1 2021 Social Accounting Matrix for Guatemala A Nexus Project SAM 10 October 2024 International Food Policy Research Institute Nexus Project The Nexus Project is a collaboration between IFPRI and its partners, including national statistical agencies and research institutions. Our aim is to improve the quality of social accounting matrices (SAMs) used for computable general equilibrium (CGE) modeling. The Nexus Project develops toolkits and establishes common data standards, procedures, and classification systems for constructing and updating national SAMs. This addresses the need for greater transparency and consistency in SAM construction to strengthen model-based research and policy analysis in developing countries. Nexus SAMs allow for more robust cross-country comparisons of national economic structure, especially agriculture-food systems. The Nexus Project’s guiding principles are that all data should be traceable to original sources and/or assumptions, and that all SAMs should be freely available online. Greater transparency and accessibility should facilitate more data validation and participation of the modeling community. Statistics are continuously being revised and errors are often only identified when data is used for analysis, and so we welcome your suggestions on how the SAMs can be improved to reflect new and/or better information. Acknowledgements The Nexus Project receives support from the U.S. Agency for International Development, under the Policy, Evidence, Analytics, Research and Learning (PEARL) Award# 720RFS22IO00003. The work also benefits from the CGIAR Research Initiatives on Foresight and National Policies and Strategies that provide financial support for developing the SAM build frameworks. For further information, please email: IFPRI-Nexus@cgiar.org mailto:IFPRI-Nexus@cgiar.org 2 Table of Contents 1. Social Accounting Matrices .................................................................................................................... 3 2. Standard Nexus SAM Accounts............................................................................................................. 5 3. Nexus SAM Entries and General Data Sources ................................................................................... 8 4. Balancing Nexus SAMs ......................................................................................................................... 22 5. Colombia SAM and Data Sources ....................................................................................................... 23 References .................................................................................................................................................. 28 Abbreviations BACI International Trade Database at the Product-level BOPS Balance of Payments Statistics BPM6 Balance of Payments Manual, Sixth Edition CGE Computable General Equilibrium COMTRADE Commodity Trade Statistics Database FAO Food and Agriculture Organization FAOSTAT Food and Agriculture Organization’s Statistical Database GDP Gross Domestic Product GFCF Gross Fixed Capital Formation GFS Government Finance Statistics GFSM Government Finance Statistics Manual GOS Gross Operating Surplus IMF International Monetary Fund IOT Input-Output Table ISIC International Standard Industrial Classification SAM Social Accounting Matrix SNA System of National Accounts SUT Supply-Use Table TRAINS Trade Analysis Information System 3 1. Social Accounting Matrices A national SAM is an economy-wide data framework that captures the detailed economic structure of a country. A SAM is a square matrix in which each account is represented by a row and a column.1 Each cell reflects a payment from the column account to the row account, i.e., incomes appear along rows and expenditures along columns. Double-entry accounting requires that, for each account, total revenue (row total) equals total expenditure (column total). Table 1 shows an aggregate SAM, with verbal explanations in place of numbers. Activities and commodities: Nexus SAMs distinguish between “activities” (entities that carry out production) and “commodities” (representing markets for goods and non-factor services). SAM flows are valued at producer prices in activity accounts and at market prices in commodity accounts, i.e., inclusive of indirect taxes and transactions cost margins. Commodities consist of activity outputs, either exported or sold domestically, and imports. In the activity columns, payments are made to commodities (intermediate demand) and factors of production (value-added, equal to operating surplus and compensation of employees). In the commodity columns, payments are made to domestic activities, the rest of the world, and various tax accounts (for domestic and import taxes). Government income and payments: The government in a Nexus SAM is disaggregated into a core government account and various tax collection accounts. Tax accounts are necessary since otherwise the economic interpretation of certain payments becomes ambiguous. Direct payments between the government and other domestic institutions are reserved for transfers. Payments from the government to factors are captured in the government services activity. Government consumption demand is a purchase of the output from the government services activity, which in turn, pays labor. Domestic nongovernment institutions: Domestic nongovernment institutions consist of households and enterprises. Enterprises