HERMREG database, cooperation project between the FPB (Federal Planning Bureau), SV (Statistics Flanders), IWEPS (Walloon Institute for Evaluation, Forecasts and Statistics), BISA (Brussels Institute for Statistics and Analysis), Statbel, INR, processed by Statistics Flanders
Labour productivity: a measure of the efficiency of the labour used. It represents the ratio of gross domestic product (GDP) to employment in a given country or region.
Gross domestic product (GDP): is calculated by adding the taxes on production and imports to the gross value added at basic prices to and by deducting product-related subsidies for production and imports.
Specific ESA 2010 terminology:
(1) Production (prices excluding transport costs if invoiced separately and including any transport margin)
(2) Intermediate consumption at purchase prices (without deductible VAT, including any non-deductible VAT).
(3) = (1) - (2) Gross value added at factor cost
(4) Non-product-linked taxes (taxes on land use, buildings, environmental taxes, etc.).
(5) Non-product-linked subsidies (subsidies for labour, subsidies for environmental protection, etc.).
(6) = (3) + (4) - (5) gross value added at base prices.
(7) Product-linked taxes (VAT, import taxes and duties, excise duties).
(8) Product-linked subsidies (imports and other subsidies).
(9) = (6) + (7) - (8) gross domestic product at market prices
Employment: covers both salaried and self-employed employment in a country or region, defined according to the ESA 2010.
Expressing the values in purchasing power standards adjusts for the differences in purchasing power between countries. The data for the Belgian Regions were estimated by applying Belgian purchasing power parities.
For the Belgian Regions, data which have been corrected for commuting, are also calculated by using the residence-workplace commuting matrices taken from the European Labour Force Survey.
Remarks on quality
Gross domestic product for Belgium and the Regions is compiled by the National Institute of Accounts on the basis of a wide range of sources. For companies, their annual financial accounts and the VAT and National Social Security Office (NSSO) data are an important source. And for public bodies, the public accounts are used. The calculations are made according to the ESA 2010 methodology and are internationally accepted. The data are transmitted to Eurostat, which uses them to compile the series in purchasing power parities.
The output of the National Institute of Accounts is the source of the HERMREG model's medium-term projections. These are calculated by means of econometric estimates by the Federal Planning Bureau and the three regional institutions. The figures for the regions are converted by Statistics Flanders into euro purchasing power parities. The HERMREG output is always submitted to a Steering Committee in which the Federal Planning Bureau and the Regions are represented.
FPB, SV, IWEPS, BISA: Regional economic outlook
Institute of National Accounts (INR): Regional accounts
European Commission: Ameco