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CHAPTER X - NATIONAL ACCOUNTS

ESTIMATION OF GROSS DOMESTIC PRODUCT (GDP)

        Department of Census and Statistics uses the system of National Accounts – 1993 for preparation of National Accounts of Sri Lanka.

        In the estimates of GDP by industrial origin, the three approaches, production, income and expenditure approach are used, depending on the type of basic data available.

       The production approach is mainly use in estimating the value added of agriculture, livestock and fisheries and manufactured goods (factory industry).

       The income approach is exercise in the case of cottage industries and other services (including government).

       Indirect methods are mostly used in determining the net output of construction.

       The current values of gross domestic products estimates convert to constant price estimates of gross domestic products by the methods of deflation and extrapolation using the price indices and quantity indices. The year 2002 is used as the base year..

       Departmental release of ‘Annual Publication on National Accounts’ of Sri Lanka contains more detailed national accounts tables. This includes the consolidated national accounts tables with disposable income, gross domestic product, expenditure, capital finance and rest of the world accounts..

       Income and outlay accounts were computed and given for the sectors of general government and households.

       The tables of Reconciliation of key aggregates of GDP are also included in the annual publication.

       According to the implementation of SNA 1993, 15 tables on Production Accounts are published in the Annual publication..

DISTRIBUTION OF GROSS NATIONAL INCOME       

         The gross domestic income is the total income received from the resident factors of production, which are engaged directly in the current production of goods and services. It includes the sum of all wages, profits, and taxes, minus subsidies and the sum of rewards accrued..                               

        The addition of net factor income of rest of the world to the gross domestic income (GDI) gives the national income (GNI) of the country.

        Compensation of General Government is the net value of government services sector including the salaries and wages and other allowances. (This excludes the government commercial enterprises). Data on savings of corporation, direct taxes on corporations, general government income and interest on public debt are obtained from the State Accounts.

        In the case of private sector employees, estimates are based on Census data suitably adjusted for changes in population and wage rates data on corporate income and direct taxes are obtained from the non – corporate enterprises is taken as the residual.

EXPENDITURE ON GROSS NATIONAL PRODUCT AT CURRENT AND CONSTANT PRICES 

       This table is prepared in conformity with the United Nations Classification of expenditure on Gross Domestic Product at Current and Constant prices. This includes information for sub – sectors of private final consumption, government consumption, Capital formation, imports of goods and non factor services and exports of goods and non factor services. More disaggregated information is given in separate tables for private final consumption and capital formation.

10.1

Summary indicators, 2007 – 2013      
10.2

Gross Domestic Product by industrial origin at current producer prices, 2007- 2013
10.3

Gross Domestic Product by industrial origin at constant (2002) prices, 2007 - 2013
10.4

Gross Domestic Product (value added) in agricultural sector at current producers’ prices by industrial activities, 2007 - 20123

10.5

Gross Domestic Product (value added) in agricultural sector at constant (2002) prices by industrial activities, 2006 – 2012

10.6

Expenditure on Gross Domestic Product at current prices, 2007-2013
10.7

Reconciliation of key aggregates, 2007 - 2013
10.8

Government final consumption expenditure by purpose at current prices, 2007 - 2013
10.9

Government final consumption expenditure by purpose at constant (2002) prices, 2008- 2013

10.10

External transactions on current account, 2008 - 2013