CZECH STATISTICAL OFFICE
Department of Quarterly National Accounts
Quarterly National Accounts
Inventories
Czech Republic
GRANT AGREEMENT NUMBER – 41100.2005.006-2006.547
Contact person: Mr Jan HELLER
+420 27405 2865
jan.heller@czso.cz
28 March 2008
___________________________________________________________________________
This document has been produced with the financial assistance of the European Commission.
The views expressed herein are those of the author and can therefore in no way be taken to
reflect the official opinion of the European Commission.
2
Table of Contents
Introduction........................................................................................................................................................... 3
Chapter 1 Overview of the system of quarterly accounts................................................................................ 4
1.1 Organisation and institutional arrangements................................................................................................. 4
1.2 Publication timetable, revisions policy and dissemination of QNA.............................................................. 6
1.3 QNA compilation approach .......................................................................................................................... 6
1.4 Balancing, benchmarking and other reconciliation procedures..................................................................... 6
1.5 Volume estimates.......................................................................................................................................... 6
1.6 Seasonal adjustment and working-day correction......................................................................................... 6
1.7 Additional information.................................................................................................................................. 7
Chapter 2 Publication timetable, revision policy and dissemination of QNA................................................ 7
2.1 Release policy ............................................................................................................................................... 7
2.2 Contents published........................................................................................................................................ 8
2.3 Special transmissions .................................................................................................................................... 9
2.4 Policy for metadata ....................................................................................................................................... 9
Chapter 3 Overall QNA compilation approach................................................................................................ 9
3.1 Overall compilation approach....................................................................................................................... 9
3.2 Balancing, benchmarking and other reconciliation procedures................................................................... 11
3.2.1 Quarterly GDP balancing procedure.................................................................................................... 11
3.2.2 Benchmarking of QNA and ANA........................................................................................................ 11
3.3 Volume estimates........................................................................................................................................ 12
3.3.1 General volume policy ......................................................................................................................... 12
3.3.2 Chain-linking and benchmarking......................................................................................................... 13
3.3.3 Chain-linking and seasonal adjustment................................................................................................ 13
3.4 Seasonal adjustment and working-day correction....................................................................................... 13
3.4.1 Policy for seasonal adjustment............................................................................................................. 13
3.4.2 Policy for working-day correction ....................................................................................................... 14
Chapter 4 GDP components: the production approach ................................................................................ 15
4.1 Gross value added, including industry breakdowns (but excluding FISIM) ............................................... 15
4.2 FISIM.......................................................................................................................................................... 20
4.3 Taxes less subsidies on products................................................................................................................. 21
Chapter 5 GDP components: the expenditure approach............................................................................... 23
5.1 Household final consumption expenditure.................................................................................................. 23
5.2 General government final consumption expenditure .................................................................................. 23
5.3 Final consumption expenditure of non-profit institutions serving households............................................ 24
5.4.a Gross fixed capital formation................................................................................................................... 24
5.4.b Changes in inventories and acquisition less disposal of valuables........................................................... 26
5.5 Exports and imports of goods and services................................................................................................. 26
Chapter 6 GDP components: the income approach ....................................................................................... 27
6.1 Compensation of employees ....................................................................................................................... 27
6.2 Taxes less subsidies on production ............................................................................................................. 29
6.3 Gross operating surplus & mixed income ................................................................................................... 30
Chapter 7 Population and employment........................................................................................................... 30
7.1 Population ................................................................................................................................................... 30
7.2 Employment: persons.................................................................................................................................. 31
7.3 Employment: total hours worked ................................................................................................................ 31
Chapter 8 From GDP to net lending/borrowing............................................................................................. 32
8.1 Primary income from/to the ROW, gross national income ......................................................................... 32
8.2 Consumption of fixed capital, net national income, acq. less disp. of non-financial non-produced assets. 33
8.3 Current transfers from/to the ROW, net national disposable income.......................................................... 34
8.4 Adjustment for the change in net equity, net saving ................................................................................... 35
8.5 Capital transfers, net lending/borrowing..................................................................................................... 35
Chapter 9 Flash estimates................................................................................................................................. 35
9.1 Flash GDP estimates ................................................................................................................................... 35
9.2 Flash employment estimates ....................................................................................................................... 36
Chapter 10 Main data sources used................................................................................................................... 37
Annex Questionnaires of the quarterly enterprise survey in 2007......................................................... 59
3
Introduction
The aim of this document is to provide a description of data sources and compilation methods,
which are used for quarterly national accounts (QNA) in the Czech Republic. This description
is called “QNA Inventories” and its main purpose is to enable assessment of observance with
the European national accounting standard (ESA 95) and related legislation. Structure of the
document is similar to the “GNI Inventory” which relate to compilation of annual national
accounts. Unlike annual GNI Inventory, the content of QNA Inventories is less detailed and
focused on specific quarterly issues.
A template for the QNA Inventories was approved by the Working Group on National
Accounts in May 2006. Its structure is broadly inspired by the GNI Inventory, but adapted to
the features of QNA. This document encompasses all proposed chapters, including voluntary
chapter dealing with the main quarterly data sources used. The inventories do not cover
compilation of quarterly sector accounts or short-term public finance statistics.
A brief description of data sources and compilation methods was produced within the project
“Quarterly National Accounts” under the Phare 2002 programme. One of the activities
performed within this project was compilation of the “Questionnaire on scope, content,
sources and methods“. It served as a basis for QNA Inventories. Because information
provided in this questionnaire was related to the methodology applied in 2005, it was
necessary to describe all methodological changes that have been implemented from that time
and include parts of the QNA system that were not described in the questionnaire.
For the time being, this document does not include numerical illustrations. The reason
consists in the fact that the computational system of QNA is currently being redesigned and
inclusion of illustrations would be difficult. The new computational system will facilitate
providing more detailed information on the computation process. First results of the improved
system will be released in June 2008. After that, this document will be extended by numerical
illustrations.
It is intended that QNA Inventories will be regularly updated with the aim to encompass all
methodological changes that will be implemented in future. Updating is planned to be done
once a year.
4
Chapter 1 Overview of the system of quarterly accounts
1.1 Organisation and institutional arrangements
In the Czech Republic, quarterly national accounts (QNA) are compiled by the Czech
Statistical Office (CZSO). The position of the CZSO as a central agency is defined by
Competence Act No. 2/1969 passed by the Czech National Council, as amended. The mission,
task, organisational structure, rights and duties of the CZSO are regulated by Act No. 89/1995
Coll. on the State Statistical Service as amended, and by the Statute of the Czech Statistical
Office approved by Resolution of the Government of the Czech Republic No. 1160 of
7 November 2001.
The CZSO is an independent institution headed by president, who is appointed by President of
the Czech Republic at the proposal of the Government. The CZSO’s president attends
Government sessions with no right to vote.
The Macroeconomic Statistics Branch of the CZSO includes four departments: the Annual
National Accounts Department, the Quarterly National Accounts Department, the
Prices Statistics Department and the External Trade Statistics Department. Organisation
chart of two departments engaged in compilation of national accounts is indicated below.
The Quarterly National Accounts Department consists of three sections. Most of work related
to compilation of QNA is done at the Quarterly Accounts Section which employs 8 staff
members. Quarterly estimates for the general government sector and taxes and subsidies on
production are prepared by the Government Accounts Section which is also responsible for
compilation of annual sector accounts for the general government sector and Excessive
Deficit Procedure notifications (4 staff members are engaged in quarterly accounts). The
Model Calculation Section deals with cross-sectional issues in national accounts, e.g.
regional accounts and the European Comparison Programme. This section is not directly
involved in compilation of quarterly GDP estimates.
A part of QNA computations is done by experts from the Annual National Accounts (ANA)
Department, e.g. estimates of value added in financial intermediation, imputed rent, individual
housing construction and transition from GDP to net lending/borrowing. In these cases it is
efficient that one expert is responsible for both quarterly and annual figures. 5 staff members
from the ANA Department partcipate in compilation of QNA.
QNA are compiled in close cooperation with other departments of the CZSO. Price indices
that are used for deflation are taken from the Prices Statistics Department. Exports and
imports of goods and a significant part of exports and imports of services is compiled by the
External Trade Statistics Department. Household final consumption expenditure is
estimated mainly using results from household budget surveys, for which the Household
Surveys Department is responsible. Processing of quarterly enterprise surveys, which serve
as the main data source for QNA, is coordinated by the Structural Surveys Department.
A part of data sources is obtained from other institutions. Particularly administrative data
related to the general government sector and taxes and subsidies on production are taken from
the Ministry of Finance. Balance of payments is compiled by the Czech National Bank.
5
Administrative data on numbers of social insurance holders are taken from the Czech Social
Security Administration.
Quarterly Accounts Section also coordinates compilation of quarterly non-financial sector
accounts. Number of experts engaged in their compilation is higher than in case of quarterly
GDP estimates. Quarterly financial sector accounts are compiled by the Czech National
Bank (with the exception of financial accounts of the general government sector which are
compiled by the CZSO).
Organisation chart of national accounts departments in 2007
Brief history of QNA in the Czech Republic
The first quarterly estimates of GDP and other macroeconomic indicators of the newly formed
Czech Republic were published in September 1993. Time series concerned the period from
the first quarter 1990 to the second quarter of 1993 without seasonal adjustment. GDP was
estimated by means of both production and expenditure approaches but only following 9 basic
indicators were shown:
Gross domestic product
Household and government final consumption expenditure
Gross fixed capital formation
Change in inventories and reserves
Exports and imports of goods and services without relation to Slovakia on the one hand
and only to Slovakia on the other hand
QNA have been developed and innovated from that time so as they fulfill most Eurostat
requirements at present.
4101
Sectoral Accounts Section
Kermiet Vladimír
tel. 274054247; vladimir.kermiet@czso.cz
4102
Financial Accounts Section
Rybáček Václav
tel. 274052596; vaclav.rybacek@czso.cz
4103
Non-financial Assets Section
Votoček Luboš
tel. 274054195; lubos.votocek@czso.cz
4104
Input-Output Tables Section
Sixta Jaroslav
tel. 274054253; jaroslav.sixta@czso.cz
41
Annual National Accounts Department
Ondruš Vítězslav
tel. 274052445; vitezslav.ondrus@czso.cz
4201
Quarterly Accounts Section
Široký Michal
tel. 274054266; michal.siroky@czso.cz
4202
Government Accounts Section
Vebrová Ludmila
tel. 274052975; ludmila.vebrova@czso.cz
4203
Model Calculations Section
Marešová Daniela
tel. 274052444; daniela.maresova@czso.cz
42
Quarterly National Accounts Department
Heller Jan
tel. 274052865; jan.heller@czso.cz
6
1.2 Publication timetable, revisions policy and dissemination of QNA
Regular estimates of QNA aggregates are published approximately 70 days after the end of
the reference quarter. Because this delay is inconvenient for some users, it was decided to
introduce more rapid releases which are generally known as flash estimates. Starting from the
estimate for 4th
quarter 2007, these estimates will be published approximately 45 days after
the end of the reference quarter under the official name “GDP preliminary estimate“.
Most of requirements of the ESA95 transmission programme are fulfilled. The missing
quarterly aggregates will be provided during 2008.
1.3 QNA compilation approach
Methodology of QNA follows the European System of Accounts (ESA95). Statistical
methods used for compiling QNA belong mainly to the group of “direct procedures”. This
approach is facilitated in the Czech Republic by availability of relatively extensive direct data
sources, represented mainly by the quarterly enterprise survey. The use of indirect procedures
consisting in disaggregation of annual figures with the help of proxy indicators is limited to
the cases when sufficient quarterly sources are not available.
1.4 Balancing, benchmarking and other reconciliation procedures
GDP is compiled independently using two computational methods – the production
approach and the expenditure approach. The income approach is not involved in the
balancing process because gross operating surplus (including mixed income) is derived as a
residual item. Differences between results of both approaches are removed in the balancing
process.
1.5 Volume estimates
General procedure of volume measures calculation consists of two steps: First figures at
current prices are converted to previous year’s average prices using appropriate price indices.
Figures at previous year’s prices are then chain-linked in order to obtain comparable time
series of volume measures. Chain-linking of quarterly figures is performed using the annual
overlap technique, i.e. figures at previous year’s prices are scaled down to the average price
level of the chosen reference year using annual deflators.
1.6 Seasonal adjustment and working-day correction
GDP and its components according to the production, expenditure and income approach are
available also in the seasonally adjusted form. Calculations are made using the Tramo/Seats
method. Seasonal adjustment is conducted each quarter. Once a year, within estimate for 1st
quarter (published in June), whole time series of adjusted data are revised. Within estimates
for the other quarters, revision of adjusted data is limited only to periods for which raw data
are revised.
Working-day correction is performed only for selected time series for which this effect is
explainable from the economic point of view. Regression approach with one regression
variable is applied (i.e. working days and non-working days are distinguished).
7
1.7 Additional information
The main page related to QNA in the Czech Republic can be found at:
http://www.czso.cz/eng/redakce.nsf/i/quarterly_national_accounts
Regular electronic publication can be downloaded under:
http://www.czso.cz/eng/edicniplan.nsf/p/50n1-el
Complete time series of QNA can be downloaded under:
http://www.czso.cz/eng/redakce.nsf/i/hdp_ts
Chapter 2 Publication timetable, revision policy and dissemination of QNA
2.1 Release policy
Regular estimates of QNA aggregates are published approximately 70 days after the end of
the reference quarter. Press releases include the main figures for the last quarter, information
about possible revisions and a brief analysis of the current development of the economy.
Emphasis is put on the expenditure components of GDP and the output side of GDP. Press
releases are complemented with an electronic publication and a set of tables with quarterly
time series which are available on the CZSO website.
Press releases related to regular estimates can be found at:
http://www.czso.cz/eng/csu.nsf/kalendar/aktual-hdp
Because publication delays of regular estimates are inconvenient for some users, it was
decided to introduce more rapid releases which are generally known as flash estimates.
Starting from the estimate for 4th
quarter 2007, these estimates will be published
approximately 45 days after the end of the reference quarter under the official name “GDP
preliminary estimate“. Scope of preliminary estimates will be limited to volume indices of
GDP and values of GDP at current prices.
Press releases related to preliminary estimates will be available at:
http://www.czso.cz/eng/csu.nsf/kalendar/aktual-poh
An official release calendar is available on the CZSO website approximately four month
before beginning of the respective year. Calendar of national accounts releases in 2008
(covering both quarterly and annual national accounts) can be found at:
http://www.czso.cz/eng/redakce.nsf/i/calendar_of_national_accounts_releases_2008
Within every regular quarterly estimate, revisions of results for previous periods are made.
Quarters of the current year may be corrected on the basis of more complete and updated
quarterly data sources. Moreover, revisions due to compilation of annual national accounts are
made twice a year. Within every estimate for 1st
quarter (published in June), quarters of the
year T-3 are corrected due to definitive version of annual accounts and quarters of the year T-
2 are corrected due to semi-definitive version of annual accounts. Within every estimate for
3rd
quarter (published in December), quarters of the year T-1 are corrected due to preliminary
version of annual accounts. No revisions are released within preliminary quarterly estimates.
Different revision policy is related to seasonally adjusted figures – see chapter 3.4.
8
Quarterly non-financial sector accounts are released approximately 90 days after the end of
the reference quarter as well as short-term public finance statistics (table 25). Figures for all
sectors are sent to Eurostat. Only quarterly accounts for the general government sector and the
household sector are published on the CZSO website. No press release concerning quarterly
sector accounts is prepared. Some aggregates are revised in comparison to the regular release
because of more complete quarterly data sources.
2.2 Contents published
Following quarterly tables of the ESA95 transmission programme are published
approximately 70 days after the end of the reference quarter:
Table 0101: Gross value added at basic prices and gross domestic product at market prices
(gross value added is published in A17 breakdown)
Table 0102: GDP identity from the expenditure side (without breakdown of gross fixed
capital formation for 1995-2002, without split of general government final consumption
expenditure into individual and collective consumption)
Table 0103: GDP identity from the income side (compensation of employees and wages
and salaries in A17 breakdown)
Table 0107: Disposable income, saving, net lending/borrowing
Table 0109: Real disposable income
Table 0110: Population and employment
Table 0111: Employment by industry (numbers of persons and numbers of hours worked
in A17 breakdown)
Above mentioned tables are published in raw (non-seasonally adjusted) form. Contents of
seasonally adjusted (and possibly working-day corrected) data is described in chapter 3.4.
