Chapter

Appendix 8. GFS Classifications

Author(s):
Sage De Clerck, and Tobias Wickens
Published Date:
March 2015
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This appendix provides all of the classification codes used in the GFS framework.

A8.1 Classification codes are used in the GFS system to identify types of transactions, other economic flows, and stock positions of assets and liabilities. This appendix presents in one place all of the codes that were presented in Chapters 5 through 10. The overall organization of the codes is shown in Figure A8.1.

Figure A8.1The Classification Coding System for GFS

1 Classification of the Functions of Government

A8.2 Codes beginning with 1 refer to revenue; codes beginning with 2 refer to expense; and codes beginning with 3 refer to transactions in nonfinancial assets, financial assets, and liabilities. For financial assets and liabilities, the code 3 signifies transactions that have been classified by financial instrument.

A8.3 The first digit of the classification code for a specific type of other economic flow is 4 or 5: codes beginning with 4 refer to holding gains and losses, while codes beginning with 5 refer to other changes in the volume of assets and liabilities. The first digit for total other economic flows is 9. For a stock position in a type of asset or liability, the first digit of the classification code is 6.

A8.4 Codes for transactions, other economic flows, and stock positions in assets and liabilities also identify types of assets and liabilities. Hence, the second and subsequent digits of each code are identical for each type of asset or liability. That is, 311 refers to transactions in fixed assets, 411 to holding gains in fixed assets, 511 to other changes in the volume of fixed assets, 911 to total other economic flows in fixed assets, and 611 to the stock position of fixed assets.

A8.5 Expense transactions and transactions in non-financial assets (i.e., expenditure) can also be classified using the Classification of Functions of Government (COFOG), as described in the annex to Chapter 6. All COFOG classification codes begin with 7.

A8.6 Transactions and stock positions in financial assets and liabilities can be classified according to the residence and institutional sector of the other party to the financial instrument, as well as according to the type of financial instrument. When classified by residence and institutional sector of the counterparty, the classification codes for transactions begin with 8 and the classification codes for stock positions begin with 68. The counterparty to the transactions is not necessarily the same as the counterparty to the stock positions. While the parties are the same at the inception of the instrument, they may differ for transactions in that instrument. As explained in paragraph 9.25, in principle, the classification of general government units’ transactions in financial assets and liabilities by residence is based on the residence of the units that were a party to the transaction being recorded, whereas the classification of stock positions in financial assets and liabilities in a government unit’s balance sheet is based on the residence of the issuer of financial instruments (assets), and the residence of the holder of the financial instruments (liabilities). If a transaction in financial assets or liabilities is between a resident and a nonresident unit that involves an instrument originally issued by a resident, an entry in other changes in the volume of assets (reclassification) is recorded to maintain the integrated GFS framework of flows and stock positions.

A8.7 In this appendix, the classification codes are presented in Tables A8.1A8.6, which illustrate the standard presentation of these items in GFS. In practical applications, this standard presentation could be used to select subsets of data for various presentational formats. It may also be possible and desirable to use more detailed classifications. Such an expansion can be accomplished by adding another digit to any given classification code. For example, the classification code for the stock of transport equipment is 61121. If types of transport equipment were to be classified separately, the codes 611211, 611212, and so forth could be used.