earn factor incomes (reflecting their ownership of capital) and receive transfers from other institutions. Enterprise incomes are used for corporate taxes, enterprise savings, and transfers to other institutions. Unlike households, enterprises do not demand commodities. In the SAM, enterprises are an aggregation of financial and nonfinancial corporations, as defined within the System of National Accounts (SNA). Household consumption: Nexus SAMs distinguish between home (own) consumption of activities and marketed consumption of commodities by households. Home consumption, which appears in the SAM as payments from household accounts to activity accounts, is valued at producer prices, i.e., without marketing margins and sales taxes that may be levied on marketed commodities. Final household consumption of marketed commodities appears as payments from household accounts to commodity accounts, valued at consumer prices including marketing margins and taxes. 1 For a lengthier discussion on SAMs, see Pyatt and Round (1985) and Reinert and Roland-Holst (1997). 4 Table 1: Standard Nexus Macro SAM Activities Commodi- ties Factors Enterprises Households Govern- ment Taxes Investment Rest of the World Total Activities Marketed outputs Private non- marketed consumption Activity income Commodi- ties Intermediate demand Transaction costs Private marketed consumption Government consumption Gross capital formation Exports Total demand Factors Value-added Foreign transfers to factors Factor income Enterprises Factor income to enterprises Government transfers to enterprises Foreign transfers to enterprises Enterprise income Households Factor income to households Enterprise transfers to households Government transfers to households Foreign transfers to households Household income Govern- ment Enterprise transfers to government Household transfers to government Taxes paid to government Foreign transfers to government Government income Taxes Taxes on producers Taxes on products Factor taxes Corporate taxes Household taxes Tax income Savings Enterprise savings Household savings Government savings Foreign savings Savings Rest of the World Imports Factor payments abroad Enterprise payments abroad Household payments abroad Government payments abroad Foreign exchange outflow Total Activity expenditures Total supply Factor expenditures Enterprise expenditures Household expenditures Government expenditures Tax payments Investment Foreign exchange inflow 5 2. Standard Nexus SAM Accounts Activities and commodities: Standard Nexus SAMs separate domestic production into 42 activities, as shown in Table 2.2 Each activity represents a group of industries from the International Standard Industrial Classification system (ISIC Revision 4). The 4-digit ISIC codes corresponding to each SAM activity are shown in Table A1 in the appendix. Agricultural activities are further disaggregated using the FAO’s classification system, as shown in Table A2 in the appendix. Information on production technologies comes from national input-output tables (IOT) or supply-use tables (SUT). Activities and commodities have a one-to-one mapping based on a concordance between ISIC industries and Harmonized System products (HS Version 2012).3 Table 2. Standard Nexus SAM Activities and Commodities Code Description Code Description maiz Maize text Textiles, clothing and footwear rice Rice wood Wood and paper products ocer Other cereals chem Chemicals and petroleum puls Pulses nmet Non-metal minerals oils Oilseeds metl Metals and metal products root Roots mach Machinery, equipment and vehicles vege Vegetables oman Other manufacturing sugr Sugarcane elec Electricity, gas and steam toba Tobacco watr Water supply and sewage cott Cotton and fibers cons Construction frui Fruits and nuts trad Wholesale and retail trade coff Coffee, tea and cocoa tran Transportation and storage ocrp Other crops hotl Accommodation and food services catt Cattle and raw milk comm Information and communication poul Poultry and eggs fsrv Finance and insurance oliv Other livestock real Real estate activities fore Forestry bsrv Business services fish Fisheries padm Public administration mine Mining educ Education food Processed foods heal Health and social work beve Beverage and tobacco osrv Other services Source: IFPRI Nexus 42/5/10 standard SAM structure. Factors of production: Nexus SAMs separate factors into three broad categories: labor, land and capital. Labor is further disaggregated across three education-based categories, as shown in Table 3. There is greater consistency in education categories across countries since these are based on the number of years of schooling that workers report having completed (see the notes provided in Table 3). Information on total labor value-added as a share of sectoral gross domestic product (GDP) is drawn from national IOTs or SUTs. This is disaggregated across labor subcategories 2 Nexus SAMs are aggregations of IFPRI’s detailed country SAMs, which adopt a standard classification (90 activities/commodities, 13 factors, and 15 household groups). Some SAMs are even more detailed, but all can be aggregated to the standard 90/13/15 Nexus structure (and to the 42/5/10 structure documented here). 3 The lengthy concordance between Nexus SAM commodities and HS 2012 codes are available upon request. 