All time series are available from 1st
quarter 1995, only figures at previous year’s prices and
chain-linked series are available from 1st
quarter 1996. Completion of these series for quarters
of 1995 is envisaged.
The rest of requirements of the transmission programme will be fulfilled during 2008:
Table 0102: Breakdown of gross fixed capital formation by type of capital for period
1995-2002 (March 2008)
Table 0117: Final consumption expenditure of households by durability (March 2008)
Table 0120: Exports of goods and services by Member states of the EU/third countries
(June 2008)
Table 0121: Imports of goods and services by Member states of the EU/third countries
(June 2008)
Coverage of quarterly non-financial sector accounts
Complete table 0801Q of the ESA95 transmission programme was transmitted to Eurostat for
the first time on 3 January 2008. It included all required quarterly figures for the period from
1st
quarter 1999 to 3rd
quarter 2007. Figures on revenues and expenditures are presented
separately for five sectors (without taxes and subsidies on products) in full extent.
Following results of QNA are overtaken by quarterly non-financial sector accounts:
Production approach: output, intermediate consumption, taxes and subsidies on products
9
Expenditure approach: household, government and non-profit institution serving
household final consumption expenditure, gross fixed capital formation, change in
inventories, net acquisition of valuables, exports and imports of goods and services
Income approach: compensation of employees, consumption of fixed capital, other taxes
and subsidies on production, gross operating surplus and mixed income
2.3 Special transmissions
All compiled tables of the ESA95 transmission programme are sent via GESMES to Eurostat
and to the Statistics Directorate of the OECD. No institution, either domestic or international,
is privileged to have the results before the official release.
2.4 Policy for metadata
QNA of the Czech Republic subscribes to the Special Data Dissemination Standard (SDDS)
established by the International Monetary Fund (IMF). Metadata related to national accounts
can be found at:
http://dsbb.imf.org/Applications/web/sddsctycatbaselist/?strcode=CZE&strcat=NAG00
Chapter 3 Overall QNA compilation approach
3.1 Overall compilation approach
Methodology of QNA follows the European System of Accounts (ESA95). Statistical
methods used for compiling QNA belong mainly to the group of “direct procedures” (ESA95,
§12.04). Direct procedures are based on the availability at quarterly intervals, with appropriate
simplifications, of the similar sources as used to compile the annual accounts. This approach
is facilitated in the Czech Republic by availability of relatively extensive direct data sources,
represented mainly by the quarterly enterprise survey (see chapter 10, source 1). The use of
indirect procedures consisting in disaggregation of annual figures with the help of proxy
indicators is limited to the cases when sufficient quarterly sources are not available.
The process of quarterly GDP estimation can be briefly described in following steps:
1. Acquisition of source data from surveys and administrative sources.
2. Immediate validation of source data and making possible corrections of the data.
3. Building the quarterly time series database.
4. Benchmarking of quarterly source data to corresponding annual source data.
5. Benchmarking of quarterly conceptual adjustments and adjustments for exhaustiveness to
corresponding annual figures.
6. Balancing of the production approach and the expenditure approach to GDP at current
prices; obtaining the final GDP at current prices.
7. Conversion of GDP components of the production approach and the expenditure approach
from current prices to previous year’s prices.
8. Benchmarking of GDP components at previous year’s prices to corresponding annual
figures at previous year’s prices.
9. Balancing of the production approach and the expenditure approach to GDP at previous
year’s prices; obtaining the final GDP at previous year’s prices.
10. Seasonal adjustment of GDP and its components – separately for current prices and
volume measures after chain-linking.
10
Validation and corrections of source data, included in the second step, consists mainly in
proper settings of principal activities for units that are subject to organisational changes,
correction of obvious mistakes in surveys, etc. Conceptual adjustments are made due to
differences between business accounting rules and national accounting rules. Adjustments
for exhaustiveness are made with the aim to cover transactions that are not directly observed
via regular statistical surveys or administrative sources. When reliable quarterly data for some
conceptual adjustment or adjustment for exhaustiveness are not available, estimates based on
the quarterly pattern of surveyed data or expert estimates are used. The procedures of
benchmarking, balancing, conversion to previous year’s prices and seasonal adjustment
are described in following sub-chapters.
From the technical point of view, the computational system is based on Microsoft Excel.
Standardized templates are used for some types of computations, e.g. benchmarking and
conversion to previous year’s prices. Analysis of individual data of the statistical surveys is
performed using Microsoft Access.
Reconciliation of QNA is currently not based on the system of quarterly supply and use
tables. However, weighting schemes derived from annual supply and use tables are utilized in
the process of conversion of figures at current prices to previous year’s prices. Introduction of
quarterly supply and use tables, with the aim to improve the balancing process, represents the
long-term objective of QNA development.
Classifications used in QNA
The most important classifications used in QNA include the industrial classification of
economic activities (CZ-NACE), the classification of products (CZ-CPA and SITC), the
classification of institutional sectors (based on ESA95), the classification of individual
consumption by purpose (CZ-COICOP) and the classification of fixed assets (based on
ESA95). In general classifications used in QNA are more aggregated than those used in ANA
due to lower level of detail available from quarterly data sources.
Estimates of output, intermediate consumption, compensation of employees, wages and
salaries and employment data (numbers of persons and hours worked) are compiled in the
industrial breakdown into 60 activities according to two-digit CZ-NACE classification while
ANA use the breakdown into 128 activities (mixed two-three digit CZ-NACE classification).
For publishing purposes all data are aggregated to the level of 17 activities (sections of the
CZ-NACE classification).
Exports and imports of goods and services are compiled in the breakdown into 60 products
according to two-digit CZ-CPA classification. Moreover, exports and imports of goods are
compiled in the breakdown into 68 products according to two-digit SITC classification.
These breakdowns are used for conversion to previous year’s prices. ANA use breakdown
into 220 products (three-digit CZ-CPA classification).
The breakdown by institutional sector is used for estimates of output, intermediate
consumption, final consumption expenditure, gross capital formation, compensation of
employees, wages and salaries and other taxes/subsidies on production. Breakdown by subsector
is not compiled (with the exception of sub-sectors within the general government
sector).
11
Household final consumption expenditure is compiled in the breakdown into 47 groups
according to the CZ-COICOP classification (ANA use breakdown into 198 sub-classes). For
publication purposes this breakdown is transformed into the breakdown into four types of
durability (durable goods, semi-durable goods, non-durable goods and services).
Gross fixed capital formation is published in the breakdown by type of fixed assets
(dwellings, other buildings and structures, transport equipment, other machinery and
equipment, cultivated assets and intangible fixed assets).
3.2 Balancing, benchmarking and other reconciliation procedures
3.2.1 Quarterly GDP balancing procedure
GDP is compiled independently using two computational methods – the production
approach and the expenditure approach. The income approach is not involved in the
balancing process because gross operating surplus (including mixed income) is derived as a
residual item. Differences between results of both approaches are removed in the balancing
process. No discrepancies are shown in published results (with the exception of chain-linked
series, where discrepancies inevitably result from the method of chain-linking).
Separate balancing is done at current prices and previous year’s prices. The production
approach is considered as more reliable for current prices. Therefore the discrepancies at
current prices are allocated mainly to changes in inventories. On the other hand, deflation of
expenditure components is considered as more reliable than deflation of output and
intermediate consumption. This is why the discrepancies at previous year’s prices are
allocated mainly to intermediate consumption.
Above mentioned balancing process is applied to raw data. Balancing of seasonally adjusted
results is described in chapter 3.4.1.
3.2.2 Benchmarking of QNA and ANA
Benchmarking represents an integral part of the compilation process and is conducted at the
most detailed compilation level. Quarterly figures are benchmarked to corresponding annual
figures mainly using the pro-rata method, i.e. annual values are split according to the
proportions indicated by the four quarterly observations. Ratio of the last available annual
value to the sum of corresponding quarterly values is extrapolated to quarters for which no
annual data are yet available.
Benchmarking of seasonally adjusted results is described in chapter 3.4.1.
In 2004 and 2006 two major (historical) revisions of ANA were completed (for period
1995-2001). Revisions included many methodological changes with the general aim to
improve compliance with the ESA95 standard. Because of unavailability of appropriate
quarterly source data, revisions of QNA were done in a simplified way at more aggregated
level using the proportional Denton method. The general objective of this method is to
preserve as much as possible the short-term movements in the original quarterly data under
the restrictions provided by the annual data. The method can be described as a minimization
of the following formula:
12
under the annual constraints:
y = 1,…,n
where
Xt is the revised (adjusted) quarterly value for quarter t
It is the original quarterly value (indicator) for quarter t
Ay is the annual value for year y
t is time in quarters (t=1,…,T)
T is the last quarter
y is time in years (y=1,…,n)
n is the last year
3.3 Volume estimates
3.3.1 General volume policy
General procedure of volume measures calculation consists of two steps: First figures at
current prices are converted to previous year’s average prices using appropriate price indices.
Figures at previous year’s prices are then chain-linked in order to obtain comparable time
series of volume measures. This approach was introduced in 2004 in annual accounts and
quarterly accounts simultaneously. Before this date, another approach consisting in converting
figures at current prices to constant prices of the chosen base year had been used. Volume
measures calculated using the current methodology are much less biased by gradual out-ofdating
of the chosen base year’s weights.
Calculation of figures at previous year’s prices consists of following steps:
Quarterly base price indices (currently 2005=100) are taken from price statistics.
Annual base price indices are computed as weighted averages of quarterly base price
indices with weights from current prices.
Quarterly price indices to average of the previous year are computed as quarterly base
price indices divided by annual base price indices for the previous year.
Quarterly figures at average prices of the previous year are computed as current prices
divided by quarterly price indices to average of the previous year.
Chain-linking of quarterly figures is performed using the annual overlap technique, i.e. figures
at previous year’s prices are scaled down to the average price level of the chosen reference
year using annual deflators. This technique is used in the majority of member states of the
European Union. It automatically meets the time consistency criterion, i.e. annual sums of
quarterly chain-linked figures are equal to the corresponding directly chain-linked annual
figures. Another advantage of this technique consists in the possibility to make
aggregations/disaggregations of chain-linked time series without any additional data.
∑
= −
−
⎥
⎦
⎤
⎢
⎣
⎡
−
T
t t
t
t
t
I
X
I
X
2
2
1
1
min
y
y
yt
t AX =∑
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34
13
Volume measures are presented in following ways:
Figures at previous year’s prices in CZK million
Chain-linked figures with reference year 2000 in CZK million
Percentage changes in volume calculated with respect to the corresponding quarter of the
previous year
Percentage changes in deflators calculated with respect to the corresponding quarter of the
previous year
Contributions to variation in GDP
As regards seasonally adjusted volume measures, percentage changes are calculated with
respect to the previous quarter.
3.3.2 Chain-linking and benchmarking
Quarterly figures expressed at previous year’s prices are benchmarked to corresponding
annual figures mainly using the pro-rata method. Benchmarking of chain-linked series is not
needed due to the fact that quarterly figures are chain-linked using the annual overlap
technique.
3.3.3 Chain-linking and seasonal adjustment
Seasonal adjustment of volume measures is performed after chain-linking. GDP is adjusted
directly but some aggregates are derived indirectly in terms of previous year’s prices (e.g.
total final consumption expenditure is derived as a sum of final consumption expenditure of
households, general government and NPISHs). Adjusted figures are benchmarked to directly
calculated chain-linked annual figures. Next step consists in conversion of benchmarked
chain-linked series to previous year’s prices. Adjusted figures at previous year’s prices are
then balanced, i.e. consistency between GDP and sums of components is forced.
Discrepancies between GDP and sums of components are either allocated to changes in
inventories (on expenditure side) or distributed among components (on output side). Balanced
GDP components are then chain-linked again in order to obtain final adjusted chain-linked
series. For further details see chapter 3.4.1.
3.4 Seasonal adjustment and working-day correction
3.4.1 Policy for seasonal adjustment
Coverage of adjusted figures
Seasonally adjusted figures are published alongside raw (non-seasonally adjusted) figures.
Folowing tables of ESA95 Transmission Programme are currently adjusted:
Table 0101: Gross value added at basic prices and gross domestic product at market prices
(output and intermediate consumption are adjusted separately in A17 breakdown).
Table 0102: GDP identity from the expenditure side (without breakdown of gross fixed
capital formation).
Table 0103: GDP identity from the income side (incl. wages and salaries).
Concerning first two tables, adjustment is made separately for current prices and volume
measures after chain-linking. Adjusted deflators can be derived implicitly.
14
Method of adjustment
Calculations are made using the Tramo/Seats method. Currently adopted version is from
November 1999 (Tramo) and September 1998 (Seats). From the technical point of view,
software tool Demetra (version 2.04) is utilized for performing this method of adjustment.
Choice between an additive and a multiplicative model is made using appropriate test
criterion available in the method.
Time consistency
According to recommendations of the Task Force on Seasonal Adjustment of QNA,
seasonally adjusted quarterly data should be made consistent to the respective non-seasonally
adjusted annual data for practical reasons by using a benchmarking technique. In the Czech
QNA, this consistency is ensured using the proportional Denton method which is
implemented by an Excel macro. The advantage of this method is that it minimises the impact
on time series properties. The references are either raw annual values when working-day
correction is not made or working-day corrected annual values when working-day correction
is made. Working-day corrected annual values are derived as sums of corresponding workingday
corrected quarterly values.
Accounting consistency
GDP is adjusted directly. Discrepancies between GDP and sums of its components according
to three computation methods (expenditure, output and income) are allocated in a specific
way for each method without affecting GDP1
. On the expenditure side, discrepancies are
allocated to changes in inventories. More complex procedure is applied on the output side.
Discrepancies are allocated to intermediate consumption of all branches using multivariate
version of proportional Denton method. On the income side, discrepancies are allocated to
gross operating surplus and mixed income. In case of output and expenditure method,
accounting consistency is ensured for figures at current prices and figures at previous year’s
prices. Chain-linked volume measures (both in adjusted and unadjusted form) are not
consistent in aggregation.
Revision policy
Revision policy of seasonally adjusted data is different from that applied for raw data. Once a
year, within estimate for 1st
quarter (published in June), whole time series of adjusted data are
revised. Simultaneously new identification of models and estimation of their parameters is
done. At the same time, possible methodological changes may be implemented (e.g. switch to
newer version of the adjustment method). Within estimates for the other quarters, revision of
adjusted data is limited only to periods for which raw data are revised.
3.4.2 Policy for working-day correction
Working-day correction is performed only for following time series for which this effect is
explainable from the economic point of view:
Gross domestic product
Final consumption expenditure of households
1
This practice has been applied since the estimate for 3rd
quarter 2007 (released on 7 Dec 2007). Before this date
balancing process had been performed only for raw data.
15
Exports of goods
Imports of goods
Output and intermediate consumption of NACE C, D, E, F, G, H, I and K
Two aggregates are obtained as residual items (changes in inventories and gross operating
surplus and mixed income) using working-day corrected GDP and possibly its components.
Consequently these aggregates are considered to be working-day corrected as well.
Regression approach with one regression variable is applied (i.e. working days and nonworking
days are distinguished). Working-day correction is based solely on quarterly data
because monthly indicators are not available or manifestly not suitable for this purpose.
Effects of Easter and leap year are not corrected because of implausible results.
Specific calendar for the Czech Republic is used. Due to inclusion of national holidays,
working-day effect contains a significant seasonal component. According to
recommendations of the Task Force on Seasonal Adjustment of QNA, working-day correction
should remove only non-seasonal part of the working-day effect. Therefore the user-defined
regression variable is used which contains differences of the original variable from long-term
average for each quarter.