Table A8.1Classification of Revenue
1Revenue
11Taxes
111Taxes on income, profits, and capital gains
1111Payable by individuals
1112Payable by corporations and other enterprises
1113Other taxes on income, profits, and capital gains
11131Payable by general government
11132Unallocable taxes on income, profits, and capital gains
112Taxes on payroll and workforce
113Taxes on property
1131Recurrent taxes on immovable property
1132Recurrent taxes on net wealth
1133Estate, inheritance, and gift taxes
1135Capital levies
1136Other recurrent taxes on property
114Taxes on goods and services
1141General taxes on goods and services
11411Value-added taxes
11412Sales taxes
11413Turnover and other general taxes on goods and services
11414Taxes on financial and capital transactions
1142Excise
1143Profits of fiscal monopolies
1144Taxes on specific services
1145Taxes on use of goods and on permission to use goods or perform activities
11451Motor vehicle taxes
11452Other taxes on use of goods and on permission to use goods or perform activities
114521Business and professional licenses
114522Pollution taxes
114523Radio and television licenses
114524Licenses and permits for households
114525Other taxes on use of goods and on permission to use goods or perform activities not elsewhere classified
1146Other taxes on goods and services
115Taxes on international trade and transactions
1151Customs and other import duties
1152Taxes on exports
1153Profits of export or import monopolies
1154Exchange profits
1155Exchange taxes
1156Other taxes on international trade and transactions
116Other taxes
1161Payable solely by business
1162Payable by other than business or unidentifiable
12Social contributions [GFS]
121Social security contributions [GFS]
1211Employee contributions [GFS]
1212Employer contributions [GFS]
1213Self-employed or nonemployed contributions [GFS]
1214Unallocable contributions [GFS]
122Other social contributions [GFS]
1221Employee contributions [GFS]
1222Employer contributions [GFS]
1223Imputed contributions [GFS]
13Grants
131From foreign governments
1311Current
1312Capital
132From international organizations
1321Current
1322Capital
133From other general government units
1331Current
1332Capital
14Other revenue
141Property income [GFS]
1411Interest [GFS]
14111From nonresidents
14112From residents other than general
government
14113From other general government
units
1412Dividends
14121From nonresidents
14122From residents
1413Withdrawals of income from
quasi-corporations
1414Property income from investment
income disbursements
1415Rent
1416Reinvested earnings on foreign direct investment
142Sales of goods and services
1421Sales by market establishments
1422Administrative fees
1423Incidental sales by nonmarket
establishments
1424Imputed sales of goods and services
143Fines, penalties, and forfeits
144Transfers not elsewhere classified
1441Current transfers not elsewhere
classified
14411Subsidies
14412Other current transfers not
elsewhere classified
1442Capital transfers not elsewhere
classified
145Premiums, fees, and claims related to
nonlife insurance and standardized
guarantee schemes
1451Premiums, fees, and current claims receivable
14511Premiums receivable
14512Fees receivable for standardized guarantee
schemes
14513Current claims receivable
1452Capital claims receivable
Note: Further breakdown/“of which” lines may be analytically useful and could be presented as indicated in the detailed tables in Chapter 5.
Note: Further breakdown/“of which” lines may be analytically useful and could be presented as indicated in the detailed tables in Chapter 5.
Table A8.2Classification of Expense
2Expense
21Compensation of employees [GFS]
211Wages and salaries [GFS]
2111Wages and salaries in cash [GFS]
2112Wages and salaries in kind [GFS]
212Employers’ social contributions [GFS]
2121Actual employers’ social contributions [GFS]
2122Imputed employers’ social contributions [GFS]
22Use of goods and services
23Consumption of fixed capital [GFS]
24Interest [GFS]
241To nonresidents [GFS]
242To residents other than general government
[GFS]
243To other general government units [GFS]
25Subsidies
251To public corporations
2511Public nonfinancial corporations
2512Public financial corporations
252To private enterprises
2521Private nonfinancial enterprises
2522Private financial enterprises
253To other sectors
26Grants
261To foreign governments
2611Current
2612Capital
262To international organizations
2621Current
2622Capital
263To other general government units
2631Current
2632Capital
27Social benefits [GFS]
271Social security benefits [GFS]
2711Social security benefits in cash [GFS]
2712Social security benefits in kind [GFS]
272Social assistance benefits [GFS]
2721Social assistance benefits in cash [GFS]
2722Social assistance benefits in kind [GFS]
273Employment-related social benefits [GFS]
2731Employment-related social benefits in
cash [GFS]
2732Employment-related social benefits in
kind [GFS]
28Other expense
281Property expense other than interest
2811Dividends
28111To nonresidents
28112To residents
2812Withdrawals of income from
quasi-corporations
2813Property expense for investment income
disbursements
2814Rent
2815Reinvested earnings on foreign direct
investment
282Transfers not elsewhere classified
2821Current transfers not elsewhere classified
2822Capital transfers not elsewhere classified
283Premiums, fees, and claims related to nonlife
insurance and standardized guarantee schemes
2831Premiums, fees, and current claims payable
28311Premiums payable
28312Fees payable for standardized guarantee schemes
28313Current claims payable
2832Capital claims payable
Note: Further breakdown/“of which lines” may be analytically useful and could be presented as indicated in the detailed tables in Chapter 6.
Note: Further breakdown/“of which lines” may be analytically useful and could be presented as indicated in the detailed tables in Chapter 6.
Table A8.3Classifications of Flows and Stock Positions in Assets and Liabilities
Classification of transactions in assets and liabilities1Classification of holding gains and losses in assets and liabilitiesClassification of other changes in the volume of assets and liabilitiesClassification of total other economic flows in assets and liabilitiesClassification of stock positions in assets and liabilities