6 using wage and salary data as well as imputed earnings by unpaid family members as reported in household and labor force surveys (see Section 5). Capital is gross operating surplus (GOS), plus a portion of the mixed income reported in national IOTs or SUTs that is not assigned to either labor or land factors. Crop and livestock capital are paid directly to households, while capital earnings in other sectors are paid to enterprises. Table 3. Standard Nexus SAM Factors Code Description Notes lab-n Labor - low education Not finished primary schooling (i.e., 0-6 years of schooling) lab-p Labor - medium education Finished primary, but not finished secondary schooling (i.e., 7-11 years of schooling) lab-s Labor - high education Finished secondary or tertiary schooling (12+ years of schooling) lnd Land - agricultural crops Cultivated crop land cap Capital For agricultural crops (e.g., tractors, irrigation infrastructure) Source: IFPRI Nexus 42/5/10 standard SAM structure. Households: Nexus SAMs separate national populations into 10 representative household groups, as shown in Table 4. Rural and urban households are distinguished based on a country’s official definition of these areas and may vary between countries. Rural and urban households are further disaggregated into per capita consumption quintiles. Quintiles are defined at the national level, meaning that rural and urban quintiles are comparable and that the combined population of each quintile is equal to a fifth of the national population. Per capita consumption groups are not adjusted for adult-equivalency and, like national accounts, include all (most) consumption items reported in a country’s household survey (see Section 5). The latter implies that the consumption estimates and quintiles in Nexus SAMs may deviate from poverty-oriented consumption measures and groupings, since these typically use adult equivalence scales, exclude “nonessential” items (e.g., airplane tickets), and impute a “use value” for durable and semidurable assets (in addition to housing). Table 4. Standard Nexus SAM Households Code Description Notes hhd-r1 Rural - quintile 1 Rural households separated into national per capita consumption expenditure quintiles hhd-r2 Rural - quintile 2 hhd-r3 Rural - quintile 3 hhd-r4 Rural - quintile 4 hhd-r5 Rural - quintile 5 hhd-u1 Urban - quintile 1 Urban households separated into national per capita consumption expenditure quintiles hhd-u2 Urban - quintile 2 hhd-u3 Urban - quintile 3 hhd-u4 Urban - quintile 4 hhd-u5 Urban - quintile 5 Source: IFPRI Nexus 42/5/10 standard SAM structure. Other accounts: The remaining accounts in the Nexus SAMs are shown in Table 5. These include the transaction costs of moving goods between producers, domestic markets, and national borders, as well as the various indirect taxes imposed on marketed commodities. 7 Table 5. Standard Nexus SAM Accounts Code Description Notes a___ Activities See Table 2 for the list of activity accounts c___ Commodities See Table 2 for the list of commodity accounts f___ Factors See Table 3 for the list of factor accounts h___ Households See Table 4 for the list of household accounts trc Transaction costs From moving goods between producers, markets and/or borders ent Enterprises Financial and non-financial corporations gov Government Government as an institution, not as a producing activity atax Taxes - activity Indirect taxes on producers dtax Taxes - direct Direct taxes on enterprises and households etax Taxes - export Indirect taxes on exports ftax Taxes - factor Direct taxes on factor incomes mtax Taxes - import Indirect taxes on imports (import duties) stax Taxes - sales Indirect taxes on domestic sales (VAT, GST and excise duty) s-i Savings-investment Investment is gross fixed capital formation dstk Change in stocks Inventory accumulation or depletion row Rest of world All foreign countries and economies total Total Row and column totals Source: IFPRI Nexus 42/5/10 standard SAM structure. 8 3. Nexus SAM Entries and General Data Sources The previous section outlined the broad structure of a Nexus SAM, including its standardized classification of accounts. This section describes the information included in each row and column entry in the SAM. One advantage of Nexus SAMs is that their Macro SAMs have a common classification or definition of cell entries. This section describes each of the blocks of cells in the Macro SAM following the numbered sequence shown in Table 8. The Macro SAMs are compiled using three key data sources. First, the International Monetary Fund’s (IMF) Government Finance Statistics (GFS) database provides detailed information on government revenues and expenditures and follows a standardized accounting framework. Nexus SAMs use the 2014 GFS Manual (GFSM) (IMF 2014b) and a mapping between GFSM codes and macro SAM accounts can be found in Table A4 in the appendix. Second, the IMF maintains detailed Balance of Payments Statistics (BOPS) (IMF 2014a). Nexus SAMs use the sixth BOPS Manual (BPM) and a mapping between BPM6 codes and macro SAM accounts can be found in Table A5 in the appendix. The conversion from US dollars to local currency uses the official exchange rate, as reported in World Development Indicators (World Bank 2021). Third, countries maintain their own national accounts that include production and expenditure-based GDP estimates. To the extent possible, the Nexus SAMs, like most countries, follow the United Nation’s System of National Accounts (SNA) (UN 2009). 