Chapter 4 GDP components: the production approach
4.1 Gross value added, including industry breakdowns (but excluding FISIM)
Gross value added in the non-financial corporations sector and the households sector
Gross value added (GVA) is calculated as a difference between output at basic prices and
intermediate consumption at purchasers’ prices. The main data source for quarterly estimates
of output and intermediate consumption in the non-financial corporations sector (S.11) and
the households sector (S.14) is represented by the quarterly enterprise survey (see chapter
10, source 1 and annex). Grossed up results are available in the breakdown by industry
according to two-digit CZ-NACE classification. Computations are made separately for S.11
and S.14.
Output is calculated from following indicators:
Sales of own goods
+ Sales of own services
+ Change in in-house inventories of own production
+ Capitalisation
+ Sales of goods for resale
– Costs of goods sold
Intermediate consumption is obtained from the indicator “Production consumption”.
Enterprises with less than 10 employees are not covered by the survey. Their output and
intermediate consumption is estimated using corresponding figures from annual surveys
which are disggregated using quarterly numbers of employees in these enterprises (from
source 18) and development of price indices.
16
Units with less than 20 employees in agriculture, forestry and fishing are not covered even by
annual surveys. Their output and intermediate consumption is estimated using the Economic
Accounts for Agriculture.
Estimates of output and intermediate consumption for a part of subsidized organisations,
which belongs to S.11, are based on profit-and-loss statements which are in aggregated form
available from the Ministry of Finance (see source 23). Computation makes use of similar
indicators as in case of the enterprise survey.
The non-financial corporations sector also includes public television and public radio.
Estimates are based on the quarterly survey of selected government and other institutions (see
source 8).
Gross value added in the financial institutions sector
Quarterly estimates of GVA are made separately for the central bank (Czech National Bank),
banking monetary institutions, non-banking monetary institutions, insurance companies and
pension funds.
Output of the Czech National Bank is computed using the cost method. This means that
personal and social costs, depreciation of tangible and intangible assets and intermediate
consumption are included in the total output. Intermediate consumption is composed of fee
and commission expenses, new currency expenses, purchased services and other operating
expenses. The difference between the total output (based on costs) and fee and commissions
income is added to intermediate consumption of banking monetary institutions. Input data are
taken from the profit and loss account (source 37).
Banking monetary institutions (CZ-NACE 65.12) provide their monthly profit and loss
accounts to the Czech National Bank and the CZSO gets quarterly aggregated figures (source
37). Output is derived from fee and commission income and other operating income. Output
also includes FISIM (see chapter 4.2). Intermediate consumption comprises fee and
commission expenses, other operating expenses, advertising expenses, audit, legal and tax
consultancy expenses, information technology expenses, outsourcing expenses, hire and other
purchased services expenses.
Estimates for non-banking monetary institutions (CZ-NACE 65.2 and CZ-NACE 67) are
based on the quarterly statistical survey. There are two versions of the survey (sources 3 and
4) according to the type of book-keeping. Units that keep the books in accordance with the
chart of accounts for banks (investment companies, funds managed by investment companies,
saving and credit cooperatives, licensed brokers, etc.) provide the questionnaire “Pen 3b-04”
(source 3). Units that keep the books in accordance with the chart of accounts for
entrepreneurs (financial leasing companies, persons registered by the Czech Securities
Commission and brokers) provide the questionnaire “Pen 3c-04” (source 4). Computation of
output and intermediate consumption is similar as in case of banking monetary institutions.
Estimates for insurance companies are based on the quarterly statistical survey “Poj 3a-04”
(source 5). Output of non-life insurance services is equal to gross premiums written reduced
by the change in the provision on unearned premiums, plus the premium supplements, minus
claims paid, gross amount increased by the change in the provision for outstanding claims.
17
Intermediate consumption comprises expenses on material, energy and services, increased by
payments of non-life insurance services, and adjusted by mandatory accident insurance
underpayment revenues (or overflow payments) and by the estimate of reinsurance balance
(based on annual figures).
Non-life insurance services are used for intermediate consumption of all resident sectors, for
household final consumption expenditure and a part of services is exported. The distribution
among institutional sectors is done in proportion to gross premiums written for each sector
(weights are available from annual accounts only). The households´ use of non-life insurance
services is broken down into intermediate and final consumption in proportion of premiums
paid by households in their capacity of consumers on the one hand and tradesmen and owneroccupied
dwellings owners on the other hand to the total amount of premiums paid by the
household sector (also using annual weights).
Output and intermediate consumption of life insurance services is calculated similarly. Life
insurance services are used for household final consumption expenditure.
Pension funds provide the questionnaire “Poj 3b-04” (source 6). Output is equal to pension
contributions received, including contributions from government, plus profit credited to
members of pension insurance, minus expenses on pensions, minus the change in liabilities to
members of pension insurance. Intermediate consumption is calculated similarly as in case of
insurance companies. Pension funds services are used for household final consumption
expenditure.
Gross value added in the general government sector
Quarterly data sources for the general government sector (S.13) are very similar to annual
ones (see sources 7, 8, 9 and 20-30). Quarterly data are taken both from the database of the
Ministry of Finance (budgetary organizations both on central and local level, state funds,
semi-budgetary organizations) and from the statistical surveys (universities, health insurance
companies, etc.). Structural information comes from preceding annual national accounts.
Several government institutions provide their individual quarterly financial statements. Very
important tools represent so-called bridges. They are convertors between indicators used in
financial statements or in budgetary classification on one hand and indicators of national
accounts on the other hand.
Similar data sources for quarterly and annual national accounts enable using similar
procedures in compilation QNA of S.13. The cost method is used for non-market activities.
Output is given as a sum of intermediate consumption and GVA. Quarterly data on
compensation of employees, other taxes on production and other subsidies on production are
available, too. Quarterly consumption of fixed capital structured by sector and subsector, by
industry and type of product is calculated in the same way as one in ANA. As to market
activities, output is given as a sum of special types of revenue, GVA as a difference between
output and intermediate consumption.
Gross value added in the sector of non-profit institutions serving households
The sector of non-profit institutions serving households (NPISHs) is badly covered by
quarterly data sources. However, the share of GVA in this sector on the total GVA and GDP
is almost negligible. Quarterly statistical survey of employees and wages (source 9) provides
18
the basic indicators on labour force. Total wages (including other personal costs) and the
average number of employees in physical persons are utilized for quarterly estimates.
Moreover, the number of employees is provided by the so-called Special Database (source
18). Numbers of employees from this source are considered as more accurate than those from
the statistical survey.
Similar to the general government sector, most of GVA in the sector of NPISHs is generated
by non-market activities. The cost method is used for calculation of output of these activities,
i.e. output is derived as a sum of intermediate consumption and GVA (compensation of
employees, other taxes on production and consumption of fixed capital). Compensation of
employees is estimated using total wages (including other personal costs) from the statistical
survey. Consumption of fixed capital is computed in the same way as for the other sectors
(see chapter 8.2). The other items at current prices are estimated using numbers of employees
from the Special Database. Numbers of employees from the statistical survey are used only
for computation of average wages used for deflation of compensation of employees (see
below).
Conceptual and exhaustiveness adjustments of output and intermediate consumption
Conceptual adjustments are made due to differences between business accounting rules and
national accounting rules. Some adjustments are covered by quarterly data sources:
Holding gains/losses from inventories – quarterly distribution according to development
of producer price indices and external trade price indices.
Inclusion of inward processing – quarterly figures in the breakdown into two-digit NACE
classification are available from external trade statistics.
Non-life insurance services – quarterly total figures from the survey in insurance
companies are distributed among sectors and industries using annual shares.
Natural growth of standing forest – annual figures from the Ministry of Agriculture are
divided into two identical parts and assigned to the 2nd
and the 3rd
quarter.
Recording of military equipment – quarterly administrative data are available from the
Ministry of Defence.
Imputed rent for housing services provided by owner-occupiers to themselves – quarterly
distribution according to development of the price index of new dwellings.
For the rest of conceptual adjustments no quarterly information is available. Therefore their
quarterly pattern is taken from surveyed data on output and intermediate consumption:
Financial leasing repayments (correction)
Wages and salaries in kind
Exclusion of internal turnover
Mark-up factor for operating surplus of own-account production of fixed assets
Value of entertainment, literary and artistic originals
Recording of travel expenses
Adjustments for exhaustiveness are made with the aim to cover transactions that are not
directly observed via regular statistical surveys or administrative sources. Following
adjustments are distinguished:
N1 – Producers deliberately not registering – underground
N2 – Producers deliberately not registering – illegal
N3 – Producers not required to register (informal sector, individual housing construction,
own-account output of agricultural products)
19
N4 – Legal persons not surveyed (updating statistical register)
N5 – Registered entrepreneurs not surveyed
N6 – Producers deliberately misreporting
N7 – Other statistical deficiencies (wages and salaries in kind, tips and gratuities)
Individual housing construction is based on quarterly figures on new dwellings from the
questionnaire “Stav 7-99” (source 12) and development of the price index of new buildings.
Own-account output of agricultural products is derived from the household budget survey.
The rest of adjustments for exhaustiveness is based on the quarterly pattern of surveyed data
or expert estimates are used.
Conversion of output and intermediate consumption to previous year’s prices
Conversion to previous year’s prices (deflation) is performed separately for output and
intermediate consumption, i.e. the double deflation method is used. Deflation of output is
further divided into deflation of market output including output for own final use and
payments for other non-market output (P.11+P.12+P.131) and deflation of free of charge
other non-market output (P.132). Gross value added at previous year’s prices is calculated as
a difference between output and intermediate consumption at previous year’s prices. All
calculations are performed in the breakdown into 60 industries (or 60 products respectively).
Market output including output for own final use and payments for other non-market output
(P.11+P.12+P.131) is deflated in two parts: market output for domestic use and exports. As
input data, total market output according to the NACE classification and exports according to
the CPA classification are available. First of all, exports are transformed from CPA to NACE
using weights from annual export matrix. Market output for domestic use is then obtained as a
difference between total market output and exports and subsequently transformed from NACE
to CPA using weights from annual matrix of market output for domestic use. In the next step
market output for domestic use and exports, both according to CPA, are deflated using
producer price indices and export price indices respectively. Both parts are then transformed
to NACE using weights from appropriate annual matrices and added in order to obtain total
market output (P.11+P.12+P.131) at previous year’s prices.
Free of charge other non-market output (P.132) at previous year’s prices is calculated in a
similar way as at current prices, i.e. as amount of total production costs (intermediate
consumption P.2 + gross value added B.1g) minus market output (P.11), output for own final
use (P.12) and payments for other non-market output (P.131). P.132 is deflated separately for
the general government sector and the non-profit institutions sector. Each item is deflated in a
specific way:
Intermediate consumption – deflators of total intermediate consumption (see below) for
each industry are used.
Compensation of employees – deflation using development of the average wage in each
industry and assumptions about labour productivity growth.
Other taxes on production – total consumer price index is used.
Consumption of fixed capital – the procedure is described in chapter 8.2.
Market output (P.11+P.12+P.131) – producer price indices are used.
Intermediate consumption (P.2) is deflated in two parts: intermediate consumption (IC) of
domestic output and IC of imports. First of all, relevant price indices, i.e. producer price
indices and import price indices are transformed using weights from appropriate annual
20
matrices of IC from the CPA classification to the NACE classification. In the next step IC of
domestic output and IC of imports are deflated by producer price indices and import price
indices respectively. Both parts are then added in order to obtain total IC at previous year’s
prices.
4.2 FISIM
Calculation of FISIM (financial intermediation services indirectly measured) in QNA is
similar as in ANA because the main data sources are available at quarterly frequency.
FISIM is calculated as a difference between interests receivable and payable reduced by
income received from the investment of own funds in financial institutions (S.121, S.122 and
S.123). The total internal FISIM is given by the sum of FISIM from loans and FISIM from
deposits calculated for individual institutional sectors and sub-sectors. Calculation of FISIM
is based on following main items: (1) reference interest rate, (2) average stocks of deposits
and loans and (3) accrual interests split by user sector.
Reference interest rate is calculated as internal (IRR) – for resident sectors and as external
(ERR) – for imports and exports. The “method 1” recommended by Eurostat is used for both
calculations.
Internal reference interest rate (IRR) for resident sectors is calculated by following
formula:
Interest receivable on loans between resident financial institutions (S.122+S.123)
IRR = --------------------------------------------------------------------------------------------------
Stocks of loans between resident financial institutions (S.122+S.123)
For the FISIM calculation and its allocation among domestic user’s sectors, information on
interests and stocks of loans and deposits of user sectors is needed. As to commercial banks
included in S.122, data are gained from monthly banking statistics. For leasing companies
included in S.123, stocks of leasing loans according to user sector are calculated.
In the household sector, it is necessary to divide FISIM on a part that is included into
intermediate consumption (households – entrepreneurs and households – owners of
dwellings) and a part into final consumption (households – consumers).
Banking statistics is used to breakdown into households as consumers and households as
owners of unincorporated enterprises. Data for the calculation of FISIM for households as
owners of dwellings were taken from banking statistics (stocks of mortgage loans). As to
deposits, it is supposed that all amount is attributed to the households as consumers.
In the general government sector and the non-profit institutions sector FISIM is also included
in intermediate consumption, but at the same time in value of non-market output and through
it in the expenditures on final consumption.
External reference interest rate (ERR) is calculated for import and export by following
formula:
Interest receivable and payable between resident FI and non-resident FI
ERR= -----------------------------------------------------------------------------------------
Stocks of loans and deposits between resident FI and non-resident FI
21
For the calculation of exports of FISIM data breakdown between non – resident FIs and non
– resident Non-FIs is required. Export of FISIM is counted as a difference between accrued
interests and average loans granted to non-residents by domestic financial intermediaries
multiplied by ERR and from average deposits stored in domestic financial intermediaries by
non-residents multiplied by ERR and reduced by accrued interests from deposits.
For the calculation of imports of FISIM data breakdown between resident Non-FIs is
required. For this calculation data only for loans and for two sectors (S.12 and S.13) are
available. Import of FISIM is counted as a difference between accrued interests from loans
and average loans granted to residents by non-resident financial intermediaries multiplied by
ERR.
Breakdown of intermediate consumption of FISIM by industry is not available from
quarterly data sources. Therefore annual shares of industries are used for distribution of
corresponding quarterly totals.
For conversion of FISIM to previous year’s prices, two deflators are computed – of output
and of imports. Deflator of output is used also for deflation of household final consumption
expenditure of FISIM and exports of FISIM. Intermediate consumption of FISIM is deflated
using weighted average of both deflators.
Output of FISIM at previous year’s prices is derived in three steps: First the quotient of
output of FISIM at current prices on stocks of loans and deposits, both for the previous year,
is computed. In the next step, the stocks of loans and deposits for the respective quarter are
converted to previous year’s prices using the general price index (the sum of total
intermediate consumption, household final consumption expenditure, gross fixed capital
formation and exports). Finally output of FISIM at previous year’s prices is obtained by
multiplication of the stocks at previous year’s prices by the quotient from the first step.
Deflator of imports of FISIM is calculated in a simplified way using development of the
respective interest rate.
4.3 Taxes less subsidies on products
Taxes on products (D.21)
Ministry of Finance provides quarterly data on taxes on products broken down into following
types of taxes:
Value added tax
Excise duties and consumption taxes on:
wine
alcohol
beer
hydrocarbon fuels and lubricants
tobacco products
Custom duty
Other taxes on products (e.g. real estate transfer tax, fees on permanent change in use of
agricultural and forest lands, admission fee tax, fees for stay at a spa or recreational stay
fee).
22
„Time-shift payment“ method (time-adjustment) is used by the Ministry of Finance for
calculation of accrual taxes which are subsequently used for QNA compilation.
Quarterly pattern of the value added tax (VAT) obtained from the Ministry of Finance is
adjusted with the aim to ensure better correspondence between VAT on the one hand and both
household final consumption expenditure and intermediate consumption on the other hand.
Conversion of VAT from current prices into previous year´s prices is done in two parts:
VAT on household final consumption expenditure at previous year´s prices is quarterly
broken down according to shares of quarterly household final consumption expenditures
on annual household final consumption expenditure (at previous year´s prices).
