List of Components of National Current Account

1. - Net national income

This refers to the balance of primary income plus a statistical discrepancy. 'Primary income' includes incomes that accrue to institutional units as a consequence of their involvement in processes of production or ownership of assets that may be needed for purposes of production. A major item of primary income is compensation of employees that represents the income accruing to individuals in return for their labour input into production processes. Property income is that part of primary income that accrues by lending or renting financial or natural resources, including land, to other units for use in production. Receipts from taxes on production and imports (less subsidies on production and imports) are treated as primary incomes of governments even though not all of them may be recorded as payable out of the value-added of enterprises. Primary incomes do not include the payments of social contributions to social insurance schemes and the receipt of benefits from them, current taxes on income, wealth, etc. and other current transfers.