REGIONAL NATIONAL ACCOUNTS (Gross Value Added, GDP and Compensation of Employees)

NOTES ON METHODOLOGY

Sources and methods of data collection

Data sources for the calculation of the gross value added (GVA) and the gross domestic product (GDP) are the national accounts data, annual business statistics surveys, economic accounts for agriculture, annual data on persons in employment and earnings, annual data of the Croatian Institute for Pension Insurance on the number of insured persons and various other statistical data.

Coverage

The calculation covers all activities following the concept of the System of National Accounts (SNA 2008) and the European System of National and Regional Accounts (ESA 2010).

Definitions

Regional accounts are a subsystem of national accounts in which the Republic of Croatia, units according to the National Classification of Statistical Regions 2021 (HR_NUTS 2021) at the level of HR NUTS 2, and at the level of counties (NN, No. 125/19) are the main subjects of observation.

GDP at market prices is the sum of values added by activities, including items at the level of the national economy that are not classified by activities, such as taxes on products less subsidies on products.

GVA and GDP for the Republic of Croatia, according to the HR_NUTS 2021 – HR NUTS 2 and at the level of counties are calculated by using the indirect method. The national GVA figures by activities were allocated according to the HR_NUTS 2021 – HR NUTS 2, and at the level of counties applying adequate allocation keys.

GDP per capita in purchasing power standards (PPS) is an indicator that measures the economic development of EU's regions as a percentage of the EU average (EU-27 = 100). It shows how much a region is more or less developed than the average EU development or the general level of economic development of a particular region. It is expressed by the purchasing power standard, which is an artificial currency unit that eliminates the differences between price levels between countries.

Compensation of employees (D1) includes all income in cash or in kind that employees have received as compensation for their work and all employers' social contributions. The calculation of the regional compensation of employees at current prices is based on allocating the national value of the compensation of employees by activities according to the HR_NUTS 2021 – HR NUTS 2 applying adequate allocation keys.

Find out more about the regional gross fixed capital formation at PC-Axis databases (section GDP and National Accounts – Fixed Assets).