1. Intermediate demand (Commodities | Activities) Definition: Intermediate demand includes payments by activities for the commodities used as non-factor inputs in production processes. For example, payments by the maize activity (amaiz) to the chemical commodity (cchem) for the fertilizer inputs used to grow maize. Estimation: Intermediate demand for each activity is estimated in three steps. First, the ratio of total intermediate demand to total value-added in each activity is derived from national IOT/SUTs and, where possible, updated using more recent national accounts, agricultural and industrial surveys, and/or censuses of economic activity. Second, this ratio is used to derive the absolute level of total intermediate demand based on the estimated level of activity value- added (see Entry 2 below). Third, total intermediate payments are disaggregated across individual commodities using shares derived from national IOT/SUTs and agricultural and industrial surveys. Note that IOT/SUTs are usually only updated when national statistical agencies rebase national accounts. The quality or accuracy of intermediate input coefficients therefore declines over time until the underlying IOT/SUTs are re-estimated. The description of each SAM in Section 5 indicates the IOT/SUT’s benchmark year. 9 Table 8: Numbered Entries in a Standard Nexus SAM Activities Commodities Factors Enterprises Households Government Taxes Investment Rest of the World Activities 4 17 Commodities 1 5 18 23 29 31 Factors 2 32 Enterprises 8 24 33 Households 9 12 25 34 Government 13 19 28 35 Taxes 3 6 10 14 20 Savings 15 21 26 30 36 Rest of the World 7 11 16 22 27 10 2. Value-added (Factors | Activities) Definition: Value-added is the returns earned by factors during the production process, such as labor wages and salaries, land rents, and capital profits. Land and capital includes gross operating surplus (GOS), part of which may be reported as “mixed income” in national accounts or IOT/SUTs. Estimation: Total value-added by activity is estimated in two steps. First, national accounts report the level of gross domestic product (GDP measured in basic prices) for aggregate sectors and these are assigned to groups of SAM activities. Second, aggregate GDP estimates are disaggregated to the level of the SAM activities using information on sub-sectoral production from sources beyond national accounts. The value of activity level agricultural production is estimated using production quantity and producer price data from national Ministries of Agriculture and/or the FAO’s FAOSTAT database (FAO 2021). Total value-added in each agricultural sector is estimated by multiplying the ratio of GDP to gross output (derived from IOT/SUTs) by the estimated value of activity gross output. Similarly, information on activity- level industrial production is derived from manufacturing or industrial surveys (or possibly from changing weights of producer price indices). Labor value added is disaggregated across the worker categories in Table 3 using national household and/or labor force survey data.4 Workers in these surveys report their sector of employment, their earnings (wages, salaries, in-kind, etc.), and their education levels. Earnings from farm and non-farm enterprises are usually reported at the household level in surveys, and in such cases, these earnings are allocated across individual household members based on their reported employment status and sector of employment. It is assumed that paid and unpaid family members earn equal shares of household enterprise incomes (net of input costs). 3. Taxes on producers (Taxes | Activities) Definition: Net taxes on production (or subsidies if value is negative). Estimation: The total value of activity taxes (atax) is taken from the IMF’s GFS and includes “taxes on payroll and workforce” (GFSM code 112). This is disaggregated across activities using information from national tax authorities and/or from the IOT/SUT. For the latter, tax rates are derived from the IOT/SUT and then applied to the sectoral value of GDP and intermediate payments (see Entries 1 and 2). This provides an initial estimate of net activity tax payments, which are then scaled to match the total value of activity tax collections. 4 The national household surveys used to build Nexus SAMs are often the same as the surveys used to estimate poverty rates or the weights for the consumer price index (e.g., Living Conditions Monitoring Surveys). 11 4. Marketed output (Activities | Commodities) Definition: Value of domestically produced goods and services that are supplied to markets, either for domestic use or for export. Marketed output is net non-marketed or home produced and consumed goods and services (see Entry 18). Estimation: This is a residual balancing item for activities. The value of gross output less the value of non-marketed consumption is paid from each activity to its corresponding commodity, thereby balancing activity rows and columns. 5. Transaction costs (Commodities | Commodities) Definition: Trade and transport costs associated with moving goods between producers, markets and national borders, either for domestic, import or export trade. For example, exporters incur transport fees when moving goods from their factories to the national border, whereas importers incur fees when delivering goods to domestic markets. Estimation: There are two approaches to estimating transaction costs in Nexus SAMs. First, margin payments as a share of total demand are estimated using past IOT/SUTs. These rates are then applied to total demand estimates in the SAM, including exports, to derive new transaction costs. Second, margins are estimated by the gap between producer and market prices, net of indirect taxes, using price data supplied by national statistical agencies. The first approach is preferred and is the one typically used for Nexus SAMs (see detailed description of each SAM’s data sources for information on which approach was used). Finally, transaction cost margins generate income for trade and/or transport activities. 