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The 2001-2004 revisions of the Income and Expenditure Accounts

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Table 4: Revisions to expenditure aggregates at current prices
  Initial estimate1 Previous estimate2 Revised estimate3 Current revision4 Current revision5 Cumulative revision6 Proportion of GDP7
Reference period millions of dollars % % %
Personal expenditure on consumer goods and services
2001
619,860
622,903
620,614
-2,289
-0.4
0.1
56.0
2002
651,192
657,302
656,349
-953
-0.1
0.8
56.9
2003
689,419
688,707
687,791
-916
-0.1
-0.2
56.6
2004
722,631
722,631
721,235
-1,396
-0.2
-0.2
55.9
Government current expenditure on goods and services
2001
199,683
211,115
211,706
591
0.3
6.0
19.1
2002
214,174
223,677
223,905
228
0.1
4.5
19.4
2003
231,003
237,711
236,631
-1,080
-0.5
2.4
19.5
2004
249,771
249,771
248,534
-1,237
-0.5
-0.5
19.3
Government gross fixed capital formation
2001
26,410
26,993
27,287
294
1.1
3.3
2.5
2002
29,233
29,617
29,732
115
0.4
1.7
2.6
2003
32,144
31,501
30,953
-548
-1.7
-3.7
2.5
2004
32,702
32,702
33,091
389
1.2
1.2
2.6
Government investment in inventories
2001
13
13
13
0
...
...
...
2002
-45
-45
-45
0
...
...
...
2003
15
15
15
0
...
...
...
2004
21
21
21
0
...
...
...
Business investment in residential structures
2001
51,659
55,140
55,133
-7
0.0
6.7
5.0
2002
63,103
65,829
65,712
-117
-0.2
4.1
5.7
2003
73,016
73,757
72,971
-786
-1.1
-0.1
6.0
2004
84,470
84,470
83,557
-913
-1.1
-1.1
6.5
Business investment in non-residential structures
2001
51,956
52,927
52,966
39
0.1
1.9
4.8
2002
50,024
49,686
49,987
301
0.6
-0.1
4.3
2003
49,844
51,155
53,883
2,728
5.3
8.1
4.4
2004
54,243
54,243
57,139
2,896
5.3
5.3
4.4
Business investment in machinery and equipment
2001
84,728
82,558
81,879
-679
-0.8
-3.4
7.4
2002
84,380
82,313
80,150
-2,163
-2.6
-5.0
6.9
2003
82,187
80,963
80,266
-697
-0.9
-2.3
6.6
2004
85,641
85,641
85,171
-470
-0.5
-0.5
6.6
Business investment in inventories
2001
-6,022
-6,270
-4,740
1,530
...
...
-0.4
2002
2,672
-568
-1,301
-733
...
...
-0.1
2003
7,563
7,662
7,239
-423
...
...
0.6
2004
7,219
7,219
7,758
539
...
...
0.6
Exports of goods and services
2001
469,355
483,053
482,463
-590
-0.1
2.8
43.5
2002
470,114
479,358
478,071
-1,287
-0.3
1.7
41.4
2003
459,561
461,596
461,266
-330
-0.1
0.4
37.9
2004
494,519
494,519
492,580
-1,939
-0.4
-0.4
38.2
Imports of goods and services
2001
413,812
419,508
418,836
-672
-0.2
1.2
37.8
2002
423,096
428,248
427,679
-569
-0.1
1.1
37.1
2003
409,993
413,611
414,370
759
0.2
1.1
34.1
2004
437,404
437,404
438,346
942
0.2
0.2
34.0
1 For annual data, the initial estimate is from the fourth quarter of the corresponding year.
2 For 2001, 2002 and 2003, the previous estimate is the one released with the first quarter of 2004, while for 2004 it is from the fourth quarter issue of 2004.
3 The revised estimates are the result of the 2005 revisions.
4 The current revision is the revised estimate less the previous estimate.
5 The current percentage revision is the current revision as a percentage of the previous estimate.
6 The cumulative percentage revision is the revised estimate less the initial estimate as a percentage of the initial estimate.
7 The revised estimate of the component as a percentage of the revised GDP estimate.
Date Modified: 2007-05-09

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