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Methodological explanation for the news release:

Gross domestic product and gross fixed capital formation, by region

For preparation of the regional accounts (Gross domestic product and gross fxed capital formation), the bases of the concept of national accounts are used, but there are signifcant conceptual and practical specifcities for compiling the set of accounts at the regional level.

Data by regions are obtained by estimation done on the basis of available data in the State Statistical Offce and in accordance with Eurostat’s manual - Regional accounts methods (Gross value added and gross fxed capital formation by activity).

When the gross domestic product is allocated by regions and activity, mainly the “pseudo-top down method” - indirect method is used. The distribution of the value added is done on the already calculated value by production approach by economic activity at the national level using indicators for each activity by regions, while for taxes and excises an adequate proportion is used.

The main data source used for regionalization of Gross fxed capital formation (GFCF) is the annual survey on investment of Business entities and Entities in the Sector State (INV. 01), the commodity fow method and entities without status of legal persons.Distribution of regional GFCF is based on the mixed method.

The majority of GFCF that refers to business and state entities is allocated by the bottom-up method, while for the other part appropriate indicators and proportions are used.

The value of fxed capital formation is distributed according to the residency of the business entity and activity of investment i.e. based on the kind-of-activity principle. However, it is possible that, in some regions, the value of fxed capital formation is overestimated or underestimated due to the lack of information and data that are provided at the level of the so-called organizational principle.

In 2014 a new international standard of the European System of National and Regional Accounts – ESA 2010 (Commission Regulation (EU) No. 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union) came into force, which provides the legal basis for calculation and transmission of data to the Statistical Office of the European Union.
Data on regional GVA and GFCF for the period 2010-2012 have been revised in line with the European System of National and Regional Accounts – ESA 2010, which came into force at the beginning of September 2014. More information on the introduction of ESA 2010 is available on the website.

Last updated: 02.12.2014


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