Net worth and its changes34596
Nonfinancial assets3141519161
Fixed assets311411511911611
Buildings and structures31114111511191116111
Dwellings3111141111511119111161111
Buildings other than dwellings3111241112511129111261112
Other structures3111341113511139111361113
Land improvements3111441114511149111461114
Machinery and equipment31124112511291126112
Transport equipment3112141121511219112161121
Machinery and equipment other than transport equipment3112241122511229112261122
Information, computer, and telecommunications (ICT) equipment311221411221511221911221611221
Machinery and equipment not elsewhere classified311222411222511222911222611222
Other fixed assets31134113511391136113
Cultivated biological resources3113141131511319113161131
Animal resources yielding repeat products311311411311511311911311611311
Tree, crop, and plant resources yielding repeat products311312411312511312911312611312
Intellectual property products3113241132511329113261132
Research and development311321411321511321911321611321
Mineral exploration and evaluation311322411322511322911322611322
Computer software and databases311323411323511323911323611323
Computer software31132314113231511323191132316113231
Databases31132324113232511323291132326113232
Entertainment, literary, and artistic originals311324411324511324911324611324
Other intellectual property products311325411325511325911325611325
Cost of ownership transfer on nonproduced assets other than land311335113391133
Weapons systems31144114511491146114
Inventories312412512912612
Materials and supplies3122141221512219122161221
Work in progress3122241222512229122261222
Finished goods3122341223512239122361223
Goods for resale3122441224512249122461224
Military inventories3122541225512259122561225
Valuables313413513913613
Nonproduced assets314414514914614
Land31414141514191416141
Mineral and energy resources31424142514291426142
Other naturally occurring assets31434143514391436143
Noncultivated biological resources3143141431514319143161431
Water resources3143241432514329143261432
Other natural resources3143341433514339143361433
Radio spectrum314331414331514331914331614331
Natural resources not elsewhere classified314332414332514332914332614332
Intangible nonproduced assets31444144514491446144
Contracts, leases, and licenses3144141441514419144161441
Marketable operating leases314411414411514411914411614411
Permits to use natural resources314412414412514412914412614412
Permits to undertake specific activities314413414413514413914413614413
Entitlement to future goods and services on an exclusive basis314414414414514414914414614414
Goodwill and marketing assets3144241442514429144261442
Financial assets3242529262
Monetary gold and Special Drawing Rights (SDRs)32014201520192016201
Monetary gold3201142011520119201162011
Special Drawing Rights3201242012520129201262012
Currency and deposits32024202520292026202
Debt securities32034203520392036203
Loans32044204520492046204
Equity and investment fund shares32054205520592056205
Equity3205142051520519205162051
Investment fund shares or units3205242052520529205262052
Insurance, pension, and standardized guarantee schemes [GFS]32064206520692066206
Nonlife insurance technical reserves3206142061520619206162061
Life insurance and annuities entitlements3206242062520629206262062
Pension entitlements [GFS]3206342063520639206362063
Claims of pension funds on pension manager3206442064520649206462064
Provisions for calls under standardized guarantee schemes3206542065520659206562065
Financial derivatives and employee stock options32074207520792076207
Financial derivatives3207142071520719207162071
Employee stock options3207242072520729207262072
Other accounts receivable32084208520892086208
Trade credit and advances3208142081520819208162081
Miscellaneous other accounts receivable3208242082520829208262082
Domestic321421521921621
Same instrument breakdown as above, but excluding monetary gold for all flows and stock positions and SDRs for stock positions3211–32184211–42185211–52189211–92186212–6218
External322422522922622
Same instrument breakdown as above3221–32284221–42285221–52289221–92286221–6228
Liabilities3343539363
Special Drawing Rights (SDRs)33014301530193016301
Currency and deposits33024302530293026302
Debt securities33034303530393036303
Loans33044304530493046304
Equity and investment fund shares33054305530593056305
Equity3305143051530519305163051
Investment fund shares or units3305243052530529305263052
Insurance, pension, and standardized guarantee schemes [GFS]33064306530693066306
Nonlife insurance technical reserves3306143061530619306163061
Life insurance and annuities entitlements3306243062530629306263062
Pension entitlements [GFS]3306343063530639306363063
Claims of pension funds on pension manager3306443064530649306463064
Provisions for calls under standardized guarantee schemes3306543065530659306563065
Financial derivatives and employee stock options33074307530793076307
Financial derivatives3307143071530719307163071
Employee stock options3307243072530729307263072
Other accounts payable33084308530893086308
Trade credit and advances3308143081530819308163081
Miscellaneous other accounts payable3308243082530829308263082
Domestic331431531931631
Same instrument breakdown as above, but excluding SDRs3312–33184312–43185312–53189312–93186312–6318
External332432532932632
Same instrument breakdown as above3321–33284321–43285321–53289321–93286321–6328
Memorandum items
Own-account capital formation3M1
Compensation of employees3M11
Use of goods and services3M12
Consumption of fixed capital3M13
Other taxes on production minus other subsidies on production3M14
Net financial worth3M24M25M29M26M2
Gross debt:
Gross debt at market value3M34M35M39M36M3
Gross debt at nominal value3M44M45M49M46M4
Gross debt at face value3M356M35
Net debt:
Net debt at market value3M364M365M369M366M36
Net debt at nominal value3M374M375M379M376M37
Net debt at face value3M386M38
Concessional loans:
Concessional loans at nominal value6M391
Implicit transfers resulting from loans at concessional interest rates6M392
Arrears6M5
Explicit contingent liabilities:6M6
Publicly guaranteed debt6M61
Other one-off guarantees6M62
Net implicit obligations for future social security benefits6M7
Nonperforming loan assets
Nonperforming loan assets at fair value6M8
Nonperforming loan assets at nominal value6M81