6. Taxes on products (Taxes | Commodities) Definition: All indirect taxes imposed on goods and services (or subsidies if value is negative). Estimation: Nexus SAMs separate taxes on products into three categories: sales taxes (stax), export taxes (etax), and import tariffs (mtax) (see Table 4). The total value of tax collections is taken from the IMF’s GFS. Sales taxes are “taxes on goods and services” (GFSM code 114), which is a summation of various tax instruments, most importantly value-added taxes (GFSM 11411), sales taxes (GFSM 11412), and excise duties (GFSM 1142). Import tariffs (mtax) are “taxes on international trade and transactions” (GFSM 115), excluding “taxes on exports” (GFSM 1152), which are assigned to export taxes in the SAM. Tax revenues are disaggregated across commodities using national tax authority data and/or tax rates estimated from the IOT/SUT. If the IOT/SUT is outdated, then weighted import tariff rates are taken from the United Nations Conference on Trade and Development’s Trade Analysis and Information System (TRAINS) (UNCTAD 2021). Tax rates are applied to the level of domestic sales, imports or exports (see Entries 7 and 32). This provides an initial 12 estimate of commodity level tax payments, which are then scaled to match the total value of each tax revenue category, as estimated above. 7. Imports (Rest of World | Commodities) Definition: Value of goods and services imported from abroad, less the cost of carriage, insurance and freight. Estimation: The total value of imports is taken from national accounts, and this is then disaggregated into total goods and total services using current account data from the IMF’s BOPS (i.e., BPM6 codes BMG for “goods, debit” and BMS for “services, debit”). BOPS provides detailed information on services imports by commodity and this is used to assign imports to service commodities in the SAM (see Table A5 in the appendix). Goods imports are disaggregated across commodities using 6-digit HS gross import flows from the International Trade Database at the Product-level (BACI) (Gaulier and Zignago 2010) which is built based on the United Nations Commodity Trade Statistics (COMTRADE) database (UNSD 2024). BACI performs various operations to reconcile COMTRADE data reported by both exporting and importing countries. As a result, the trade data are balanced, enhancing the quality of trade data for many low- and low-middle income countries. 8. Factor income to enterprises (Enterprises | Factors) Definition: Capital payments to enterprises after paying factor taxes and after transfers to the rest of the world (see Entries 10 and 11). Payments equal gross operating surplus (GOS) generated outside the crop and livestock sectors (see direct payments to households below). GOS includes the value of consumption of fixed capital during the production process. Estimation: This is a residual balancing item for the capital account. Total capital income less capital taxes and foreign transfers is paid to the enterprise account, thereby balancing capital’s row and column. 9. Factor income to households (Households | Factors) Definition: Labor, land, and crop/livestock capital payments to households, after paying factor taxes and making transfers to the rest of the world (see Entries 10 and 11). These payments equal compensation to workers, returns to land, and the capital earnings (i.e., GOS) generated in the crop and livestock sectors. Estimation: This is a residual balancing item for labor and land. Total factor incomes less factor taxes and foreign transfers are paid to individual household accounts, thereby balancing these factors’ rows and columns. Labor payments to households are disaggregated across household and labor categories using information from national household or labor force surveys (see Entry 2 on treatment on workers’ shares of household enterprise incomes). Land 13 and livestock capital payments to households are disaggregated using survey households’ reported revenues from agricultural crops and livestock. 14 10. Factor taxes (Taxes | Factors) Definition: Direct taxes paid by capital to the government. Estimation: The value of capital tax collections is taken from the IMF’s GFS. Factor taxes are “taxes on property” (GFSM code 113), which is a summation of various taxes, including wealth and estate taxes and capital levies. 11. Factor payments abroad (Rest of World | Factors) Definition: Labor, land and capital incomes paid to foreign households or enterprises. For example, workers belonging to foreign households may earn some or all of their labor incomes in domestic industries and this income may be repatriated back to workers’ home countries. Similarly, some profits generated by foreign-owned mining companies may be repatriated to company headquarters in another country. Estimation: Factor transfers to the rest of the world are from the IMF’s BOPS. Labor transfers are “compensation of employees, debit” (BPM6 code BMIPCE). Capital transfers are “investment income, debit” (BPM6 BMIPI), which includes, amongst others, payments on equity and investment funds to foreign investors. 