VAT on intermediate consumption at previous year´s prices is quarterly broken down
according to shares of quarterly intermediate consumption on annual intermediate
consumption (at previous year´s prices).
Quarterly data on consumption taxes, customs duties and other taxes and fees, which are
obtained from the Ministry of Finance, are overtaken without any adjustment.
When converting these taxes and fees from current prices to previous year´s prices, following
price indices are used:
Excise duties and consumption taxes: annual deflators and their extrapolation (separately
according to individual types of excised products).
Customs duties: quarterly price index of total imports of goods.
Other taxes and fees: annual deflators and their extrapolation.
Subsidies on products (D.31)
The basic data sources are represented by administrative data from the Ministry of Finance:
state final account, financial statements of central and local budgetary organizations, financial
statements of central and local semi-budgetary organizations and extra-budgetary funds.
Quarterly data are overtaken without any adjustment.
Subsidies on products are divided into:
Import subsidies (D.311)
Other subsidies on products (D.319)
No import subsidies are provided in the Czech economy.
Other subsidies on products include subsidies:
on agricultural products
on services of transport, culture and private schools,
contributions to semi-budgetary organizations which are allocated to the public nonfinancial
corporations sub-sector (S.11001).
Subsidies on products are assumed as a negative tax on products according to the national
accounts methodology. The total subsidies on products are subtracted when GDP is
calculated.
When converting subsidies on products from current prices to previous year´s prices, no
price indices are available and a substitute calculation is used. It is based on the assumption
that there is a correlation between the level of subsidies on products in the particular industry
23
and the level of output in the corresponding industry. Calculation of subsidies on products at
previous year´s prices in individual quarters is based on calculation of output at previous
year´s prices and on its quarterly development within the respective year.
Chapter 5 GDP components: the expenditure approach
5.1 Household final consumption expenditure
Estimates of the household final consumption expenditure (HFCE) at current prices are based
mainly on the household budget survey (HBS) carried out quarterly (source 16). The
information is available in a split into 46 COICOP groups of expenditure. The data obtained
per capita are multiplied by the current population number.
HFCE on life and non-life insurance services is calculated using results of quarterly
exhaustive surveys in insurance companies and pension funds.
Data on expenditure of household on lotteries and gambling are not available on quarterly
basis and that is why they are estimated. It is possible because the development of this item is
very smooth.
Expenditure on tobacco is estimated using volume projection first. The estimate of the
number of cigarettes smoked is multiplied by the price development taking into account VAT
and excises duty changes. In a similar way, estimates on spirits, beer and wine household
expenditure are prepared.
Imputed rents are calculated separately using annual figures as a benchmark. Quarterly
distribution is estimated according to development of the price index of new dwellings.
Consumption of own-account produced agricultural products is estimated from HBS and
using information on collection of berries and mushrooms by households.
The sum of obtained data is compared with the relevant annual accounts figures if available.
Difference in each of 46 COICOP groups is split into quarters proportionally and extrapolated
to the years where annual national accounts are not available.
Conversion from current prices into previous year’s prices is calculated with the use of price
indexes of corresponding 46 COICOP groups. The result is benchmarked group by group to
the annual accounts. The difference is then proportionally split into quarters. The same
difference is anticipated for the years where annual accounts don’t exist.
5.2 General government final consumption expenditure
Compilation of general government final consumption comes out from the production
approach (see chapter 4), especially from output of non-market services. The substantial
part of general government final consumption is represented by free of charge other nonmarket
output, produced by the government. It is calculated as a difference between the
output of non-market services and special types of revenue from them (market output, output
for own final use and payments for other non-market output sold at economically significant
prices).
24
The data sources for the other part – social transfers in kind – are both administrative
sources and statistical surveys (especially results from the quarterly statistical survey in health
insurance companies).
Figures on individual and collective consumption have not been released as a part of
quarterly estimates of GDP (T+70) yet. They are overtaken after quarterly sector accounts of
the general government sector are released (T+90).
Conversion from current prices to previous year’s prices is realized separately for nonmarket
services (see chapter 4) and for social transfers in kind. Social transfers in kind are
converted to previous year´s prices by means of converted individual types of products (main
items are as follows: medicaments – separately produced in the Czech Republic and imported
ones, medical instruments, transport, health services).
5.3 Final consumption expenditure of non-profit institutions serving households
Final consumption expenditure of non-profit institutions serving households (NPISHs) is
equal to the value of goods and services produced by NPISHs and provided to households free
of charge (P.132 – free of charge other non-market output), both at current prices and
previous year’s prices. Calculation of P.132 is described in chapter 4.1. No social benefits in
kind (D.631) are assigned to the sector of NPISHs.
5.4.a Gross fixed capital formation
Gross fixed capital formation (GFCF) is estimated separately for individual institutional
sectors according to six types of assets. GFCF is given as a difference between acquisition
and disposal of fixed assets.
Quarterly estimates of GFCF are based mainly on quarterly statistical surveys in business
units, entrepreneurs, financial institutions, insurance companies, pension funds, health
insurance companies and selected government and other institutions (sources 1-8). A part of
input data is taken from administrative sources, particularly from expenditures and revenues
of central and local budgetary organisations (source 20) and accounting statements of semibudgetary
organisations (source 23). Surveys and administrative sources are complemented
by information on individual housing construction by households and building permits
(source 11).
Estimates for small enterprises (with 0-9 employees), that are not included in surveys, are
performed by extrapolating annual accounts figures by changes in appropriate indicators for
medium sized enterprises, by changes in the number of employees for small enterprises and
by changes in investment price indices. Estimates for non-profit institutions are performed by
extrapolating annual accounts figures by changes in the number of employees in the sector of
non-profit institutions.
Input data are mostly obtained at the level of Pi6. From 2007, version “b” of the
questionnaire “P3-04” (source 1) for enterprises with 10-49 employees does not include
breakdown of acquisitions and disposals of fixed assets by type of asset. Moreover,
breakdown of buildings and structures is not divided into dwellings and other buildings and
25
structures in most of quarterly enterprise surveys. Calculation of missing quarterly breakdown
into Pi6 classification is made using available breakdown for big enterprises.
Following adjustments are made to the surveyed data:
Correction resulting from discrepancies between quarterly and annual data sources (and its
extrapolation for the current year)
Quarterly not surveyed indicators (statistically not recorded investment activity of
developers, major improvements to non-produced non-financial assets, costs of ownership
transfer, mineral exploration, entertainment, literary or artistic originals, military
equipment)
Adjustment of seasonal patterns (commodity-flow approach)
Application of the commodity-flow approach
Quarterly estimates of GFCF are based mainly on quarterly statistical surveys. Seasonal
patterns of obtained figures are not coherent with corresponding patterns of output and
imports of relevant commodities. The differences in seasonal patterns are probably caused by
systematic time shifts in recording of accounting cases in the course of the year (especially in
case of machinery and equipment). Originally this incoherence was removed in the balancing
process by decreasing the 4th
quarter and increasing the 1st
quarter for each year by the same
amount.
It was supposed that better estimates would be achieved by application of the commodityflow
approach. This method was tested and consequently applied to the whole time series
from 1995. Results were published in June 2006. The procedure is briefly described in the
following paragraph.
Annual supply and use tables provide information about the breakdown of GFCF at basic
prices into the part from domestic output and the part from imports, both in the breakdown
into two-digit CPA. In the first step, proportions of domestic GFCF to total output (without
exports, output of non-market services and FISIM) and proportions of imported GFCF to total
imports (without imports for inward processing) are computed. Annual proportions are
consequently applied to corresponding quarterly figures of output and imports. Differences
between GFCF at purchasers’ prices and GFCF at basic prices are allocated to quarters using
sums of domestic and imported GFCF. All computations are done in the breakdown into twodigit
CPA and then transformed to Pi6 classification. Quarterly distribution obtained for CPA
45 is applied for disaggregation of annual figures of both GFCF in dwellings and GFCF in
other buildings and structures. The commodity-flow approach is applied for data of all years
for which annual supply and use tables are available. Estimates for the current year are made
using year-on-year indices computed from appropriate quarterly data sources.
Conversion to previous year’s prices
Deflation is made using investment price indices at the level of Pi6, which are constructed
from producer price indices and import price indices, both weighted by structure of GFCF
into domestic and imported parts for each commodity.
26
5.4.b Changes in inventories and acquisition less disposal of valuables
The basic data source is represented by the quarterly survey (the questionnaire “P6-04”,
source 1) which is conducted in 2000 corporations with the highest amount of non-financial
assets in the Czech economy. Inventories at current prices are available according to type: raw
materials, work-in-progress, finished goods and goods for resale. The calculation of changes
in inventories is based mainly on a difference between closing stocks in two successive
quarters divided by 60 groups according to the two-digit NACE classification.
Holding gains/losses are calculated separately using appropriate price indexes (PPI, CPI,
export and import prices) for each group for the economy as a whole. Then proportional split
into institutional sectors is carried out.
As the relevant data sources on revaluation and other volume changes are not available, the
sum of quarters is directly benchmarked to the annual change in inventories according to type
of inventories. Then the difference is split proportionally into quarters.
As the information on inventories on quarterly basis is rather poor, the changes in inventories
are used as a balancing item as well.
Conversion into previous year’s prices is carried out using price indexes similar to those
introduced earlier in the item “Holding gains/losses”. It is done for each type of inventories
separately. No succeeding adjustment takes place.
For quarterly estimates of acquisition less disposal of valuables, no information is available.
Therefore annual figures at current prices are disaggregated using the Boot-Feibes-Lisman
(BFL) method. Conversion to previous year’s prices is done using the producer price index
for CPA 92 – Recreational, cultural and sporting services.
5.5 Exports and imports of goods and services
Exports and imports of goods
Primary data on external trade in goods are obtained by means of Intrastat and Extrastat
systems (see source 17) in custom offices and then transmitted to the External Trade Statistics
Department of the CZSO. Monthly results broken down into two-digit SITC and two-digit
CPA classification are overtaken for quarterly national accounts compilation.
Exports of goods are valued f.o.b. (free on board) at the customs border of the exporting
country. This value consists of the value of the goods at basic prices and the related transport
and distributive services up to the point of the border, including the cost of loading onto a
carrier for onward transportation.
Imports of goods are valued at c.i.f. price (cost-insurance-freight). The c.i.f. price is the price
of the goods delivered at the frontier of the importing country before including any import
duties or other taxes on imports or trade and transport costs within the importing country.
27
Conversion from current prices to previous year´s prices is realized by means of export
and import price indices at the level of two-digit SITC which are constructed at the Price
Statistics Department of the CZSO.
Exports and imports of services
Data sources for compilation of revenues or expenses for exported or imported services are
represented by results of the quarterly statistical survey which is conducted by the External
Trade Statistics Department by means of the “ZO 1-04” questionnaire. The Czech National
Bank (CNB) provides arranged data on services concerning organized and individual tourism,
insurance and financial services. Data on services are obtained at the level of three-digit
EBOPS classification (Extended Balance of Payments Services Classification).
Exports of services are adjusted by:
FISIM (data source: CNB),
Payments for highway-fees (vignettes) paid by non-resident households – consumers in
the Czech Republic (data source: estimates of the CZSO expert),
25% of custom duties which are collected from imports of goods from the “third”
countries and paid into EU; it is a commission and a settlement of costs connected with
custom duties collection (data source: Ministry of Finance),
25% of sugar production levy; it is a commission and a settlement of costs connected with
sugar production levy collection (levies are prescribed for EU member states within
common sugar market organisation); (data source: State Agricultural Intervention Fund).
Imports of services are adjusted by:
FISIM (data source: CNB),
Payments for highway-fees (vignettes) paid by resident households – consumers abroad
(data source: estimates of the CZSO expert).
Price indices for conversion of exports and imports of services from current prices to
previous year’s prices are not available. That is why service items are reclassified into
groups at the level of two-digit CPA classification according to convertor between service
classification and CPA. Then, data on individual groups of services are converted by means
of corresponding price indices of CPA.
Chapter 6 GDP components: the income approach
6.1 Compensation of employees
Compensation of employees (D.1) is defined as the total remuneration in cash or in kind,
payable by an employer to an employee, in return for work done during the accounting period.
Compensation of employees has two components:
Wages and salaries payable in cash or in kind
Employers’ social contributions
Compilation of compensation of employees is structured into following components:
Wages and salaries in cash (quarterly employees and wages surveys, exhaustiveness
adjustments, regular deviation of quarterly data from annual surveys)
Wages and salaries in kind and tips
28
Employers' actual social contributions (D.121)
Imputed social contributions (D.122)
Compensation of employees has three breakdowns:
By component
By kind of activity (two-digit NACE classification)
By institutional sector (which is divided into market and non-market production
furthermore)
This itemization is related to ANA and facilitates partial estimation.
The quarterly data for wages and salaries are sourced from the section “Employees and
wages” (i.e. section relating to labour) of statistical questionnaires (sources 1-8) and from
administrative data sources provided mostly by the Ministry of Finance (sources 20-30).
Wages and salaries (D.11) are incomes of individuals from employment and emoluments. In
the Czech national accounts, they are recorded as gross amounts, i.e. before deduction of
statutory contributions of employees to social and health insurance, taxes and deductions
agreed with the employee.
Wages and salaries in kind are bonuses for work done paid out in the form of goods and
services or other benefits. Quarterly wages and salaries in kind are derived from
corresponding annual estimates.
The value of wages and salaries is adjusted by the estimation of wages and salaries
deliberately not reported, which are connected with illicit employment or payment of part of
wages outside official accounting. This estimation is made on the basis of annual data for
small and medium-sized non-financial enterprises and for entrepreneurs – natural persons.
Wages and salaries estimated in the way mentioned above are analysed for each (sub)sector
and industry in relation to number of employees and social contributions. Last but not least,
time series of wages and salaries are analysed.
Employers' actual social contributions (D.121) are estimated at the level of 33 % of
surveyed gross wages. The percentage was set down with regard to volume of annual
employers' social contributions. The procedure of estimating employers’ social contributions
is facilitated by the existence of relatively reliable data on cash basis from the recipients of
actual social contributions, which are government institutions and insurance companies.
Valuation of employers’ contributions to social and health insurance from the side of
recipients which is cash based has to be accrually adjusted. Such adjustment is prepared in the
QNA department. It is based on the time adjusted monthly data on social and health insurance
payments. The data are adjusted to correspond to the period when the work was done. First
quarter estimation of accrually based contributions for year T is the sum of data for 3 months
starting with February. Fourth quarter estimation of accrually based contributions for year T is
the sum of data for 3 months starting with November of the reference year T and ending with
January of T+1 year.
Imputed social contributions (D.122) are derived using annual ratios of imputed social
contributions to wages and salaries in the breakdown by sector.
29
6.2 Taxes less subsidies on production
Taxes and subsidies on production are compiled in the breakdown into taxes and subsidies on
products and other taxes and subsidies on production. Sources and methods used for quarterly
estimates of taxes and subsidies on products are described in chapter 4.3. Other taxes and
subsidies on production are described below.
Other taxes on production
The procedure used to estimate other taxes on production in QNA is very similar to that used
in ANA. The main data sources are available at quarterly frequency. Input data on other taxes
on production are available from the side of recipients, i.e. from financial statements of
central and local government (source 20). Some items are adjusted on accrual level with the
help of the time-advance method. This adjustment is made by the Ministry of Finance.
Following taxes and fees are included in other taxes on production:
Road tax
Use of motorways and express roads fee
Real estate tax
Environment pollution fee and use of natural resources fee
Wastewater charges and emission fees
Waste deposition fees
Fees on change in use of agricultural land and fees on change in use of forest land
Municipal waste liquidation fees
Fees on registration and accounting of packaging
Administrative fees
Levies on wine-growers to the Vine-grower Fund
Other subsidies on production
Data sources used for quarterly estimates of other subsidies on production are also similar to
those used in ANA. Input data on other subsidies on production are available from the side of
payers. No adjustment on accrual level is made because recipients are not entitled by
regulations to drawing of these subsidies and no obligation arises for general government.
Therefore data on payments are considered as accrual-based.