Transactions in each category of nonfinancial assets may be further distinguished as acquisitions, disposals, and consumption of fixed capital (see Table 8.1).

Transactions in each category of nonfinancial assets may be further distinguished as acquisitions, disposals, and consumption of fixed capital (see Table 8.1).

Table A8.4Classifications of the Counterparty of Transactions and Stock Positions in Financial Assets and Liabilities by Institutional Sector
Classification of transactions in financial assets and liabilities1Classification of stock positions in financial assets and liabilities1
Change in net financial worth due to transactions / net financial worth868 (=6)
Financial assets82 (=32)682 (=62)
Domestic debtors821 (=321)6821 (=621)
General government821168211
Central bank821268212
Deposit-taking corporations except the central bank821368213
Public deposit-taking corporations except the central bank82131682131
Private deposit-taking corporations82132682132
Other financial corporations821468214
Other public financial corporations82141682141
Other private financial corporations82142682142
Nonfinancial corporations821568215
Public nonfinancial corporations82151682151
Private nonfinancial corporations82152682152
Households and nonprofit institutions serving households821668216
External debtors822 (=322)6822(=622)
General government822168221
International organizations822768227
Financial corporations other than international organizations822868228
Central banks82281682281
Financial corporations not elsewhere classified82282682282
Other nonresidents822968229
Liabilities83 (=33)683 (=63)
Domestic creditors831 (=331)6831 (=631)
General government831168311
Central bank831268312
Deposit-taking corporations except the central bank831368313
Public deposit-taking corporations except the central bank83131683131
Private deposit-taking corporations83132683132
Other financial corporations831468314
Other public financial corporations83141683141
Other private financial corporations83142683142
Nonfinancial corporations831568315
Public nonfinancial corporations83151683151
Private nonfinancial corporations83152683152
Households and nonprofit institutions serving households831668316
External creditors832 (=332)6832(=632)
General government832168321
International organizations832768327
Financial corporations other than international organizations832868328
Central banks83281683281
Financial corporations not elsewhere classified83282683282
Other nonresidents832968329
Note: Transactions in monetary gold are classified according to the counterparty involved. Although gold bullion has no counterparty, by convention, the counterparty to the stock position in gold bullion is shown as “other nonresidents” in this table.

