You asked
What is the value of each item below contribution positive or negative toward GDP?
UK 2018
B.2g = 180,536
B.3g = 147,133
D.1 = 1,052,591
D.4 = 234,888
Primary resources total = 1,615,148
D.4 = 26,559
Primary uses total = 26,559
B.5g = 1,588,589
D.61/D.62 = 364,589
D.7 = 41,392
Secondary resources total = 405,981
D.5 = 237,077
D.61/D.62 = 301,412
D.7 = 53,714
Secondary uses total = 592,203
Balance of secondary income = -186,222
B.6g = 1,402,367
We said
Thank you for your request.
Not all the series submitted in this request have an impact upon GDP, this is because in the accounts a number of the series occur after GDP and represent the redistribution of wealth between institutional sectors of the economy where the value added generated by production is distributed to labour, capital and government, and transactions redistributing income and wealth.
Allocation of primary income account
Gross operating surplus (B.2g) has a positive impact upon GDP contributing 0.32% to GDP growth.
Gross mixed income (B.3g) has a positive impact upon GDP contributing 0.51% to GDP growth.
Compensation of employees (D.1) has a positive impact upon GDP contributing 2.11% to GDP growth. Table 1 in the accompanying download named 'Allocation of primary income' also includes the latest version of the data published within the UK Economic Accounts 2020 Quarter 3.
The following series have no impact upon the calculation of GDP, for your information, we have included Table 2 in the accompanying download, which provides a table of these series as a percentage of GDP. Table 2 also includes the latest version of the data published within the UK Economic Accounts 2020 Quarter 3.
Property income (D.4) appears in the accounts after the calculation of GDP and represent wealth distribution between institutional sectors.
Property income accrues when the owners of financial assets and natural resources put them at the disposal of other institutional sectors. The income payable for the use of financial assets is called investment income, while that payable for the use of a natural resource is called rent. Net property income is the sum of investment income and rent received less that paid.
Balance of gross primary income (B.5g) represents the balancing item of the allocation of primary income account, total resources less total uses equals balance of primary income. The balancing item is then carried forward into the secondary distribution of income account as a resource. The balancing item does not contribute to the calculation of GDP.
Secondary distribution of income account
Current taxes on income and wealth (D.5) appears in the accounts after the calculation of GDP and represent wealth distribution between institutional sectors.
Current taxes on income, wealth, etc. cover all compulsory, unrequited payments, in cash or in kind, levied periodically by general government and by the rest of the world on the income and wealth of institutional units, and some periodic taxes which are assessed neither on that income nor that wealth.
Net social contributions (D.61) and social benefits other than social transfers in kind (D.62) both appear in the accounts after the calculation of GDP and represent wealth distribution between institutional sectors.
Net social contributions (D61) are the actual or imputed contributions made by households to social insurance schemes to make provision for social benefits to be paid.
Social benefits other than social transfers in kind (D.62) is made up of three subcomponents: Social security benefits in cash (D.621) are social insurance benefits payable in cash to households by social security funds. Reimbursements are excluded and treated as social transfers in kind (D.632). Other social insurance benefits (D.622) correspond to benefits payable by employers in the context of other employment related social insurance schemes. Other employment-related social insurance benefits are social benefits (in cash or in kind) payable by social insurance schemes other than social security to contributors to the schemes, their dependants or their survivors. Social assistance benefits in cash (D623) are current transfers payable to households by government units or NPISHs to meet the same needs as social insurance benefits but which are not made under a social insurance scheme requiring participation usually by means of social contributions.
Other current transfers (D.7) appears in the accounts after the calculation of GDP and represent wealth distribution between institutional sectors.
Other current transfers represents non-life insurance premiums (D.71) and claims (D.72); With miscellaneous current transfers (D.75), which includes miscellaneous transfers such as transfers between households, fines and penalties imposed by courts, transfers arising from gambling, payments of compensation and other irregular transfers.
Gross disposable income (B.6g) represents the balancing item of the secondary distribution of income account, Total Resources less Total Uses equals gross disposable income. The balancing item is then carried forward into the use of disposable income account as a resource. The balancing item does not contribute to the calculation of GDP.
Download associated with request
- Allocation of primary income account (21.7 kB xlsx)