12. Enterprise transfers to households (Households | Enterprises) Definition: Indirect capital payments by enterprises to households, after paying corporate taxes and saving and making transfers to government and the rest of the world (see Entries 13, 14, 15 and 16). This includes indirect gross operating surplus paid from the earnings of household nonfarm enterprises. Estimation: This is a residual balancing item for the enterprise account. Total enterprise income less taxes and transfers is paid to households, thereby balancing the enterprise row and column. Enterprise earnings are paid to households based on households’ earnings from nonfarm enterprises, dividends and private pension funds as reported in national household surveys. 13. Enterprise transfers to government (Government | Enterprises) Definition: Transfers from enterprises (financial and non-financial corporations) to governments, other than direct tax payments (see Entry 13). For example, domestic banks may provide loans to the government, or parastatal enterprises may pay dividends or repay loans to the general government. Enterprises may also contribute to public social welfare schemes on behalf of their employees. 15 Estimation: Transfers received by the government from financial and non-financial corporations are taken from the IMF’s GFS. This is “property income” (GFSM code 141), which includes, amongst others, interest and dividend payments and payments for rented public property. Transfers from enterprises also include “other taxes” (GFSM 116), which are either paid by business or are unidentifiable. Finally, enterprises include employer contributions to social security (GFSM 1212) and other social schemes (GFSM 1222). 14. Corporate taxes (Taxes | Enterprises) Definition: Corporate and other direct taxes paid by enterprises (financial and non-financial corporations) to the government. Estimation: The total value of taxes collected from enterprises is taken from the IMF’s GFS. This includes taxes “payable by corporations and other enterprises” (GFSM code 1112) and “other taxes on income, profits, and capital gains” (GFSM 1113). 15. Enterprise savings (Savings | Enterprises) Definition: Domestic private savings by enterprises (financial and non-financial corporations). This includes reinvested earnings as well as the value of the consumption of fixed capital (i.e., provision for capital depreciation). Estimation: Total domestic private savings is back-calculated by subtracting public and foreign savings from the value of gross capital formation (see Entries 21, 26, 29 and 36). Unfortunately, few developing countries have the detailed national accounts data needed to disaggregate domestic private savings across corporations (enterprises) and households. Accordingly, in the absence of this information, the Nexus SAMs assume that enterprises and households have similar savings rates, after enterprises have subtracted their allowance for the depreciation of working capital. 16. Enterprise payments abroad (Rest of World | Enterprises) Definition: Secondary income transfers from domestic financial and non-financial enterprises to the rest of the world. Estimation: The value of enterprise foreign payments comes from the IMF’s BOPS. This includes “other transfers, debit” (BPM6 code BMISOOT). 17. Private non-marketed consumption (Activities | Households) Definition: Activity output that is both produced and consumed within the household, i.e., “own” or “home” consumption. 16 Estimation: Non-marketed consumption is estimated in three steps. First, the share of total private consumption for each Nexus SAM commodity is estimated using aggregate private consumption from national accounts and commodity-level consumption from national household surveys. Second, the share of home consumption in total consumption of each commodity is estimated using the household surveys, and this share of then used to separate total commodity consumption into marketed and non-marketed components. Third, home consumption is disaggregated across household groups using household survey data. Home consumption is defined as any products not purchased in markets, including the consumption of both home produced products and products received “in-kind” from other households (i.e., without monetary payment). 18. Private marketed consumption (Commodities | Households) Definition: Commodities that are purchased in markets and consumed by households. Estimation: Marketed consumption is estimated in three steps. First, the share of total private consumption for each Nexus SAM commodity is estimated using aggregate private consumption from national accounts and commodity-level consumption from national household surveys. Second, the share of home consumption in total consumption of each commodity is estimated using the household surveys, and this share of then used to separate total commodity consumption into marketed and non-marketed components. Third, marketed consumption is disaggregated across household groups using household survey data. Marketed consumption is defined as any products purchased in markets, i.e., not home produced or received “in-kind” from other households. 