The counterparty to the transactions is not necessarily the same as the counterparty to the stock positions. While the parties are the same at the inception of the instrument, they may differ for transactions in that instrument. As explained in paragraph 9.25, in principle, the classification of general government units’ transactions in financial assets and liabilities by residence is based on the residence of the units that were a party to the transaction being recorded, whereas the classification of stock positions in financial assets and liabilities in a government unit’s balance sheet is based on the residence of the issuer of financial instruments (assets), and the residence of the holder of the financial instruments (liabilities). If a transaction in financial assets or liabilities is between a resident and a nonresident unit that involves an instrument originally issued by a resident, an entry in other changes in the volume of assets (reclassification) is recorded to maintain the integrated GFS framework of stock positions and flows.

Note: Transactions in monetary gold are classified according to the counterparty involved. Although gold bullion has no counterparty, by convention, the counterparty to the stock position in gold bullion is shown as “other nonresidents” in this table.

The counterparty to the transactions is not necessarily the same as the counterparty to the stock positions. While the parties are the same at the inception of the instrument, they may differ for transactions in that instrument. As explained in paragraph 9.25, in principle, the classification of general government units’ transactions in financial assets and liabilities by residence is based on the residence of the units that were a party to the transaction being recorded, whereas the classification of stock positions in financial assets and liabilities in a government unit’s balance sheet is based on the residence of the issuer of financial instruments (assets), and the residence of the holder of the financial instruments (liabilities). If a transaction in financial assets or liabilities is between a resident and a nonresident unit that involves an instrument originally issued by a resident, an entry in other changes in the volume of assets (reclassification) is recorded to maintain the integrated GFS framework of stock positions and flows.

