flows production, the distribution of incomes across sectors, consumption, saving and investment. At their more detailed level, they are designed to present a statistical picture of the structure of the economy and the detailed processes that make up domestic production and its distribution.

The financial accounts show the financial assets and liabilities of the nation and of each institutional sector and inter-sectoral financial transactions. The balance sheet is a comprehensive statement of produced and non-produced assets, liabilities to the rest of the world and net worth. Satellite accounts allow the development of an integrated set of statistics about a particular sector that crosses a number of industries or sectors. Input-output tables show the structure of a country's production system for a particular period. They show which goods and services are produced by each industry and how they are used.

The national accounts also include many detailed classifications (e.g. by industry, by purpose, by commodity, by state and territory, and by asset type) relating to major economic aggregates.

This chapter contains a special article, Which is the best short-term measure of gross domestic product?

The information presented in this chapter is on the same conceptual basis as the information presented in chapter 31 INTERNATIONAL ACCOUNTS AND TRADE. However, estimates in the two chapters differ as they are based on information compiled at different points in time.

Other related information can be found in chapters 15 INDUSTRY STRUCTURE AND PERFORMANCE and 27 FINANCIAL SYSTEM.

 

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Statistics contained in the Year Book are the most recent available at the time of preparation. In many cases, the ABS website and the websites of other organisations provide access to more recent data. Each Year Book table or graph and the bibliography at the end of each chapter provides hyperlinks to the most up to date data release where available.


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