Spain - Imports of Goods and Services

For Spain, the quarterly national accounts include the expenditure approach (GDP(E) or "use of GDP"), the production approach (GDP(O) including GVA by industry), the income approach (GDP(I) including employee compensation by industry), and the branch account for employment by industry. They conform to European standard ESA 2010.

The Quarterly Spanish National Accounts (QSNA) provides a coherent qualitative description of Spanish economic activity as a whole in the immediate past via a quarterly macro-economic framework, elaborated from the point of view of supply, demand and income. Similarly, it includes estimates of the level of employment in terms of national accounting with the following concepts: persons, jobs, full time jobs. The QSNA estimates are offered in two versions: gross or non-adjusted data, corrected for seasonal and calendar effects data. The QSNA system includes the quarterly accounts from the rest of the world that quantifies among other things, the capacity or need to finance the economy as a whole.

Active:

• National accounts framework: ESA 2010
• Industry classification:
  • CNAE 2009, localization of NACE Rev. 2
  • A*10 aggregation
• Measurements:
  • Millions of euros at current prices (Mil. EUR)
  • At chained year-2020 prices (Mil. Ch. 2020 EUR)
  • Chained volume index relative to 2020 (Vol. Index 2020=100)
  • Thousands of persons (Ths. #)
• Adjustments:
  • Calendar day adjusted and seasonally adjusted (CDASA)
  • Not adjusted (NSA)
• Native frequency: Quarterly
• Start date: Uniformly 1995Q1

Predecessors:

• 2015 prices - 1995Q1 to 2024Q2 ("_15")
• 2010 prices - 1995Q1 to 2017Q1 ("_10")
• 2008 prices - 1995Q1 to 2014Q2 ("_08")
• 2000 prices - 1995Q1 to 2011Q2 ("00")
• 1995 prices - 1980Q1 to 2004Q1 ("_95")
• 1986 prices - 1970Q1 to 1998Q4 ("_86")

Global concept aliases:

• GDP, GDP$
• G, G$
• C, C$
• I, I$
• IF, IF$
• CIVT
• NETEX, NETEX$
• EX, EX$
• IM, IM$
• YPEWS

The methodology employed by the QSNA is based on estimates by means of econometric techniques from models that relate the development of each SNA with a group of quarterly indicators that allow both quarterly breakdowns and extrapolation. Technically it can be said therefore, that the QSNA is a compromise between the rigor and amplitude of the SNA and the rapidity and opportunity of short term indicators.

The QSNA estimates are offered in current and volume terms. The first are valued at the same period's prices and the second are presented by means of indices linked to the specified reference year. These indices arise from linking the valuations carried out with the previous year's prices.

The QSNA estimates are offered in two versions: gross or non-adjusted data, corrected for seasonal and calendar effects data. The QSNA system includes the quarterly accounts from the rest of the world that quantifies among other things, the capacity or need to finance the economy as a whole.

All QSNA estimates are adjusted to the same principles of accounting coherence and balance as the annual National Accounting of Spain (NAS). Both statistics are in harmony with the European System of National and Regional Accounts (ESA).

Moody's Analytics supplements

For GDP(E) and GDP(O), we construct chained-price levels from the current-price levels and chained volume indexes.

For GDP(E), we construct trade balance.

For GDP(O), we construct current-price total (all-industries) GVA.

The advance of QSNA results for quarter t is published around t + 30 days.Likewise, the seasonally and calendar adjusted data (SAC) of the Advance results of the Quarterly National Accounts (QNA) incorporates the revision of the SAC results of previous quarters, in the case of quarters not previously estimated by the Annual Accounts.

These results are updated around t + 90 days. At the same time, updated results are disseminated from the previous quarters of the current year. In addition, in the case of the second quarter of each year, revised results are disseminated from the first quarter of year T-3, consistent with the policy of review of results of the Annual National Accounts of Spain.

The currency reference year is advanced every fifth year.

Further reading

At Eurostat:

• Statistics explained » National accounts
• Metadata » Classifications » NACE

At the IMF (SDDS Plus):

• National accounts (Jan 2024 / Aug 2024)

• Sep 2005 - Initial version.
• Nov 2011 - Reclassified to NACE Rev. 2, currency reference year advanced to 2008.
• Nov 2014 - Framework advanced to ESA 2010.
• Mar 2015 - Currency reference year advanced to 2010.
• Jan 2020 - Currency reference year advanced to 2015.
• 3 Oct 2024, Phillip Thorne - Currency reference year advanced to 2020: Properties, Further reading, Global concept aliases.