National Accounts

FBoS Release No: 66, 2017

1st November 2017


The income approach to measuring GDP sums the incomes generated by the production process. Income is generated for different institutional units in the economy during the production process, for instance through the sale of materials for use as inputs by other establishments, receipts by owners for the use of their capital and the net tax receipts by government. Hence GDP can be calculated as a sum of Compensation of Employees (COE), Gross Operating Surplus/Mixed Income (GOS/MI) and Net taxes on Production and Imports.

The 2016 estimate of $9.8 billion is made up of the following components:

  1. Gross Operating Surplus/Mixed Income (GOS/MI) - $4.9 billion (50.0%);
  2. Compensation of Employees (COE) - $2.8 billion (29.1%); and
  3. Net taxes on Production and Imports (Net taxes on product plus other net taxes on production) - $2.0 billion (20.9%).

Graph 1 below shows the movements in the components of GDP by Income over the period 2005 to 2016.

gdp i 16a

gdp i 16b

Compensation of employees grew by 2.9 percent ($0.1 billion) in 2016 when compared to 2015. Graph 2 above shows the contribution of the different industries to the compensation of employees total. The top 5 industries in terms of contribution to total compensation of employees are Public Administration and Defence (17.9%), Education (16.4%), Transport and Storage (9.8%), Wholesale and Retail (9.0%) and Manufacturing (8.9%).
In 2016, gross operating surplus/mixed income grew by 6.7 percent ($0.3 billion) when compared to 2015. Graph 3 below shows the contribution of the different industries to the gross operating surplus/mixed income total. Agriculture (16.1%), Wholesale and Retail (15.1%), Manufacturing (14.3%), Financial and Insurance (9.4%) and Transport and Storage (8.0%).

gdp i 16c

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The following contact persons are available to attend to any further enquiries:

1. Ms. Artika Devi – Senior Statistician [National Accounts] on email or telephone 331 5822 (ext: 386 237).

2. Mr. Alivereti Tawake – Statistician [National Accounts] on email or telephone 331 5822 (ext: 386 237).