5204.0.55.013 - Information paper: Changes to selected series in the annual and quarterly Australian National Accounts, 2016-17  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 30/08/2017  First Issue
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INTRODUCTION

Following on from methodology changes detailed in 5204.0.55.012, this information paper describes the upcoming changes to published series in the annual product Australian System of National Accounts (cat. no. 5204.0) and quarterly product Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0).

Commencing with the 2016-17 issue of 5204.0, there will be additional breakdowns of gross value added (GVA) available for a number of industries. This issue will also include changes to the presentation of general government final consumption expenditure (GFCE) and gross fixed capital formation (GFCF) which will now be disaggregated by industry instead of by purpose. The 2016-17 issue of 5204.0 will be released on 27 October 2017.

The September quarter 2017 will be the first issue of 5206.0 to include the additional industry breakdowns within the production series of GVA. Additionally, a new table will be available from this issue containing quarterly estimates of components of GVA by industry in current price terms. The September quarter 2017 issue of 5206.0 is scheduled for release on 6 December 2017.

This information paper includes details of the new industry breakdowns and the affected tables. In addition, mock-ups of the new time series spreadsheets, including series IDs and data item description labels, are also available.


KEY CHANGES

CHANGES TO PUBLISHED LEVELS OF GROSS VALUE ADDED BY INDUSTRY

In 2017 a review of the National Income and Production Industry (NIPIND) classification used to compile GDP(P) was initiated in response to the changing composition of economic activity in Australia. In particular, the declining contribution of the Manufacturing industry and the rising contribution of service based industries has seen growing demand for the disaggregation of service industries. As a result of that review, the following changes to the published levels of industry GVA will be implemented for the 2016-17 release of 5204.0 and the September quarter 2017 release of 5206.0:

  • The Manufacturing industry will be reduced from eight subcategories to five: Food, Beverage and Tobacco Products; Petroleum, Coal, Chemical and Rubber Products; Metal Products; Machinery and Equipment; and Other Manufacturing.
  • The Construction industry will be published at ANZSIC subdivision level: Building Construction; Heavy and Civil Engineering Construction; and Construction Services.
  • The Information, Media and Telecommunications industry will be published under two subcategories: Telecommunications Services; and Other Information and Media Services.
  • The Financial and Insurance Services industry will be published under two subcategories: Finance; and Other Financial and Insurance Services;
  • The Rental, Hiring and Real Estate Services industry will be published at ANZSIC subdivision level: Rental and Hiring Services; and Property Operators and Real Estate Services.
  • The Professional, Scientific and Technical Services industry will be published under two subcategories: Computer System Design and Related Services; and Other Professional, Scientific and Technical Services.

There will be no impact on the time series or quality of previously published aggregate estimates.

ADDITIONAL TABLE OF CURRENT PRICE GROSS VALUE ADDED BY INDUSTRY

Prior to the September quarter 2017, the components of GDP(I) were compiled with no industry dimension. An estimate of current price gross value added (CP GVA) can be compiled from the income measure of GDP under the conceptual relationship that GVA can be distributed as either factor incomes or as flows to government. This relationship is represented as follows:

Current Price GVA = compensation of employees (COE)
+ gross operating surplus (GOS) and gross mixed income (GMI)
+ other taxes on production
- other subsidies on production

Using this approach, industry level estimates have been developed providing an industry dimension to the income estimates on a quarterly basis. The development of quarterly industry level CP GVA estimates is an extension of what is currently produced for the annual 5204.0 publication. Quarterly estimates of COE, GOS, GMI, and Taxes less subsidies by industry are compiled using existing data sources already used in the compilation of quarterly GDP(I) published in 5206.0.

CHANGES TO GFS CLASSIFICATION

The primary source of final consumption expenditure and gross fixed capital formation for the general government sector is the Government Finance Statistics (GFS) dataset. Tables were previously included in 5204.0 which disaggregated these items by purpose of expenditure. This disaggregation was based on the Government Purpose Classification (GPC), part of the GFS suite of classifications.

As part of the Australian implementation of the new international GFS standards, the GPC has been replaced by an Australian version of the international Classification of the Functions of Government (COFOG-A). As this classification is not part of the national accounts suite of classification, the COFOG-A detail in the GFS dataset has been mapped to industry as part of national accounts compilation. As a result, tables which previously disaggregated general government final consumption expenditure and gross fixed capital formation by purpose, will now be disaggregated by industry.


SUMMARY OF TABLE CHANGES

A summary of the time series affected by the above changes are detailed in Table 1. The additional content will affect the layout of the time series spreadsheets. All new series will be allocated new series IDs. There will be no changes to the data item description or series IDs for previously published estimates. The affected tables in the PDF file are detailed in Table 2.

TABLE 1. INDEX OF TIME SERIES SPREADSHEETS IMPACTED

Time series spreadsheet table number and nameTime series spreadsheet file name
Number of new series
Number of series removed

5206.0 – AUSTRALIAN NATIONAL ACCOUNTS: NATIONAL INCOME, EXPENDITURE AND PRODUCT

Table 6. Gross Value Added by Industry, Chain volume measures5206006_Industry_GVA.xls
36 of 350
4 of 350

Table 37. Industry Gross Value Added, Chain volume measures, Annual5206037_Industry_Gross_Value_Added_Annual.xls
12 of 55
4 of 55

Table 41. Indexes of Industrial Production5206041_Industry_Indexes.xls
6 of 54
24 of 54

Table 43. Indexes of Industrial Production, Annual5206043_ Industry_Indexes_Annual.xls
2 of 18
8 of 18

Table 45. Gross Value Added by Industry, Current prices5206045_Industry_GVA_Current_Price.xls
249 of 249
na

5204.0 – AUSTRALIAN SYSTEM OF NATIONAL ACCOUNTS

Table 5. Gross Value Added (GVA) by Industry5204005_GVA_By_Industry.xls
22 of 155
8 of 155

Table 35. Government Final Consumption Expenditure, by Level of government and industry , Current prices5204035_government_fce.xls
57 of 60
41 of 60

Table 53. General Government Gross Fixed Capital Formation by Level of government and industry , Current prices5204053_gen_gov_gfcf.xls
60 of 63
41 of 63


TABLE 2. INDEX OF PDF TABLES IMPACTED

PDF table number and name
Number of new series
Number of series removed

5206.0 – AUSTRALIAN NATIONAL ACCOUNTS: NATIONAL INCOME, EXPENDITURE AND PRODUCT

Table 14. Industry Gross Valued Added (a), Chain Volume Measures (b) : Trend
12 of 55
4 of 55

Table 15. Industry Gross Valued Added (a), Chain Volume Measures (b) - Percentage Changes (c) : Trend
12 of 55
4 of 55

Table 16. Industry Gross Valued Added (a), Chain Volume Measures (b) : Seasonally adjusted
12 of 55
4 of 55

Table 17. Industry Gross Valued Added (a), Chain Volume Measures (b) - Percentage Changes (c) : Seasonally adjusted
12 of 55
4 of 55

Table 45. Industry Gross Valued Added (a), Chain Volume Measures (b) : Annual
12 of 55
4 of 55



Previews of the new time series spreadsheets and PDF are located in the Downloads tab. There are no further changes to series IDs or data item descriptions in other time series spreadsheets, and as such they have not been included.

To assist with a streamlined transition, users that rely on either series IDs or data item descriptions to load or reference data may wish to use the provided mock-ups to test these changes. This will ensure the appropriate data item is being referenced and loaded correctly.


INQUIRIES

If you have any inquiries regarding the changes in this paper please contact National Accounts by email <national.accounts@abs.gov.au>.