Logout / Access Other products Drop Down Arrow
Get live help Monday-Friday from 7:00AM-6:00PM ET (11:00AM-10:00PM GMT)  •  Contact Us
Check out our new FAQ section!
RSS Feed
Data Note: Colombia - Final consumption expenditure - Redefined
Wednesday, 17 Oct 2018 17:15 ET
By Jaclyn Zylka
October 2018 -- Concurrent with the change in currency reference year for the quarterly national accounts, the source redefined their treatment of insurance premium payments, which shifted final consumption expenditure to the private institutional sector from government (two quarterly series impacted).

In a direct communication, the source explained:

In Colombia, the social health insurance system is made up of the contributory and subsidized schemes. The National Accounts of the 2005 year base established that the Health Promoting Companies (EPS) were the entities defined to ensure these risks. Therefore, who acquired the insurance was the government, making the payment of premiums for this insurance to the EPS to protect households. These payments were considered a market purchase of the health service by the governments that were treated as final consumption expenditure. 

During the 2015 year base estimates of the National Accounts, the delegated task force for this topic, represented by the Ministry of Health and Social Protection and the National Statistics Institute, this treatment was revised, defining as buyer of health insurance to the households because they receive health benefits (indemnities) instead of the government. As a consequence of this treatment, the resources that were included as final consumption expenditures of government in the national accounts of the year base 2005, are now considered final consumption expenditure of households

The series reside in the historical catalog (Colombia » National Accounts » by Expenditure » Quarterly » Ref 2015 » Current Prices) and are:

  • NALEFCHNCQ.ICOL = National accounts: Expenditure approach - Final consumption expenditure - Households and NPISHs [P.311; P.313; P.323], (Bil. COP, CDASA)
  • NALEFCGGCQ.ICOL = General government [P.312; P.322]

Because catalog locations are subject to change, the upper-right search box on DataBuffet.com provides a "find in catalog" mode that accepts a mnemonic.

See also

Related ReleaseGDP - Current and Constant Prices
SourceNational Administrative Department of Statistic (DANE) - Colombia
Release DateReference date
15 May 20201Q 2020