Definition: Regional accounts
European System of Accounts (ESA)
Regional specification of the corresponding accounts of the national economy. Regional accounts provide a regional breakdown for major aggregates such as gross value added by industry and household income (ESA 2010).
Regional accounts are a regional specification of the corresponding accounts of the total economy. The regional accounts make use of the concepts used for the accounts of the total economy unless indicated otherwise in this section.
A full set of accounts at the regional level implies treating each region as a separate economic entity. In this context, transactions with other regions become a kind of external transactions. External transactions of the region should of course, be distinguished according to transactions with other regions of the country and transactions with the rest of the world.
Conceptual difficulties partly explain why regional accounts are limited to recording production activities by industry and to accounts for some institutional sectors like households (ESA 1995).
Source:
Eurostat, "European System of National and Regional Accounts - ESA 2010", Luxembourg, 2013
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