19. Household transfers to government (Government | Households) Definition: Payments by household to the government other than for direct taxes (see Entry 19). For example, households may contribute to public social welfare schemes, including retirement and healthcare funds. Estimation: The total value of transfers is taken from the IMF’s GFS. This is social security and other social contributions, including payments by employees (GFSM codes 1211 and 1221), self-employed and unemployed people (GFSM 1213), and unallocable and imputed contributions (GFSM 1214 and 1223). Household transfers to government also include various other revenue sources, including from sales of goods and services (GFSM 142), and fines penalties and forfeits (GFSM 143). 20. Household taxes (Taxes | Households) Definition: Direct income or personal taxes paid by households. For example, households often “pay as you earn” (PAYE) taxes to the government based on their wages and salaries. 17 Estimation: Total tax collection is taken from the IMF’s GFS. It includes taxes on income, profits and capital gains that are “payable by individuals” (GFSM code 1111). This is disaggregated across the household groups in the Nexus SAMs using personal income tax rates reported by households in the national household survey. If tax data if not available or is poorly captured in the survey, then incomes from secondary/tertiary educated labor is used as a proxy for disaggregating total direct tax collections (see Table 3). 21. Household savings (Savings | Households) Definition: Domestic private savings by households. Estimation: Total domestic private savings is back calculated by subtracting public and foreign savings from the value of gross capital formation (see Entries 21, 26, 29 and 36). Unfortunately, few countries have the detailed national accounts data needed to disaggregate domestic private savings across enterprises (corporations) and households. Accordingly, in the absence of detailed information, the Nexus SAMs assume that enterprises and households have similar savings rates, after enterprises have subtracted their allowance for the depreciation of working capital. Household savings are then disaggregated across household groups in the SAM using information from national household surveys. Although survey households often report the value of deposits made into bank accounts or the amount of savings during the year, including private pension contributions, this information is often poorly captured. In such cases, proxy indicators are derived from household earnings from enterprises and incomes from more educated labor. 22. Household payments abroad (Rest of World | Households) Definition: Secondary income transfers from households to the rest of the world. Estimation: The value of household foreign payments comes from the IMF’s BOPS. This includes “personal transfers, debit” (BPM6 code BMISOPT). Transfers are disaggregated across household groups in the SAM using information from national household surveys that capture the amount of remittances households sent abroad. 23. Government consumption (Commodities | Government) Definition: Government recurrent spending on goods and services. Public consumption demand by the government institution is the primary source of demand for services produced by government activities, which consist of public administration, education, and health and social work. Estimation: The total value of government consumption is drawn directly from a country’s national accounts data. This is cross-checked against recurrent expenditures in the IMF’s GFS, which reports government’s “compensation of employees” (GFSM code 21), “use of goods 18 and services” (GFSM 22), and “consumption of fixed capital” (GFSM 23). Total consumption is disaggregated across commodities using budget shares derived from the IOT/SUT, and then adjusted to reflect changes in the composition of supply of public administration, education, and health and social work services. 24. Government transfers to enterprises (Enterprises | Government) Definition: Transfers from the government to enterprises (financial and non-financial corporations). For example, the government may pay interest or repay the principal on a loan from a domestic bank, or the government may lend money to parastatal companies. Estimation: Transfers paid by the government to financial and non-financial corporations are taken from the IMF’s GFS. This is interest payments to nongovernment residents (GFSM code 242), subsidies to public corporations and private enterprises (GFSM 25) and “other expenses” (GFSM 28). The latter includes property expenses like dividend and rental payments. 25. Government transfers to households (Households | Government) Definition: Payments by the government to households. For example, governments may pay households from a public pension or cash transfer scheme. Estimation: The total value of transfers is taken from the IMF’s GFS. This is social benefits (GFSM code 27), which includes social security, social assistance, and other employment- related social benefits, each of which may be paid in cash or in-kind. 26. Government savings (Savings | Government) Definition: Recurrent fiscal surplus for the government (of deficit if cell entry is negative). Note that this is the difference between revenues and recurrent expenditures, i.e., before public capital investment. Recurrent expenditures include public consumption spending (see Entry 25) and transfers to domestic and foreign institutions (see Entries 24, 25 and 27). Estimation: This is the residual balancing item for the government account, although it cross- checked against the difference between total revenues and total recurrent expenses in the IMF’s GFS (GFSM codes 1 and 2). Any deviation from GFS data is due to the Nexus SAM giving preference to statistics from national accounts (for indirect tax collections and government consumption spending, see Entries 3, 6 and 23) and to the IMF’s BOP database (for foreign transfers, see Entries 27 and 35). 