National income statistics

At its first session inthe United Nations Statistical Commission UNSC emphasized the need for international statistical standards for the compilation and updating of comparable statistics in support of a large array of policy needs. In view of the emphasis on international statistical standards throughout the history of the Commission, the following national accounts standards were produced: It consisted of a set of six standard accounts and a set of 12 standard tables presenting detail and alternative classifications of the flows in the economy. The concepts and definitions of the accounts were widely applicable for most countries, including developing countries.

National income statistics

Statistics, National Income the branch of economic statistics that studies the production, distribution, and use of national income. In the USSR the national income of the entire country and of each Union republic is computed each year by sector of the national economy and by form of ownership.

The national income is computed by the following methods: The net output of the sectors of material production is determined for each sector as the difference between gross output and material production expenditures outlays for raw and processed materials, fuel, and electrical energy, as well as depreciation on fixed capital stock.

The primary income of persons employed in sectors of material production includes the wages of production and office workers, the income of kolkhoz members received for work at the kolkhoz, and the income derived from personal subsidiary plots.

The primary income of production enterprises includes profits, turnover taxes, deductions for social insurance, and other elements of net income.

National income statistics

Income received on the basis of redistribution, called secondary income, is excluded from the national income. Nonproductive consumption includes personal consumption of material goods by the population and material expenditures at institutions serving the population, at scientific institutions, and at general management institutions.

Personal consumption by the population, which accounts for nine-tenths of the volume of nonproductive consumption, consists of the consumption of food products and nonfood goods purchased in state or cooperative retail stores and at kolkhoz markets, the consumption of produce received for work at kolkhozes or from personal subsidiary plots, and the part of the value of dwellings that corresponds to annual depreciation.

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Accumulation includes the annual increments in production and nonproduction fixed assets buildings and structures, machinery and equipment, working and productive livestockincrements in material circulating capital stocks of raw and processed materials, fuel, and finished output, as well as products left over from the retail trade and uncompleted constructionand increments in state material reserves and in stocks of agricultural products from personal subsidiary plots.

National income is computed either in the actual prices of each year or, in order to study changes over time, in comparable constant prices. Link to this page:Australian Bureau of Statistics, Australian National Accounts: Concepts, Sources and Methods, This fairly large document has a wealth of information on the meaning of the national income and output measures and how they are obtained.

National income accounting is essentially adding up all of the economic activity in a nation within a certain period of time. Such economic measures as Gross Domestic Product (GDP) and Gross.

Widening Inequality Since the s. Census family income data show that the era of shared prosperity ended in the s and illustrate the divergence in income that has emerged since that time. The statistics include gender, age, income and tax distribution, income source, country and geographical area.

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They are based on the Survey of Personal Incomes (SPI) an annual sample survey of. National Income. Gross Domestic Product (GDP) and Gross National Income (GNI) are core statistics in National Accounts. They are both important economic indicators and useful for analysing the overall economic situation of an economy, with the former particularly useful for reflecting the level of production, and the latter for aggregate income of residents.

National income statistics

A. National income per capita - see above. B. Physical Quality of Life Index (PQLI) - Developed by the Overseas Development Council. An unweighted average of index numbers for the infant mortality rate, life expectancy, and adult literacy.

What is the significance of national income accounting or social accounting?