Most of other subsidies on production is provided by following organisations:
Budgetary organisations (source 20)
General Treasury Management (source 20)
District offices (source 20)
National Fund (source 20)
National Property Fund (source 28)
State Environmental Fund (source 22)
State Fund of Culture (source 22)
State Transport Infrastructure Fund (source 22)
State Agricultural and Intervention Fund (source 22)
Farming and Forestry Support and Guarantee Fund (source 26)
30
6.3 Gross operating surplus & mixed income
No direct quarterly data sources are available for gross operating surplus & mixed income.
Therefore this variable is derived as a residual item by subtraction of compensation of
employees and net taxes on production from GDP.
Chapter 7 Population and employment
7.1 Population
Figures on population are taken from demographic statistics. At first the monthly mid-period
population is calculated as an average of the number of inhabitants on the first and last days of
the month. In the next step, quarterly averages of the relevant monthly mid-period population
are computed.
Unemployment figures are taken from the labour force survey (see source 19).
Transition of employment data from domestic concept to national concept is made by adding
numbers of residents working abroad and subtracting numbers of non-residents working in the
Czech Republic.
Quantification of the number of residents working abroad
Quantification is based on the labour force survey that separately identifies workers by
country of employment. Workers who commute across the border daily or monthly or who are
abroad for less than three months are included. It is possible that workers abroad for more
than one year are also included (several repeated less than one year sojourns), but these cases
can’t be distinguished. Data on the number of residents who work as members of diplomatic
missions, institutions of the EU and international organisations are provided by the Ministry
of Foreign Affairs. No Czech nationals are employed as members of the armed forces or as
military staff at international organisations abroad. There are no foreign military bases in the
Czech Republic, which could employ Czech residents.
Illegal work is assumed to consist of casual work and second jobs. The number of illegally
employed residents abroad is based on information from labour offices, as the labour force
survey is incomplete. Illegal workers account for 2 % of the legally employed residents in EU
countries, 20 % in the USA and 10 % in other countries.
Quantification of the number of non-residents working in the Czech Republic
Numbers of non-resident workers in the Czech Republic are provided by the Czech Ministry
of Labour and Social Affairs, based on the number of work permits issued. Data are available
by individual country and by kind of permit (seasonal workers who stay in the Czech
Republic for less than one year, cross-border workers, short-term attachment workers,
students etc.). Data on the number of registered Slovak workers, who do not require work
permits, are also provided. Estimates of illegal workers are based on the number of residence
prohibitions and expatriations from the Czech Republic. The Czech Ministry of Foreign
Affairs provides information about the number of non-residents employed by the embassies of
the Czech Republic.
31
7.2 Employment: persons
Published figures refer to numbers of persons with the main job, the main job being either the
only job of a person or, if a person is a multiple-job holder, a job in which such a person
worked most hours. All calculations are performed in the industrial breakdown into two-digit
NACE classification. Averages of quarterly figures for the particular year have to be equal to
the corresponding annual figures, when ANA are available. Adjustments are made to reach
these constraints. Employment data on numbers of persons comprise numbers of employees
and self-employed.
Numbers of employees
Quarterly figures are based on the so-called “Special Database” (register of the Czech Social
Security Administration adjusted according to the data from statistical questionnaires and
other registers, see source 18). Numbers of employees with the main job are derived from
numbers of jobs, which also include second jobs, by applying correction coefficients for
employees. The coefficients are defined as ratios of the numbers of employees with the main
job and the total numbers of jobs. Computation of the coefficients is possible only at annual
frequency. Therefore the coefficient for the particular year and industry is used for all
corresponding quarters (for quarters of the year for which ANA have not been compiled yet,
data from the latest ANA are used). Trends of obtained quarterly figures are checked with
trends of quarterly business statistics and the labour force survey. Adjustments are made to
reach the best compatibility with the other data sources.
Numbers of self-employed
The self-employed with the main job include all employing natural persons (i.e. the
entrepreneurs with at least one employee), entrepreneurs without employees and unpaid
family workers who work for the enterprise of their family member regularly and their work
is their main job. Quarterly figures are based on the labour force survey (see source 19).
Numbers of self-employed are derived from numbers of all jobs (main + second) reduced by
correction coefficients for self-employed (ratios of the numbers of self-employed with the
main job and the total numbers of jobs of self-employed). Similar to the coefficients for
employees, the coefficients for self-employed are also taken over from ANA.
7.3 Employment: total hours worked
Quarterly figures on hours worked are based on the labour force survey (see source 19).
Average numbers of hours worked per quarter and per person are available from the survey in
the breakdown into NACE sections (17 industries). Input data are available for main and
second jobs. The hours for sickness leaves, holidays, annual leaves, etc. are not included. The
numbers of employees and self-employed persons as full time equivalents are multiplied by
the average hours worked per quarter and per person. Computations are made separately for
employees and self-employed in the breakdown into NACE sections.
32
Chapter 8 From GDP to net lending/borrowing
This chapter describes the transition from gross domestic product (GDP) to net lending/
borrowing. This transition is practised through data on primary incomes, current transfers and
capital transfers between residents and non-residents.
The principal source of data is represented by the balance of payments (source 40). The Czech
National Bank (CNB) is responsible for compiling the balance of payments of the Czech
Republic and the CZSO uses the data in the compilation of the transition. The CNB, on the
other hand, takes data from the CZSO on the trade balance, compensation of employees and
some other transfers in its compilation of the balance of payments. Every year, managerial
employees from both institutions meet to discuss problems of common interest, which makes
it possible to reduce the burden on respondents and ensure the consistency of data.
8.1 Primary income from/to the ROW, gross national income
Compensation of employees (D.1)
Payments to and from the rest of the world relate to non-resident employees of resident
employers and to resident employees of non-resident employers.
Foreign administrative sources and indirect methods of calculation are used for calculation of
compensations of residents of the Czech Republic employed abroad. These data are compiled
by the CZSO and then used in the balance of payments. Quantification of the number of
residents working abroad is based on quarterly data from the Labour Force Survey that
separately identifies workers by country of employment. Data on the number of residents who
work as members of diplomatic missions, institutions of the EU and international
organisations are provided by the Ministry of Foreign Affairs. The average wage is calculated
on the basis of data on average employee wages in the national accounts (D.11) of those
countries in which Czech residents are employed.
Compensation of non-resident employees is a part of total compensation of employees
included in statistical surveys. It is not separately identified, but indirect methods of
calculation are used for its estimation. These data are then used in balance of payments.
Numbers of non-resident workers in the Czech Republic are provided by the Ministry of
Labour and Social Affairs, based on the number of work permits issued. The average gross
monthly wage is the proportion of wages excluding other personnel expenses per employee
(natural persons) per month.
Taxes and subsidies on production and imports (D.2, D.3)
Data on taxes are taken from the CNB. As regards subsidies, detailed information on flows is
available from the NF (National Fund), from the State Agricultural Intervention Fund (SAIF,
which allocates agriculture transfers from the EU) and from other ministries. This information
allows to estimate the sector of beneficiaries.
33
Property income (D.4)
These data are obtained from the CNB in the form of detailed breakdown of the income
balance (part of the balance of payments). The income balance is used as the prime source of
data for interest (D.41), distributed income of corporations (D.42) and reinvested earnings on
foreign direct investment (D.43). Property income attributed to insurance policy holders
(D.44) corresponds to the total income received from investment of insurance technical
reserves. It is added to property income (D.4) on the resource side. The basis for the
proportional distribution into sectors is taken from the quarterly questionnaire “Poj 3a-04“,
section “Gross premiums written and claims paid broken down by sector“.
Gross national income is derived as the sum of gross domestic product and the balance of
net primary incomes of residents. The balance of net primary incomes of residents in relation
to the rest of the world is calculated as the difference between compensation of employees
received and paid, net taxes on production and imports and net property incomes.
8.2 Consumption of fixed capital, net national income, acq. less disp. of non-financial
non-produced assets
Consumption of fixed capital (CFC) is estimated separately for individual institutional
sectors and for all industries at the level of two-digit NACE classification. The data are
derived from CFC of the previous quarter and quarterly gross fixed capital formation.
The principle of CFC calculation is the same for all sectors and industries. CFC is estimated
according to the following equations:
t t a
a
CFC CFC
sec
,
sec
= ∑
=1
6
t a t a t t
a
a t aCFC CFC Ip q,
sec
,
sec
/
sec
,
sec
= × × +− −1 1 ∆
CFC……...Consumption of fixed capital,
Ip…………Price index (produced by the CZSO),
q………….Coefficient of retirement (<1.00),
∆………….Increase of CFC owing to gross fixed capital formation,
sec………..Institutional sector,
t…………..Time period (quarter),
a………….Type of asset (six types).
It means that quarterly CFC respects the value of CFC in the previous quarter, quarter-onquarter
change of the price index of the particular asset, discards of assets and increases from
gross fixed capital formation.
Annual coefficients of retirement (Q) are derived from annual year-on-year change of CFC at
constant prices for nine types of assets in each institutional sector. They describe the decrease
in value of CFC due to the retirements. Quarterly coefficients (q) are obtained from annual
coefficients (Q) according to the following equation:
a aq Q
sec sec
= 4
34
Increase of CFC (∆) is obtained by dividing quarterly gross fixed capital formation by service
lives of the particular type of asset expressed in quarters. Gross fixed capital formation is
estimated in the breakdown by industry only for this purpose.
Service lives Years
AN.1111 Dwellings 85
AN.1112 Buildings and structures 54
AN.11131 Transport equipment 12
AN.11132 Other machinery and equipment 14
AN.1114 Cultivated assets 11
AN.112 Intangible assets 4
Deflation of CFC in dwellings, buildings and structures, transport equipment and other
machinery is made using investment price indices at the appropriate level. For cultivated and
intangible assets CPI indices are used.
Net national income is calculated by subtraction of consumption of fixed capital from gross
national income.
Quarterly data for acquisition less disposal of non-financial non-produced assets (K.2) are
overtaken from the balance of payments.
8.3 Current transfers from/to the ROW, net national disposable income
Current taxes on income and wealth (D.5)
Current taxes on income (D.51) consist of revenue taxes. These data are compiled by the
CZSO and then used by the CNB. The social and tax system of particular country where an
employee works is respected in the calculation process as well as the percentage income
range. Numbers of non-resident employees and resident employees are taken from the Labour
Force Survey and the Ministry of Labour and Social Affairs.
Social contributions and benefits (D.6)
These data are compiled by the CZSO and then used by the CNB. The social and tax system
of particular country where an employee works is respected as well as the percentage rate of
contribution. Numbers of non-resident employees and resident employees are taken from the
Labour Force Survey and the Ministry of Labour and Social Affairs.
Other current transfers (D.7)
Data source for net non-life insurance premiums (D.71) and non-life insurance claims is
represented by the quarterly questionnaire “Poj 3a-04“. Current international cooperation
(D.74) consists of transfers between non-resident and resident government institutional units.
Data are compiled by the CZSO. Miscellaneous current transfers (D.75) are taken from the
CNB.
Net national disposable income is derived as the sum of net national income and the balance
of net current transfers of residents.
35
8.4 Adjustment for the change in net equity, net saving
Adjustment for the change in net equity (D.8) contains only zero values. Net saving is
calculated by subtraction of final consumption expenditure from net national disposable
income.
8.5 Capital transfers, net lending/borrowing
Capital transfers (D.9) concern about purchasing or turn over of assets. Capital taxes (D.91)
are estimated by the CZSO likewise other capital transfers. Investments grants (D.92) are
compiled using detailed information from the National Fund, the State Agricultural
Intervention Fund and other ministries.
Net lending/borrowing is derived from net saving by adding net capital transfers and
subtracting gross capital formation and acquisition less disposal of non-financial nonproduced
assets.
Chapter 9 Flash estimates
Flash estimates represent the earliest picture of the economy according to national accounts
concepts. The methodology of flash estimates in the Czech Republic was investigated within
the project financed by Eurostat in 2005 and 2006. The main result of the project consisted in
the reform of quarterly enterprise surveys which enabled their utilization for flash estimates.
The first official flash estimate was compiled for 4th
quarter 2007 and released on 15 February
2008 under the name “GDP preliminary estimate”. From 1st
quarter 2008, flash estimates will
be regularly published approximately 45 days after the end of the reference quarter.
9.1 Flash GDP estimates
In general flash estimates of GDP are compiled using the same methodology as regular
estimates. Only the production approach and the expenditure approach are involved in the
calculation. Most aggregates are based on preliminary processings of respective data sources.
In some cases it is necessary to use alternative data sources which are not employed for
compilation of regular estimates. Scope of flash estimates is limited to volume indices of
GDP. Press releases include year-on-year indices from raw and seasonally adjusted figures
and quarter-on-quarter indices from seasonally adjusted figures.
Sources and methods for the GDP production approach:
Gross value added (GVA) in the non-financial corporations sector and the household
sector is based on preliminary processing of quarterly enterprise surveys.
Similar approach is used for GVA in the financial institutions sector, with the exception
of FISIM which is estimated using development of interest rates.
Estimation of GVA in the general government sector is complicated due to insufficient
timeliness of some data sources. The main source represented by financial statements of
budgetary organisations is missing in some quarters. In such cases estimates from the state
budget current performance (source 33) are used instead.
GVA in the non-profit institutions sector is computed in the same way as in case of
regular estimates.
36
Taxes on products are available in time of the flash estimate compilation. Subsidies on
products are estimated using time series analysis.
Sources and methods for the GDP expenditure approach:
Because household budget survey is not sufficiently timely for estimates of household
final consumption expenditure, another approach based on sales in retail trade and other
services is used.
The major part of final consumption expenditure of general government represented by
free of charge other non-market output is derived from the production side of GDP. Social
transfers in kind are based on preliminary processing of the quarterly survey in health
insurance companies.
Final consumption expenditure of non-profit institutions is computed in the same way
as in case of regular estimates.
Gross fixed capital formation is based mainly on preliminary processing of quarterly
enterprise surveys.
Because no information on changes in inventories is available, they are derived as the
balancing item.
Preliminary processing of Intrastat and Extrastat statistics is used for exports and
imports of goods.
Exports and imports of services are based on monthly balance of payments which is less
structured than quarterly balance utilized for regular estimates.
9.2 Flash employment estimates
Scope of flash employment estimates is limited to development of total employment
according to the domestic concept (numbers of residents and non-residents working in
resident producer units). Press releases include year-on-year indices from raw and seasonally
adjusted figures and quarter-on-quarter indices from seasonally adjusted figures.
Methodology of flash estimates is the same as in case of regular estimates (see chapter 7.2).
Preliminary processings of the so-called “Special Database” and the labour force survey are
utilized.
37
Chapter 10 Main data sources used
The main data sources used for QNA in the Czech Republic are listed in the following table:
No Name of the data source Prod.1
Exp.2
Inc.3
Other4
1 Business units and entrepreneurs – quarterly statistical survey*
X X X
2 Banking monetary institutions – quarterly statistical survey*
X X
3 Non–banking monetary institutions – quarterly statistical survey*
X X X
4 Other financial institutions – quarterly statistical survey*
X X X
5 Insurance companies – quarterly statistical survey*
X X X
6 Pension funds – quarterly statistical survey*
X X X
7 Health insurance companies – quarterly statistical survey*
X X X
8 Selected government and other institutions – quarterly stat. survey*
X X X
9 Quarterly statistical survey of employees and wages*
X X X
10 Monthly statistical survey in services*
X
11 Monthly statistical survey of building permissions*
X
12 Statistical survey of completed houses X X
13 Consumer price indices*
X
14 Producer price indices*
X X
15 Export and import price indices*
X X
16 Household budget survey X
17 Custom statistics / declarations*
X X
18 Special Database*
X X X X
19 Labour force sample survey*
X X X X
20 Budgetary organizations – expenditures and revenues*
X X X
21 Budgetary organizations – financial statements X X X
22 State extra–budgetary funds – expenditures and revenues X X X
23 Semi–budgetary organizations – financial statements*
X X X
24 Czech Consolidation Agency – financial statements X X X
25 Czech Collection Ltd. and subsidiaries of CKA – financial statements X X X
26 PGRLF – financial statements X X X
27 Vine–grower fund – financial statements X X X
28 Other extra–budgetary funds – financial statements X X X
29 Railway Infrastructure Administration – financial statements X X X
30 PPP centre – financial statements X X X
31 Secondary distribution of health insurance contributions X
32 Health insurance companies – financial statements X X
33 State budget current performance*
X X
34 Accounting report of the CSSA X
35 Balance of revenues and expenditures of the CSSA X
36 Employment of foreigners X X
37 Monetary institutions – financial statements*
X
38 Interests – quarterly survey X X
39 Loans and deposits X X
40 Balance of payments X X X
1
The data source is used for the production approach to GDP.
