Non-financial balance sheets for the Netherlands

Murat Tanriseven

1-3 December 2010, WPNA meeting

Outline

Produced assets -Fixed assets

-Inventories

-Consumer durables

Land

Subsoil assets

Division by institutional sector

Results

Further research

Fixed assets

Perpetual Inventory Method (PIM)

Livestock for breeding,dairy and draught: direct observation

Inventories

- Materials and supplies- Work in progress- Finished goods- Goods for resale

Source: business surveys

Land

- Land underlying dwellings and nonresidential buildingsTax value of real estate (incl. land) – PIM value buildings

- Land under cultivationLand use statistics and price of agricultural land

Subsoil assets

Oil and gas reserves-Net present value method-Physical extraction scenario’s – decreasing-Resource rent (3 year average) – endogeneous

Other subsoil assets

-Infinite reserves

-Constant extraction scenario (assumption)

Consumer durables

- Same method that is used for fixed assets

- Difference: consumption of fixed capital

- Consumption that is disappeared from SUT, but is still in use by households

- 7 different categories, 22.000 euro per household

Division into institutional sectors

- Fixed assets: ratio of production per date of construction

- Inventories: ratio of production and use

- Land: ratio of dwellings and non-residential buildings

- Subsoil assets: government sector

- Consumer durables: households sector

Results (1)1996 2000 2005 2008

Billion €

Fixed assets 1052 1302 1651 1892

Inventories 55 68 73 91

Land 264 753 1037 1233

Subsoil assets

68 71 110 177

Consumer durables

98 126 146 157

All assets 1537 2320 3017 3550

Results (2)

2008, billion € S.11 S.12 S.13 S.14 S.15 S.1

Fixed assets 709 35 349 796 2 1892

Inventories 83 0 0 8 0 92

Land 339 22 60 812 1 1234

Subsoil assets 177 177

Consumer durables

157 157

All assets 1131 57 586 1773 3 3550

Results: Country comparison, 2008

Nether-lands

France Japan Canada Australia

Dwellings 28% 30% 10% 23% 21%

Non-residential buildings

20% 15% 29% 19% 19%

Inventories 3% 3% 4% 4% 2%

Non-produced assets

42% 45% 49% 48% 48%

Other fixed assets

7% 7% 8% 6% 10%

Further research

-Estimations for other natural assets

-Improved connection with sector accounts