National Institute of Statistics, Italy

Data source(s) used: Compensation of employees, wages and salaries and social security contributions:Compensation of employees (D1) is defined as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of employees is broken down into: wages and salaries (D11): wages and salaries in cash; wages and salaries in kind; employers’ social contributions (D12): employers’ actual social contributions (D121); employers’ imputed social contributions (D122).Gross value added: Gross value added is the value of output less the value of intermediate consumption; it is a measure of the contribution to the economic growth in terms of new goods and services available for final consumption.Gross value added at basic prices: Gross value added at basic prices is output valued at basic prices less intermediate consumption valued at purchasers’ prices. The basic price is the amount receivable by the producer from the purchaser for a unit of a product or service minus any tax on the product plus any subsidy on the product.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Compensation of employees, wages and salaries and social security contributions:Compensation of employees (D1) is defined as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of employees is broken down into: wages and salaries (D11): wages and salaries in cash; wages and salaries in kind; employers’ social contributions (D12): employers’ actual social contributions (D121); employers’ imputed social contributions (D122).Gross value added: Gross value added is the value of output less the value of intermediate consumption; it is a measure of the contribution to the economic growth in terms of new goods and services available for final consumption.Gross value added at basic prices: Gross value added at basic prices is output valued at basic prices less intermediate consumption valued at purchasers’ prices. The basic price is the amount receivable by the producer from the purchaser for a unit of a product or service minus any tax on the product plus any subsidy on the product.Gross value added at producers' prices: Gross value added at producers’ prices is output valued at producers’ prices less intermediate consumption valued at purchasers’ prices. The producer price is the amount receivable by the producer from the purchaser for a unit of a product minus value added tax (VAT), or similar deductible tax, invoiced to the purchaser.Gross value added at factor cost: Gross value added at factor cost is derived from GVA at basic prices by subtricting other taxes on production and adding other subsidies on production.Output: Output consists of the products created during the accounting period. Three types of output are distinguished: market output; output produced for own final use; other non-market output.Output at basic prices: Output is at basic prices when it is valued by subtricting taxes on products and including subsidies on products.Output at producers' prices: Output at producers' prices is the output at basic prices plus taxes on products, excluding VAT, and minus subsidies on products.Output at factor cost: Output at factor cost is valued by subtracting taxes and including subsidies.Taxes on production and on products (except VAT and import taxes):they consist of compulsory, unrequited payments, in cash or in kind which are levied by general government, or by the Institutions of the European Union, in respect of the production of goods and services, the employment of labour, the ownership or use of land, buildings or other assets used in production. These taxes are payable whether or not profits are made.Subsidies on products and on production: are current unrequited payments that government units, including non-resident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services which they produce, sell or import.

Data source(s) used: Compensation of employees, wages and salaries and social security contributions:Compensation of employees (D1) is defined as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of employees is broken down into: wages and salaries (D11): wages and salaries in cash; wages and salaries in kind; employers’ social contributions (D12): employers’ actual social contributions (D121); employers’ imputed social contributions (D122).Gross value added at basic prices: Gross value added at basic prices is output valued at basic prices less intermediate consumption valued at purchasers’ prices. The basic price is the amount receivable by the producer from the purchaser for a unit of a product or service minus any tax on the product plus any subsidy on the product.

Data source(s) used: Gross fixed capital formation:consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy). In the next months, the transition to the new nomenclatures will be completed with the quarterly time series, the regional accounts, and the accounts by institutional sector.Gross fixed capital formation: Gross fixed capital formation consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units.Consumption of fixed capital: Consumption of fixed capital represents the amount of fixed assets used up, during the period under consideration, as a result of normal wear and tear and foreseeable obsolescence, including a provision for losses of fixed assets as a result of accidental damage which can be insured against.Gross capital stock: Gross capital stock refers to the cumulative flow of volume investments, corrected for retirement. In the gross stock, assets are treated as new until they are retired: it is assumed that they retain their full productive capacity until removed from the stock.Net capital stock: Net capital stock is the sum of the written-down values of all the fixed assets still in use; it can also be described as the difference between gross capital stock and consumption of fixed capital.