2
The data source is used for the expenditure approach to GDP.
3
The data source is used for the income approach to GDP.
4
The data source is used in other parts of QNA (employment, transition from GDP to net lending/borrowing).
*
Timeliness of the data source is sufficient for flash estimates (always or in most quarters) and the data source is
actually used for their compilation.
38
Source 1: Quarterly statistical survey in business units and entrepreneurs
Quarterly statistical survey in business units and entrepreneurs represents the main data
source for quarterly GDP estimates. Results from the survey are used for estimates of output,
intermediate consumption, gross fixed capital formation, changes in inventories and wages
and salaries. The survey was developed in co-operation with Institut National de la Statistique
and Etudes Economiques, France. Comparable time series exist from 1st
quarter 1997.
Enterprises in the non-financial corporations sector and the households sector are covered
by the survey. All branches of the economy are surveyed except for financial intermediation.
The set of respondents consists of legal and natural persons filed with commercial courts and
some important natural persons not filed with commercial courts. Selected units are obliged to
fill in the appropriate questionnaire.
Questionnaires are collected both in electronic and in paper form from respondents. The data
processing includes automated interactive and batch checks made according to preset logic
tests. According to their nature, the tests are split into errors, anomalies, non-responses and
informations. Based on the tests, a questionnaire quality code is calculated. The code permits
the processor to pay attention to more serious corrections. When an error or anomaly is
revealed, the processor contacts the enterprise concerned and then corrects the data according
to the enterprise’s communication or confirms the anomaly.
Grossing up is made by the re-weighting method. Administrative data on policy holders of
social insurance (obtained from the Czech Social Security Administration) are used for
grossing up as well as for updating the sampling frame. Non-response rate is about 15%.
Simultaneously with processing of the last quarter, previous quarters of the current year are
revised. Further revisions are made after processing of annual surveys, dealing mainly with
proper settings of principal activities.
Up to the end of 2006, there were two size versions of the survey for different size classes and
principal activity to reduce response burden as follows:
version “c”, “d” for enterprises with 100 and more employees;
version “b”, “bd” for enterprises with 20-99 employees.
Versions “c” and “d” included more indicators than versions “b” and “bd”. Versions “d”, resp.
“bd” were addressed to units in mining, manufacturing and energy. In comparison with
versions “c”, resp. “b”, indicators on manually working employees were added to.
Significant changes have been implemented in 2007 with the aim to improve timeliness and
coverage of the results. The survey was split into two parts:
The first part (with the abbreviated name “P3-04”) covering the main indicators: labour
indicators, flow financial indicators and increases and decreases of intangible and tangible
fixed assets. The set of respondents was extended by enterprises with 10-19 employees.
Respondents are asked to send questionnaires up to 18 days after the end of the quarter.
Reduction of required indicators enabled to shorten processing time. The first results are
available around 35 days after the end of the quarter. In 2007 the set of respondents comprised
around 15 000 units. There are two versions of the survey “P3-04” according to the number of
employees:
version “c” for enterprises with 50 and more employees.
version “b” for enterprises with 10-49 employees.
39
The second part (with the abbreviated name “P6-04”) comprising stock financial indicators,
which are necessary for compilation of quarterly financial accounts. Regular estimates of
GDP take advantage of this part as well because stocks of inventories are included here. Only
enterprises with 250 and more employees (and selected smaller enterprises with significant
amounts of assets) have to fill in this questionnaire. Respondents are asked to send
questionnaires up to 30 days after the end of the quarter (up to 35 days for 4th
quarter). In
2007 the set of respondents comprised around 2 200 units.
Name of survey: Business units and entrepreneurs – quarterly
statistical survey
Questionnaires: P3-04, P6-04
Periodicity: Quarterly
Time of availability of results: Questionnaire P3-04:
First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Questionnaire P6-04:
First results – 60 days after the end of the survey
period
Main variables used in QNA: Questionnaire P3-04:
– Labour indicators (number of employees, wages
and salaries, other personal costs, hours worked)
– Production, costs and book value added (sales
of goods for resale, sales of own goods, sales of
own services, change in in-house inventories,
capitalisation, costs of goods sold, production
consumption)
– Acquisition and disposal of intangible and
tangible fixed assets (total values, version “c” is
extended by breakdown of acquisition and
disposal by type of asset)
Questionnaire P6-04:
– Stocks of inventories (raw material, work-inprogress,
finished goods, goods for resale)
Further adjustments made to the survey data: Transition from business accounting to the
national accounts concepts.
Source 2: Quarterly statistical survey in banking monetary institutions
This survey is a supplementary source for the compilation of quarterly national accounts for
monetary institutions. Banking monetary institutions (CZ-NACE 651) use accounting rules
for banks and other financial institutions.
Name of survey: Banking monetary institutions – quarterly
statistical survey
Questionnaire: Pen 3a-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Labour indicators (number of employees, wages
and salaries, other personal costs, hours worked)
– Acquisition and disposal of intangible and
tangible fixed assets
Further adjustments made to the survey data: If necessary, discrepancies and inconsistencies
are checked and corrected.
40
Source 3: Quarterly statistical survey in non-banking monetary institutions
This survey covers all businesses with principal activity in CZ-NACE 652 (Other financial
intermediation) and CZ-NACE 67 (Activities auxiliary to financial intermediation) that keep
the books in accordance with the chart of accounts for banks. They mostly include investment
companies, funds managed by the investment companies, saving and credit cooperatives and
licensed brokers (S.123 and S.124).
Name of survey: Non-banking monetary institutions – quarterly
statistical survey
Questionnaire: Pen 3b-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Labour indicators (number of employees, wages
and salaries, other personal costs, hours worked)
– Revenues and expenses
– Acquisition and disposal of intangible and
tangible fixed assets
Further adjustments made to the survey data: The data are modified in order to comply with
national accounts concepts.
Source 4: Quarterly statistical survey in other financial institutions
This survey covers all businesses with principal activity in CZ-NACE 652 (Other financial
intermediation) and CZ-NACE 67 (Activities auxiliary to financial intermediation) that keep
the books in accordance with the chart of accounts for entrepreneurs. They include financial
leasing companies, persons registered by the Czech Securities Commission and brokers.
Name of survey: Other financial institutions – quarterly statistical
survey
Questionnaire: Pen 3c-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Labour indicators (number of employees, wages
and salaries, other personal costs, hours worked)
– Revenues and expenses
– Acquisition and disposal of intangible and
tangible fixed assets
Further adjustments made to the survey data: The data are modified in order to comply with
national accounts concepts.
Source 5: Quarterly statistical survey in insurance companies
This survey covers all commercial insurance companies. Regardless of the number of their
employees, all of the businesses incorporated in the business register with insurance as the
principal activity are obliged to fill in this questionnaire. Insurance companies use special
accounting rules for insurance companies. The statement is used as the main source for
quarterly national accounts.
41
Name of survey: Insurance companies – quarterly statistical
survey
Questionnaire: Poj 3a-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Labour indicators (number of employees, wages
and salaries, other personal costs, hours worked)
– Gross premiums written
– Gross premiums written on mandatory accident
insurance
– Claims paid
– Income from other financial placements
– Technical provisions of insurance companies
– Acquisition and disposal of intangible and
tangible fixed assets
Further adjustments made to the survey data:
Source 6: Quarterly statistical survey in pension funds
This survey covers all pension funds. Regardless of the number of their employees, all of the
businesses incorporated in the business register with pension funding as the principal activity
are obliged to fill in this questionnaire. Pension funds use accounting rules for banks and
other financial institutions. The statement is used as the main source for quarterly national
accounts.
Name of survey: Pension funds - quarterly statistical survey
Questionnaire: Poj 3b-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Labour indicators (number of employees, wages
and salaries, other personal costs, hours worked)
– Pension contributions received, total (accrual
based)
– Expenses on pensions, total (accrual based)
– Contributions from government (accrual based)
– Profits credited to members of supplementary
pension insurance
– Payables to members of pension insurance
– Acquisition and disposal of intangible and
tangible fixed assets
Further adjustments made to the survey data:
Source 7: Quarterly statistical survey in health insurance companies
This survey serves as the main data source for compilation of quarterly national accounts for
health insurance companies classified in S.1314, as a supplementary data source for
compilation of annual national accounts for those units and also as a data source for
calculation of expenses on final consumption of the general government sector. The main
activity of these units consists in carrying out health insurance. Major part of their incomes is
based on insurance premiums paid by policyholders, their employers and from the state
budget (e.g. for children, pensioners, receivers of unemployment benefits, people under 26
years of age who are attending school, etc.), while expenses include mainly settlement of
health care costs, expenses on prescribed medicines and other expenses.
42
Name of survey: Health insurance companies – quarterly
statistical survey
Questionnaire: Zdp 3-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Indicators on labour force (number of
employees, hours worked, wages, other personal
expenses)
– Revenues and expenses (raw materials and
utilities, services used, depreciation, accrualbased
insurance premiums structured by payers,
i. e. for persons in labour or similar relation, self
employed persons and persons without taxable
incomes, fines and penalties received in
connection with health insurance, costs of health
care structured by its character, i. e. out-patient
health care provided by general practitioners and
by other specialists, in-patient health care, dental
care, prescribed medicines and medical devices,
spa treatment, treatment abroad, costs of
transport, ambulance services, care in
convalescence homes and other costs of health
care
– Stocks of intangible and tangible fixed assets,
equity capital and total liabilities,
acquisition/sales of intangible and tangible fixed
assets
Further adjustments made to the survey data: No adjustments are needed, 9 active health
insurance companies respond without problems.
Source 8: Quarterly statistical survey in selected government and other institutions
Quarterly statistical survey covers about 110 institutions. The main groups are as follows: 26
public non-state universities (they are of the character of non-profit institutions, 80-90% of
their costs are funded from the state budget, they are classified in the sub-sector of the central
general government), 71 public research institutes, 4 public institutions (3 regional Czech
(public) television, Czech (public) radio), Railway Infrastructure Administration, 4 state
funds, selected institutions dealing in financial intermediation, etc.
Name of survey: Selected government and other institutions
- quarterly statistical survey
Questionnaire: VPI 3-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: – Indicators on labour force (number of
employees, hours worked, wages, other personal
expenses)
– Expenses (e.g. for consumption of material,
energy, services used, personnel cost, social
insurance contributions, taxes and fees, interest,
etc.) and revenues (revenues from sales of goods
and services, change in stocks of own products,
capitalization, penalties, interest, revenues from
sales of assets, subsidies, contributions, etc.)
43
– Assets and liabilities – stocks of non-financial
assets, short-term receivables/liabilities and longterm
receivables/liabilities
Further adjustments made to the survey data: The survey is exhaustive. Non-response is very
low and is solved by imputation.
Source 9: Quarterly statistical survey of employees and wages
Survey is conducted for more than 9600 government institutions, central and local semibudgetary
organizations, non-profit institutions, generally beneficial corporations,
foundations, civic interest partnerships, political parties, churches, universities (without public
ones), housing cooperatives, etc. Data are used among others for analyzing development and
structure of employment and wages.
Name of survey: Quarterly statistical survey of employees and
wages
Questionnaire: Prace 2-04
Periodicity: Quarterly
Time of availability of results: First results – 35 days after the end of the survey
period, more complete results – 50 days after the
end of the survey period.
Main variables used in QNA: Basic indicators on labour force (number of
employees, hours worked, wages, other personal
expenses)
Further adjustments made to the survey data: The survey is a combination of exhaustive and
sample survey. Grossing up is made for sample
results and non-responses.
Source 10: Monthly statistical survey in services
This data source is used for flash estimates only. Because timeliness of the household budget
survey is not sufficient for flash estimates, sales in services are used as a proxy indicator for
estimates of household final consumption expenditure. Monthly survey in services provides
three indicators: sales without VAT, sales with VAT and VAT (as a difference). Reporting
units with 100 and more employees are covered all, and smaller enterprises by way of
samples. In groups where sampling is applied, so-called rotation takes places, i.e. partial
substitution of the sample, aimed at updating the set of reporting units on the one hand, and
keeping comparability with data produced previously on the other.
Name of survey: Monthly statistical survey in services
Questionnaire: SP 1-12
Periodicity: Monthly
Time of availability of results: 40 days after the end of the survey period
Main variables used in QNA: Sales with VAT
Further adjustments made to the survey data:
Source 11: Monthly statistical survey of building permissions
This survey serves as a supplementary source for estimation of construction part of gross
fixed capital formation. Permissions are split in dwellings and other buildings and structures.
Name of survey: Monthly stat. survey of building permissions
Questionnaire: Stav 2-12
Periodicity: Monthly
Time of availability of results: 30 days after the end of the survey period
Main variables used in QNA: Numbers of granted building permits, their
approximate value, etc.
Further adjustments made to the survey data: None
44
Source 12: Statistical survey of completed houses
This survey provides information for an estimation of the housing construction by households.
Name of survey: Statistical survey of completed houses
Questionnaire: Stav 7-99
Periodicity: Irregular, Results -Quarterly
Time of availability of results: 5 month after the end of the survey period
Main variables used in QNA: Prices and numbers of new flats and houses, types
of construction units, built-up area of dwellings,
useful area of flats.
Further adjustments made to the survey data: None
Source 13: Consumer price indices
Trends in consumer prices (cost of living) are measured on consumer baskets based on a
sample of goods and services paid for by population. Price representatives include such
products and services which account for an important share in population's expenditure and
cover the entire sphere of consumption. Their total number is about 730. They are gradually
aggregated into 12 main parts of consumer basket by means of a weighed arithmetic average
of individual price indices. Weights for the consumer baskets, which are used to calculate
consumer price (cost-of-living) indices, are based on the structure of household expenditures
as established by household budget statistics in 2005, which were rectified by national
accounts statistics.
Name of survey: Consumer price indices
Periodicity: Monthly
Time of availability of results: 30 days after the end of the survey period
Main variables used in QNA: Consumer price indices – three-digit COICOP
Further adjustments made to the survey data:
Source 14: Producer price indices
Producer price indices comprise prices of industrial producers, construction works price
index, price indices of market services and price indices of agricultural producers.
The prices of industrial producers are surveyed monthly on the basis of data provided by
the selected organizations (about 1200) for the selected representatives (about 4700). The
reported prices are those agreed upon between the supplier and the customer inland. They
exclude VAT, excise tax, costs of transport to the customer and costs incidental to the
transport, and are invoiced for the more important trade cases.
In 1995, an advanced type of statistical reporting („shuttle“ reporting) was put into use to
determine the construction works, constructions and construction works costs price index:
the contents of the questionnaire are not amended for the period of at last 2 years and the
questionnaire travels between the reporting unit and the State Statistical Service to and from.
141 price representatives (chosen types of construction work) are included in the
questionnaire. The reporting network established by purposive sampling embraced about 750
respondents of different classes. Quarterly reported prices are negotiated between the supplier
and the customer for a unit of construction work, carried out by own staff of the reporting unit
in the Czech Republic. In addition to material for domestic construction, they include all the
other costs needed to implement the activity under survey, and exclude the costs of site
preparation and VAT.
45
The price indices of market services include the following indices in the business sphere
(i.e. between businesses): price indices of internal goods transport, postal and
communications services, financial intermediation, and the other business services and
sewerage.
The price indices of agricultural producers are calculated every month from prices
collected among approximately 650 selected producers in agriculture (private, cooperative
and state-owned companies) and does not include VAT. Collected are prices (excluding those
of output for own consumption) designed for and obtained in internal market. Since 1 January
2001, prices of agricultural producers are measured on 95 fundamental agricultural products
(price representatives): 63 plant products (including fruits and vegetables) and 32 livestock
products.