Table A8.5.Classification of Debt Liabilities and Financial Assets Corresponding to Debt Instruments by Maturity and by Type of Debt Instrument
Long-term by original maturity
Short-term, by original maturity1With payment due in one year or lessWith payment due in more than one year = Long-term by remaining maturityTotalShort-term by remaining maturity
(a)(b)(c)(b) + (c)(a) + (b)
Financial assets corresponding to debt instruments62.162.262.362.462.5
Monetary gold and Special Drawing Rights (SDRs)6201.16201.26201.36201.46201.5
Monetary gold62011.162011.262011.362011.462011.5
Special Drawing Rights62012.162012.262012.362012.462012.5
Currency and deposits6202.16202.26202.36202.46202.5
Debt securities6203.16203.26203.36203.46203.5
Loans6204.16204.26204.36204.46204.5
Insurance, pension, and standardized guarantee6206.16206.26206.36206.46206.5
schemes [GFS]
Nonlife insurance technical reserves62061.162061.262061.362061.462061.5
Life insurance and annuities entitlements62062.162062.262062.362062.462062.5
Pension entitlements [GFS]62063.162063.262063.362063.462063.5
Claims of pension funds on pension manager62064.162064.262064.362064.462064.5
Provisions for calls under standardized62065.162065.262065.362065.462065.5
guarantee schemes
Other accounts receivable6208.16208.26208.36208.46208.5
Trade credit and advances62081.162081.262081.362081.462081.5
Miscellaneous other accounts receivable62082.162082.262082.362082.462082.5
Domestic621.1621.2621.3621.4621.5
Same instrument breakdown as above, but6212.1–6212.2–6212.3–6212.4–6212.5–
excluding monetary gold and SDRs6218.16218.26218.36218.46218.5
External622.1622.2622.3622.4622.5
Same instrument breakdown as above6221.1–6221.2–6221.3–6221.4–6221.5–
6228.16228.26228.36228.46228.5
Debt instruments (= gross debt)63.163.263.363.463.5
Special Drawing Rights (SDRs)6301.16301.26301.36301.46301.5
Currency and deposits6302.16302.26302.36302.46302.5
Debt securities6303.16303.26303.36303.46303.5
Loans6304.16304.26304.36304.46304.5
Insurance, pension, and standardized guarantee6306.16306.26306.36306.46306.5
schemes [GFS]
Nonlife insurance technical reserves63061.163061.263061.363061.463061.5
Life insurance and annuities entitlements63062.163062.263062.363062.463062.5
Pension entitlements [GFS]63063.163063.263063.363063.463063.5
Claims of pension funds on pension manager63064.163064.263064.363064.463064.5
Provisions for calls under standardized63065.163065.263065.363065.463065.5
guarantee schemes
Other accounts payable6308.16308.26308.36308.46308.5
Trade credit and advances63081.163081.263081.363081.463081.5
Miscellaneous other accounts payable63082.163082.263082.363082.463082.5
Domestic631.1631.2631.3631.4631.5
Same instrument breakdown as above, but6312.1–6312.2–6312.3–6312.4–6312.5–
excluding SDRs6318.16318.26318.36318.46318.5
External632.1632.2632.3632.4632.5
Same instrument breakdown as above6321.1–6321.2–6321.3–6321.4–6321.5–
6328.16328.26328.36328.46328.5

This category includes arrears and interest on arrears.

This category includes arrears and interest on arrears.

Table A8.6Classification of Expenditure by Functions of Government According to Divisions and Groups
7Total expenditure
701General public services
7011Executive and legislative organs, financial and
fiscal affairs, external affairs
7012Foreign economic aid
7013General services
7014Basic research
7015R&D General public services
7016General public services n.e.c.
7017Public debt transactions
7018Transfers of a general character between different
levels of government
702Defense
7021Military defense
7022Civil defense
7023Foreign military aid
7024R&D Defense
7025Defense n.e.c.
703Public order and safety
7031Police services
7032Fire protection services
7033Law courts
7034Prisons
7035R&D Public order and safety
7036Public order and safety n.e.c.
704Economic affairs
7041General economic, commercial, and labor affairs
7042Agriculture, forestry, fishing, and hunting
7043Fuel and energy
7044Mining, manufacturing, and construction
7045Transport
7046Communication
7047Other industries
7048R&D Economic affairs
7049Economic affairs n.e.c.
705Environmental protection
7051Waste management
7052Waste water management
7053Pollution abatement
7054Protection of biodiversity and landscape
7055R&D Environmental protection
7056Environmental protection n.e.c.
706Housing and community amenities
7061Housing development
7062Community development
7063Water supply
7064Street lighting
7065R&D Housing and community amenities
7066Housing and community amenities n.e.c.
707Health
7071Medical products, appliances, and equipment
7072Outpatient services
7073Hospital services
7074Public health services
7075R&D Health
7076Health n.e.c.
708Recreation, culture, and religion
7081Recreational and sporting services
7082Cultural services
7083Broadcasting and publishing services
7084Religious and other community services
7085R&D Recreation, culture, and religion
7086Recreation, culture, and religion n.e.c.
709Education
7091Pre-primary and primary education
7092Secondary education
7093Postsecondary nontertiary education
7094Tertiary education
7095Education not definable by level
7096Subsidiary services to education
7097R&D Education
7098Education n.e.c.
710Social protection
7101Sickness and disability
7102Old age
7103Survivors
7104Family and children
7105Unemployment
7106Housing
7107Social exclusion n.e.c.
7108R&D Social protection
7109Social protection n.e.c.
Note: R&D = research and development; n.e.c. = not elsewhere classified.
Note: R&D = research and development; n.e.c. = not elsewhere classified.

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