Name of survey: Producer price indices
Periodicity: Monthly (construction works quarterly)
Time of availability of results: 25 days after the end of the survey period
(construction works after 45 days)
Main variables used in QNA: Producer price indices – two-digit CPA
Further adjustments made to the survey data:
Source 15: Export and import price indices
The indices are compiled according to the Harmonized System and are converted to suit the
breakdown by SITC, Rev.4 main group and, for the needs of national accounts and Eurostat,
the breakdown by the Standard Classification of Production (CZ-CPA). The price
representatives were chosen by enterprises, joint-stock companies and limited liability
companies important for the external trade of the Czech Republic (i.e., by both production
enterprises and enterprises engaged in foreign trade only - about 520 and 480 of them engaged
in exports and imports, respectively). At present, the weight pattern includes approximately
1750 exported and 1650 imported products, raw materials and supplies - price representatives,
which take up a significant share in the value of rather significant groups traded in the
framework of external trade.
Name of survey: Export and import price indices
Periodicity: Monthly
Time of availability of results: 50 days after the end of the survey period
Main variables used in QNA: Export and import price indices – two-digit CPA
Further adjustments made to the survey data:
Source 16: Household budget survey
The Household Budget Survey (HBS) provides information on expenditure and consumption
structure of private households, on differences in consumption patterns of households
classified by various aspects, or on impacts of certain factors (e.g. price movements, situation
in the market) on expenditure structure.
Sampling is carried out on the basis of target-groups-quotas. It means that the surveyed
households are selected proportionally from determined target groups, which are defined by
basic sampling characteristics: social group of the household, number of the unprovided-forchildren
and net income per capita. Following social groups are determined for selection of
households into the sample: employees, farmers (or employees in agriculture), entrepreneurs
and retired persons. Around 3000 households are covered by the survey. Results are obtained
in CZK per capita according to the COICOP classification.
46
Name of survey: Household budget survey
Periodicity: Quarterly
Time of availability of results: 60 days after the end of the survey period
(preliminary version)
Main variables used in QNA: Household expenditures – three-digit COICOP
Further adjustments made to the survey data:
Source 17: Custom statistics / declarations
Intrastat is a system for trade within EU surveying especially flows of goods among EU
member countries by means of Intrastat questionnaire. Extrastat is a system for statistics of
external trade with „third” countries which are not EU members. Data are collected by means
of custom declarations. Data collection and the first checking of data is provided by the
General Directorate of Customs. Following processing, checking and publishing is ensured by
the CZSO.
Name of data source: Custom statistics / declarations
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance – superior body of the
General Directorate of Customs; the purpose is
collecting of data concerning customs
Periodicity: Monthly
Time of availability of results: 35 days after the end of the reference month
Variables used for QNA: Exports and imports of goods
Further adjustments made to the data: Data are processed and checked in the CZSO
Source 18: Special Database
This source contains data from the so-called “Special Database” provided by the Department
of Methodology of performing statistical processing at the CZSO. The Special Database
provides numbers of employees based on the data from the Register of the Czech Social
Security Administration. The data are adjusted according to results from other statistical
questionnaires (Prum 1-12, P3-04 and others) and the data from other registers (mainly the
Business Register). Year-on-year indices of numbers of employees are used for estimation of
indicators for organizations with less than 10 employees.
Name of data source: Special Database
Organisation collecting the data, and purposes
for which it is collected:
Czech Social Security Administration
Periodicity: Monthly
Time of availability of results: 35 days after the end of the reference month
Variables used for QNA: Number of employees
Further adjustments made to the data: None
Source 19: Labour force survey (LFS)
The main purpose of the LFS is to obtain regular information about situation at the labour
market. Its analysis is enabled from various points of view, especially economic, social,
demographic, etc. Results from the LFS improve quality of information on employment and
unemployment of population. Recommendations of Eurostat, ILO and other international
organisations are taken into account. Therefore results of the LFS are comparable with results
from other countries.
Name of data source: Labour force survey
Organisation collecting the data, and purposes
for which it is collected:
Czech Statistical Office, to obtain information
about situation at the labour market
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
47
Variables used for QNA: Self-employed – persons, FTE, hours worked of
self-employed, employees, residents working
abroad
Further adjustments made to the data:
Source 20: Expenditures and revenues of budgetary organisations (principal activity)
The Ministry of Finance collects these data to obtain information on revenues and
expenditures of the state budget, for budgetary control and for compilation of the State Final
Account. Data are structured by chapters of the state budget (41 chapters), by items of
budgetary classification and by functions. Data are complete for 362 central and 7111 local
budgetary organizations.
Name of data source: Expenditures and revenues statement of both
central (Fin RO 2-04 U) and local (Fin RO 2-12
M) budgetary organizations (for principal
activity only)
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance
Periodicity: Quarterly
Time of availability of results: 20-70 days after the end of the reference quarter
(depends on type of data and particular quarter)
Variables used for QNA: Very detailed data on expenditures and revenues
on cash basis.
– Revenues (tax revenues, income from own
activities, income from property lease, income
from interest and financial property sales,
received sanction payments, court fees, income
from sales of non-capital assets)
– Expenditures (wages and salaries, social
insurance contributions, material purchase,
interest and other financial expenditure, purchase
of water, fuel and energy, purchase of services,
subsidies and investment grants, acquisition of
tangible and intangible capital assets)
Further adjustments made to the data: Adjustment is made for main local taxes (VAT,
real property tax, taxes on income) from cash to
accrual basis. Some items of budgetary
classification are divided into several ESA codes,
e.g. a) item 1361 Administrative fees, b) item
1346 Motor vehicle entry fees.
Source 21: Financial statements of budgetary organisations (secondary activity)
The CZSO obtains data for secondary activity of central and local budgetary organizations
from the Ministry of Finance. Data are aggregated according to two-digit NACE (individual
data are not available). Budgetary organizations fill in the same type of financial statements as
semi-budgetary organizations (see source 23). Data are complete for 362 central and 7111
local budgetary organizations.
Name of data source: Financial statements (profit and loss statement
Uc OUPO 4-04 and balance sheet Uc OUPO 3-
04) of both central and local budgetary
organizations (for secondary activity only)
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
48
Variables used for QNA: – Costs (e.g. raw materials and utilities, services
used, repairs, wages and salaries, social
insurance contributions, taxes and fees, interest,
etc.)
– Revenues (revenue from sales of goods and
services, capitalization, penalties, interest,
revenue from sales of equity, revenue from
allowances and subsidies etc.)
– Assets and liabilities (stocks of non-financial
assets, short-term receivable/liabilities and longterm
receivables/liabilities)
Further adjustments made to the data: The survey is exhaustive.
Source 22: Expenditures and revenues of state extra-budgetary funds
The Ministry of Finance collects quarterly accounting data of the state extra-budgetary funds.
Each of these funds has been established by a special law as an independent legal person and
has a specific purpose. State extra-budgetary funds keep double accounting system on cash
basis and use the budgetary classification for recording of expenditures and revenues. This
budgetary classification is the same as budgetary organizations use. Until now, seven state
extra-budgetary funds have been established:
State Agricultural and Intervention Fund carries out purchases of agricultural products and
foodstuffs for government intervention, allocates production quotas, provides financial
support and subsidies, sales agricultural products.
State Cinematography Fund supports various types of cinematography projects.
State Dwelling Fund has been established to support construction and repairing rental
housing and engineering infrastructure in municipalities.
State Transport Infrastructure Fund has been established for financing construction,
service and modernization of roads, highways, railway infrastructure and domestic
waterways.
State Fund of Culture provides funds to specific cultural projects.
State Environmental Fund constitutes an important extra-budgetary source in the area of
environment protection and improvement and also provides subsidies and investment
grants and loans in the area of protection of water, air and improvement of countryside.
State Soil Reclamation Fund ensures return of land back to agriculture. At present, the
fund does not have any activity and its revenues stem only from repayments of loans
having been provided in past.
Name of data source: Expenditures and revenues of state extrabudgetary
funds (Fin RO 2-04)
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance collects data to obtain
information on revenues and expenditures of state
extra-budgetary funds, to control budgets of these
funds, for compilation of the State Final Account
and provides data to the CZSO for compilation of
national accounts.
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: Very detailed data on expenditures and revenues
on cash basis.
– Revenues (tax revenues, income from own
activities, income from property lease, income
from interest and financial property sales,
received sanction payments, income from sales of
non-capital assets)
– Expenditures (wages and salaries, social
49
insurance contributions, material purchase,
interests and other financial expenditures,
purchase of water, fuel and energy, purchase of
services, subsidies and investment grants,
acquisition of tangible and intangible capital
assets)
Further adjustments made to the data: The survey is exhaustive. Tax revenues are
adjusted to accrual basis.
Source 23: Financial statements of semi-budgetary organisations
The CZSO obtains data for primary and secondary activity of central and local semibudgetary
organizations from the Ministry of Finance. Central semi-budgetary organizations
are established by a central budgetary organization, e.g. a ministry, to carry out some
government activities, in particular in cultural, education, health or research areas. The
organization is obliged to transfer most of the surplus of the budget to its founder. Local semibudgetary
organizations are established by a local budgetary organization, e.g. a regional
office or a municipality, to carry out some government activities, in particular in areas of
culture, education or health.
Central and local semi-budgetary organizations are linked with the state or local budget
through their financial relations. They provide paid services at prices, which usually cannot
cover their costs and for that reason they receive subsidies, which are equal to a difference
between budgeted receipts and costs. If receipts exceed costs, a semi-budgetary organization
is obliged to transfer most of the surplus of the budget to its founder.
The Ministry of Finance carried out a test according to 50 % criterion of cost’s compensation
by sales in 2004; data for 2002 and 2003 were used. On the basis of the test, central semibudgetary
organizations were classified in three sub-sectors, i.e. in the central general
government (S.1311, 228 organizations), non-financial public corporations (S.11001, 77 org.)
and in financial corporations (S.124, 1 org.). Local semi-budgetary organizations were
classified in two sub-sectors, i.e. in the local general government (S.1313, 10 394 org.) and
non-financial public corporations (S.11001, 517 org.).
Activities of a semi-budgetary organization consist of principal (basic) and secondary
activities, but according to accounting rules determined by the Ministry of Finance, every
semi-budgetary organization is obliged to keep separate bookkeeping for principal and
secondary activities respectively, as far as costs and revenues are concerned. The semibudgetary
organization as a whole (i.e. including its secondary activities) is classified into the
same branch (CZ-NACE) on three-digit level.
Starting from 2005 the Ministry of Finance, which collects and processes financial statements
of all semi-budgetary organizations – profit and loss statements and balance sheets, provides
aggregated quarterly data to the CZSO. Results are split by sub-sector, and within every subsector
separate data for costs and revenues by principal and secondary activity are given. For
units classified in the general government sector, data on principal activity are used for
calculation of non-market output and data on secondary activity are used for calculation of
market output. In the other institutional sectors, all activities of the semi-budgetary
organizations are considered as market ones.
50
Name of data source: Financial statements (profit and loss statement
and balance sheet ) of both central and local
semi-budgetary organizations (for principal and
secondary activity separately)
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: – Costs (e.g. raw materials and utilities, services
used, repairs, wages and salaries, social
insurance contributions, taxes and fees, interest,
etc.)
– Revenues (revenue from sales of goods and
services, capitalization, penalties, interest,
revenue from sales of equity, revenue from
allowances and subsidies, etc.)
– Assets and liabilities (stocks of non-financial
assets, short-term receivable/liabilities and longterm
receivables/liabilities)
Further adjustments made to the data: The survey is exhaustive.
Source 24: Financial statements of the Czech Consolidation Agency
This source contains quarterly accounting data of the Czech Consolidation Agency (Ceska
konsolidacni agentura).
Name of data source: Financial statements of the Czech Consolidation
Agency (profit and loss statement Bil (CNB) 2-
12 and balance sheet Bil (CNB) 1-12)
Organisation collecting the data, and purposes
for which it is collected:
Czech Consolidation Agency
Periodicity: Monthly, but CZSO receives quarterly sums
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: – Expenses (interests, taxes and fees, exchange
rate losses, expenses on other financial
operations, wages and salaries, social insurance
contributions, services used, fixed capital
consumption, other expenses)
– Revenues (interests, charges and commissions,
profits from sale of securities, exchange rate
profits, profits from other financial operations,
other revenues)
– Stocks of non-financial assets, financial assets,
short-term receivables and liabilities and longterm
receivables and liabilities
Further adjustments made to the data: The unit keeps double book-keeping system;
adjustment of revenues is made for recording
capital transfers from the state budget and from
NPF in item D.99 (as capital transfer within the
general government sector).
Source 25: Financial statements of the Czech Collection, Ltd.
This source contains quarterly accounting data of the Czech Collection, Ltd. and subsidiaries
of the Czech Consolidation Agency. Financial group of the Czech Consolidation Agency
consisted of Czech financial, Ltd., PRISKO and KONPO up to 31 August 2006. Czech
financial, Ltd., and KONPO have changed into parts of the Czech Consolidation Agency
since 1 September 2006.
51
Financial statements of the Czech Collection, Ltd. and subsidiary companies of the Czech
Consolidation Agency serve as the main data source for compilation of national accounts for
these units. This data source is set up in accordance with the Act on accounting and
accounting rules for business enterprises. Selected items mentioned in the table below must be
subject to closer specification realised through individual questioning of reporting units.
Name of data source: Financial statements of the Czech Collection,
Ltd., and subsidiaries of the Czech Consolidation
Agency (profit and loss account, balance sheet
and annual report)
Organisation collecting the data, and purposes
for which it is collected:
Czech Collection, Ltd.
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: – Revenues (revenue from sales of own goods and
services, capitalization, other revenues)
– Costs (raw materials and utilities, services used,
wages and salaries, social insurance
contributions, taxes and fees, interest,
depreciation, other expenses)
– Stocks of non-financial assets, financial assets,
short-term receivables/liabilities and long-term
receivables/liabilities
Further adjustments made to the data:
Source 26: Financial statements of the Farming and Forestry Support and Guarantee
Fund (PGRLF)
This source contains quarterly accounting data of the Farming and Forestry Support and
Guarantee Fund. These statements serve as the main data source for compilation of national
accounts for this unit. Its major activity is granting subsidies and guaranties for parts of loans
to entities operating in the area of agriculture, forestry, water management and industry
concerned with processing of agricultural production. Unit’s activity is financed by subsidies
received from the state budget together with its own resources from financial investment.
This data source is set up in accordance with the Act on accounting and accounting rules for
business enterprises. Selected items mentioned in the table below must be subject to closer
specification realised through individual questioning of reporting units.
Name of data source: Financial statements of the Farming and
Forestry Support and Guarantee Fund (profit
and loss account, balance sheet and annual
report)
Organisation collecting the data, and purposes
for which it is collected:
Farming and Forestry Support and Guarantee
Fund
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
(problems were with data for the 1st
quarters,
expert estimates had to be done)
Variables used for QNA: – Revenues (revenue from sales of own goods and
services, capitalization, other revenues)
– Costs (raw materials and utilities, services used,
wages and salaries, social insurance
contributions, taxes and fees, interest,
depreciation, other expenses)
– Stocks of non-financial assets, financial assets,
52
short-term receivables/liabilities and long-term
receivables/liabilities
Further adjustments made to the data:
Source 27: Financial statements of the Vine-grower fund
This source contains quarterly accounting data of the Vine-grower fund. By the law, the Fund
collects compulsory levies and provides “assistance” to vine-growers. The levy is imposed on
sale of each 1 litre of a new kind of wine and on each 1 hectare of the vineyard. Levies are
treated as taxes (D.214 and D.29). The assistance is provided for new planted or regenerated
vineyards and on production and promotion sales of wine; the amounts paid as unrequited
payments are treated as investments grants or subsidies on products (D.92, D.319).
In national accounts, the Fund is classified in the central government sub-sector S.1311. This
unit keeps accrual accounting system and fills in financial statements for non-profit
institutions.
Name of data source: Financial statements of the Vine-grower fund
(Uc NO 2-01 profit and loss statement, Uc NO 1-
01 balance sheet )
Organisation collecting the data, and purposes
for which it is collected:
Vine-grower Fund
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: – Revenues (revenue from sales of own goods and
services, capitalization, other revenues)
– Costs (raw materials and utilities, services used,
wages and salaries, social insurance
contributions, taxes and fees, interest,
depreciation, other expenses)
– Stocks of non-financial assets, financial assets,
short-term receivables/liabilities and long-term
receivables/liabilities
Further adjustments made to the data:
Source 28: Financial statements of other extra-budgetary funds
This source contains quarterly accounting data of other extra-budgetary funds: the National
Property Fund (FNM) and the Land Fund (PF). These funds have a special treatment within
the government accounts. They have their own chart of accounts and special financial
statements. Both of them report full balance sheets and profit and loss statements (so-called
formation and use of the fund statements).
The main aim of the FNM was to manage the privatisation process in the Czech Republic and
its revenues stem mainly from privatisation of state property. The FNM has been a separate
department of Ministry of Finance since 1 January 2006.
The major operations of PF are connected with privatisation of agricultural land and its main
revenues stem from sale and rental of state land assets. In national accounts, the PF is
classified in the central government sub-sector (S.1311). This unit keeps accrual accounting
system and fills in financial statements for non-profit institutions.
53
Name of data source: Financial statements of other extra-budgetary
funds: the National Property Fund (FNM) and
the Land Fund (PF) (generation and use of the
fund, balance sheet)
Organisation collecting the data, and purposes
for which it is collected:
National Property Fund and Land Fund
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: – Expenses (operating and capital expenses (raw
materials and utilities, wages and salaries, social
insurance contributions, taxes and fees), expenses
connected with privatisation, interests paid, assets
transfer to municipalities, loss from sale of
shares, settlement of beneficiary persons, claims,
etc.)
– Revenues (profit from sale of shares, rent
received from leased assets, received banking
interest from deposits, fees, revenue from
sale of land, etc.)
– Stocks of non-financial assets, financial assets,
short-term and long-term receivables and
liabilities
Further adjustments made to the data:
Source 29: Financial statements and quarterly reports of the Railway Infrastructure
Administration (SZDC)
This source contains financial statements of the Railway Infrastructure Administration (state
organization). This unit is engaged in managing state property, i.e. railway transport roads,
rents transport roads to, and purchases maintenance services from, railway companies.
Production costs are covered for more than 50% by the state budget, capital expenditures are
covered by the State Transport Infrastructure Fund. The unit assumed liabilities of the former
Czech Railways (state organization). Financial statements serve as the main data source for
compilation of national accounts for this unit.
Name of data source: Financial statements and quarterly reports of the
Railway Infrastructure Administration, state
organization
Organisation collecting the data, and purposes
for which it is collected:
Railway Infrastructure Administration
Periodicity: Quarterly
Time of availability of results: 45 days after the end of the reference quarter
Variables used for QNA: Profit and loss account and balance sheet items
Further adjustments made to the data: Following items stated in financial statements
under legal requirements must be specified in
detail: revenues from sales of own services
(includes market production and other nonmarket
production), taxes and fees (includes taxes
as well as court fees), other operating revenues
and expenses (besides market output and
intermediate consumption it includes subsidies,
revenues from receivables written-off, remission
of debt, penalties receivable and payable, writingoff
receivables) and other financial revenues and
expenses (includes bank fees together with
exchange differences) and extraordinary incomes
and expenses.
54
Source 30: Financial statements of the Public Private Partnership (PPP) Centre
The PPP Centre (joint stock company) was formed on 1 July 2004. It has been established to
speed up preparation of legal environment and methodological procedures in relation to PPP
in the Czech Republic. Its mission is to support the Ministry of Finance in creation of policy
at the area of PPPs, provision of manuals and other related affairs, which are in responsibility
of the Ministry of Finance. It should apply the best practice knowledge in governance and
preparation of PPP projects. The PPP Centre acts as a knowledge centre for implementation of
PPP projects. Having founded the PPP Centre, the Czech Republic fulfilled recommendations
of the World Bank to create an individual unit, which takes care on fiscally save
implementation of PPP.
Name of data source: Financial statements of the PPP Centre (profit
and loss statement and balance sheet )
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance
Periodicity: Quarterly
Time of availability of results: 85 days after the end of the reference quarter
Variables used for QNA: Costs and revenues
Further adjustments made to the data:
Source 31: Secondary distribution of health insurance contributions
This source contains data on secondary distribution of health insurance contributions. Health
insurance companies (classified in S.1314) are obliged to transfer a part of collected health
insurance contributions (50 %) regularly to a common fund. Its financial resources are used
for covering social benefits for persons who are not recipients of wages or other similar
revenues (e. g. pensioners, children and students). The General Health Insurance Company
manages the common fund and relocates these financial resources in compliance with the
number of pensioners, children and students who are on the list as insured persons.
The Ministry of Health provides the data on cash basis to the CZSO monthly and the National
Accounts Department uses them for compilation of health insurance contributions time
adjusted in compliance with the EU Regulation No 2516/2000.
Name of data source: Health insurance companies – secondary
distribution of health insurance contributions
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Health (government supervision); as a
basis for common fund generation and its
reallocation
Periodicity: Monthly, but CZSO receives quarterly data
Time of availability of results: First results available 35 days after the end of the
reference quarter
Variables used for QNA: Collected health insurance contributions in cash
and contribution of health insurance companies
into the common fund managed by the General
Health Insurance Company
Further adjustments made to the data: Data for time adjusted social contributions (1
month) – in compliance with the EU Regulation
2516/2000. Time-adjustment (1 month) is used for
the estimation of accrual based health insurance
contributions.
55
Source 32: Financial statements of health insurance companies
This source contains bookkeeping data on economic activity of health compulsory insurance
companies (classified in S.1314). These indicators of economic activity are used as a
supplementary data source for compilation of national accounts for these units. Authorities of
government supervision (divisions of the Ministry of Finance and the Ministry of Health)
provide the data. Its content corresponds with specific bookkeeping system determined by the
Ministry of Finance (on the activity and on the issue of bookkeeping system of these units).
This control source of data provides information on balance sheets items, on formation of, and
drawing from, funds of health insurance companies on accrual basis and also cash based data
on incomes and expenditures.
Name of data source: Health insurance companies - financial
statements (formation and drawing from funds)
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Health and Ministry of Finance
(government supervision)
Periodicity: Quarterly
Time of availability of results: First results are available 70 days after the end of
the reference quarter (it serves as a checking and
supplementary data source)
Variables used for QNA: Accrual-based data on formation of, and drawing
from, separate funds (data on subscribed
insurance premiums, interests, other revenues,
costs of health care, fines and penalties received,
personal expenses, social insurance contributions,
depreciation, fines and penalties paid, interest
and other expenses are provided in aggregated
form), cash-based data on incomes and
expenditures.
Further adjustments made to the data: The data are used mainly for consistency checks
with methodologically comparable items of the
quarterly statistical survey Zdp 3-04. Due to
inconvenient time availability and methodology,
results of statistical survey are preferred for
compilation of quarterly national accounts.
Source 33: State budget current performance
This data source is used for flash estimates only. Central budgetary organisations have their
accounts with the central bank (Czech National Bank). Daily balances are available to the
Ministry of Finance that prepares every month a press release about the state budget current
performance. When statements on expenditures and revenues of budgetary organisations
(source 20) are not sufficiently timely for a flash estimate, this data source is used instead.
Unfortunately, the state budget current performance covers much less information than
financial statements. Only the main types of revenues and expenditures are included.
Moreover, there is no information about the breakdown by kind of activity.
Name of data source: State budget current performance
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Finance
Periodicity: Monthly
Time of availability of results: 1st
working day after the end of the month
(data for December are available on 15 January)
Variables used for QNA: The main types of revenues and expenditures
Further adjustments made to the data:
56
Source 34: Accounting reports of the Czech Social Security Administration
This source contains data from accounting reports of the Czech Social Security
Administration (CSSA). The data on social contributions to social security funds are one of
the most important components of the state budget in the Czech Republic. The data are linked
with indicators on number of units and employees and on that part of wages and salaries,
which is the base for assessment of the contributions. In the process of compensation of
employees compilation, the data on wages and salaries from the CSSA are used for
comparison with the data from statistical surveys.
Name of data source: Accounting reports of the Czech Social Security
Administration (CSSA)
Organisation collecting the data, and purposes
for which it is collected:
Czech Social Security Administration to obtain
information about account balance of obligatory
social contributions and additional information.
Periodicity: Monthly
Time of availability of results: 20th day of the following month
Variables used for QNA: Data on individual types of cash income and
outlays, number of surveyed legal and natural
persons, wages and salaries as a basis for
calculation of compensation of employees.
Further adjustments made to the data: The sum of the data for 3 months starting with
February of the reference time period is used as
the estimate of compensation of employees. One
month’s shift is retained. E.g. the data for the first
quarter are obtained as the revenues of the CSSA
during February, March and April.
Source 35: Balance of revenues and expenditures of the Czech Social Security
Administration
This source contains data from balance of revenues and expenditures. The information
includes amounts of collected social contributions split by the budgetary structure (i. e.
revenues of the state budget). The information is used for calculation and recording of these
social contributions in compliance with the EU Regulation No 2516/2000.
Name of data source: Balance of revenues and expenditures of the
Czech Social Security Administration (CSSA)
Organisation collecting the data, and purposes
for which it is collected:
Czech Social Security Administration; data are
used for the purpose of control of obligatory
social contributions fulfilment, of cash revenues
of the State budget Pensions, sickness
contributions and unemployment contributions
are split by type of payers (employers, employees
and self-employed persons). Cumulated data are
based on bank information. Social benefits are
divided into paragraphs of the budgetary
classification. Social benefits paid to the Rest of
the World are presented separately.
Periodicity: Monthly
Time of availability of results: 20th day of the following month
Variables used for QNA: Monthly data on social insurance payments of
civil employees in the required structure
Further adjustments made to the data: Time-adjustment (1 month) is used for the
estimation of accrual based social contributions.
57
Source 36: Employment of foreigners
This source provides the number of non-residents working in the Czech Republic. The
Ministry of Labour and Social Affairs provides this information. These data are obtained from
the number of work permits issued by Labour Offices. Data are divided by individual country.
Data about the number of registered Slovak workers, who do not need work permits, are also
provided. Estimates of illegal workers are based on development of the number of residence
prohibition and expatriations from the Czech Republic. The Ministry of Foreign Affairs
provides information about the number of non-residents employed by embassies of the Czech
Republic.
Name of data source: Employment of foreigners
Organisation collecting the data, and purposes
for which it is collected:
Ministry of Labour and Social Affairs to obtain
information about non-residents working for
resident units.
Periodicity: Quarterly
Time of availability of results: 30 days after the end of the reference quarter
Variables used for QNA: Number of foreigners who have work permits,
number of foreigners who don't need work
permits, number of citizens from EU/EHP +
Switzerland, data are available by country of
origin.
Further adjustments made to the data: The number of non-residents employed by
embassies of the Czech Republic and illegal
workers are added.
Source 37: Financial statements of monetary institutions
This source contains accounting data from financial statements of monetary institutions. The
financial statements of commercial banks are prepared in compliance with the Act on
accounting and accounting rules for banks. They are sent to banking supervision, and the
CZSO gets the summary. These data serve as the main data source for compilation of
quarterly national accounts for monetary institutions.
Name of data source: Monetary institutions – financial statements
Profit and loss account (Uc Bil 2-12)
and balance sheet (Uc Bil 1-12)
Organisation collecting the data, and purposes
for which it is collected:
Czech National Bank - banking supervision
Periodicity: Monthly
Time of availability of results: 30 days after the end of the reference month
Variables used for QNA: Data are used for compilation of quarterly
national accounts for monetary institutions.
Further adjustments made to the data:
Source 38: Quarterly statements of interests and revenues
This source contains data from the quarterly survey V (CNB) 13-04. Interests on banking
loans and deposits for central bank and commercial banks are surveyed. This survey provides
information on interest received and paid according to sub-sectors. Data are used for FISIM
calculation and also for calculation of D.41 – Interest.
Name of data source: Quarterly statements of interests and revenues
Organisation collecting the data, and purposes
for which it is collected:
Czech National Bank
Data are used for FISIM calculation and also for
calculation of D.41 – Interest.
Periodicity: Quarterly
58
Time of availability of results: 50 days after the end of the reference quarter
Variables used for QNA:
Further adjustments made to the data:
Source 39: Monthly statements of deposits and credits
This source contains data from monthly banking statistics on stocks of loans and deposits
according to sub-sectors only for commercial banks. The central bank sends the summary data
via e-mail. Data are used for FISIM calculation.
Name of data source: Monthly statements of deposits and credits VST
(CNB) 11-12
Organisation collecting the data, and purposes
for which it is collected:
Czech National Bank
Data are used for FISIM calculation.
Periodicity: Quarterly (Monthly)
Time of availability of results: 50 days after the end of the reference quarter
Variables used for QNA:
Further adjustments made to the data:
Source 40: Balance of payments
Balance of payments provides a systematic record of transactions with non-residents. Data
from balance of payments are used in national accounts for compiling the external account of
goods and services, the external account of primary incomes and current transfers, the capital
account and the financial account.
Name of data source: Balance of payments
Organisation collecting the data, and purposes
for which it is collected:
Czech National Bank; compilation of the Czech
balance of payments according to the 5th Edition
of the IMF Manual.
Periodicity: Quarterly
Time of availability of results: 65 days after the end of the reference quarter
Variables used for QNA: Current account, capital account, financial
account components.
Further adjustments made to the data:
59
Annex Questionnaires of the quarterly enterprise survey in 2007
Table A.1 - Survey "P3-04" in 2007, version "b" for enterprises with 10-49 employees
A004b Labour indicators
a 1
Average registered number of employees in physical persons 01
Wages - excluding other personal costs 03
Number of hours worked by registered employees 06
Average number of persons temporarily assigned 07
by employment agencies to perform work for the respondent
Control total (sum of all lines) 99
A006 Production, costs and book value added
(in thousand CZK)
a 1
Sales of goods for resale 01
Sales of own goods 02
Sales of own services 03
Change in in-house inventories of own production 04
Capitalisation 05
Costs of goods sold 06
Production consumption 07
Book value added (rows 01+02+03+04+05-06-07) 08
Control total (sum of all lines) 99
A009b Increase and decrease of intangible
and tangible fixed assets
(in thousand CZK)
a 1 2
Intangible and tangible fixed assets 01
1) including taken through financial leasing and subsidies
Revenues
from sales
Row Acquisition 1)
Row
Reference
quarter
Row
Reference
quarter
60
Table A.2 - Survey "P3-04" in 2007, version "c" for enterprises with 50 and more employees
A004 Labour indicators
a 1
Average registered number of employees in physical persons 01
Average registered number of employees - full time equivalents 02
Wages - excluding other personal costs 03
04
05
Number of hours worked by registered employees 06
Average number of persons temporarily assigned 07
by employment agencies to perform work for the respondent
Control total (sum of all lines) 99
A006 Production, costs and book value added
(in thousand CZK)
a 1
Sales of goods for resale 01
Sales of own goods 02
Sales of own services 03
Change in in-house inventories of own production 04
Capitalisation 05
Costs of goods sold 06
Production consumption 07
Book value added (rows 01+02+03+04+05-06-07) 08
Control total (sum of all lines) 99
A009 Increase and decrease of intangible
and tangible fixed assets
(in thousand CZK)
a 1 2
Intangible and tangible fixed assets 01
Buildings and structures 02
Transport equipment 03
Machinery, instruments, equipment and inventory 04
Land and mineral reserves 05
Cultivated assets, livestock, art objects and collections 06
Intangible fixed assets (excluding emission permits) 07
99
1) including taken through financial leasing and subsidies
Row
Reference
quarter
Revenues
from sales
Row Acquisition 1)
Row
Reference
quarter
of which remuneration and bonuses
Other personal costs
Control total (sum of all lines)
incl.