19 27. Government payments abroad (Rest of World| Government) Definition: Transfers from the government to the rest of the world. For example, government may provide foreign aid to other countries, or must pay interest or repay loans to foreign governments and financial enterprises. Estimation: The value of government foreign payments comes from the IMF’s BOPS, and is cross-checked against the IMF’s GFS. BOPS-based payments include “general government transfers, debit” under secondary income (BPM6 code BMISG). GFS-based payments include interest payments to nonresidents (GFSM code 241), and grants paid to foreign governments and international organizations (GFSM 26). 28. Tax revenues paid to government (Government | Taxes) Definition: Revenues transferred from individual tax accounts to the government account. Estimation: This is a residual balancing item for the tax accounts in the SAM. The distinction between taxes and the government account allows the SAM to disaggregate indirect taxes on commodities, i.e., sales taxes, export taxes, and import tariffs (see Entry 6). 29. Gross capital formation (Commodities | Investment) Definition: Combination of gross fixed capital formation (GFCF) and changes in stocks or inventories. GFCF is the spending on commodities involved during the investment in capital stock. For example, investment typically involves the purchase of machinery, vehicles and equipment, as well as payments for constructing new factories and storage facilities. Changes in stocks occur when businesses carry-over stock for sale in subsequent years, or when they sell products in the current year that were produced in previous years. Positive values in the SAM indicate an accumulation of stocks and negative values indicate a depletion of stocks. Finally, note that the Nexus SAMs combine private, public and foreign investment, just as they combine private, public and foreign savings (see Entries 15, 21 and 26). Estimation: The Nexus SAMs distinguish between GFCF (s-i) and changes in stocks (dstk). SAM entries are determined in two steps. First, the total value of GFCF and stock changes are taken from official national accounts data. Second, these total values are disaggregated across commodities using expenditure shares from the IOT/SUT. In some cases, countries report the composition of GFCF on an annual basis, in which case this information is used in place of the IOT/SUT shares. The same is true for stock changes, although most countries only report detailed stock changes when a new IOT/SUT is produced during the rebasing of national accounts. Although commodity level stock changes in Nexus SAMs may deviate from national accounts, this may be less concerning since these flows are typically exogenous within economywide models. 20 30. Inventory or stock change adjustment (Savings | Investment) Definition: The accumulation of stocks for sale in subsequent years are added to the amount of savings available in the country (and a depletion of stocks reduces savings). For example, if an activity produces a machine this year for sale next year then they are effectively saving the value of the machine (or investing in future sales). This transfer of total stock changes to the savings account was not shown in Table 1, because it nets to zero in SAMs that aggregate gross fixed capital formation (GFCF) and changes in stocks. Estimation: This is a residual balancing item for the change in stocks account (see Entry 29). The total value of stock changes is paid to the savings account. A positive value means a net accumulation of stocks and a negative value means a net depletion. 31. Exports (Commodities | Rest of World) Definition: Value of goods and services exported abroad. Estimation: The total value of exports is taken from national accounts, and this is then disaggregated into total goods and total services using current account data from the IMF’s BOPS (i.e., BPM6 codes BXG for “goods credit” and BXS for “services credit”). BOPS provides detailed information on services exports by commodity and this is used to assign exports to service commodities in the SAM (see Table A5 in the appendix). Goods exports are disaggregated across commodities using 6-digit HS gross export flows from the International Trade Database at the Product-level (BACI) (Gaulier and Zignago 2010) which is built based on the United Nations Commodity Trade Statistics (COMTRADE) database (UNSD 2022). 32. Foreign transfers to factors (Factors | Rest of World) Definition: Labor, land and capital incomes received from the rest of the world. For example, workers belonging to domestic households may earn some or all of their labor incomes working in a foreign country and this income may be repatriated. Similarly, domestically- owned companies may repatriate profits earned abroad. Estimation: Factor transfers from the rest of the world are from the IMF’s BOPS. Labor receipts are “compensation of employees, credit” (BPM6 code BXIPCE). Capital receipts are “investment income, credit” (BPM6 BXIPI), which includes, amongst others, income on foreign equity and investment funds. 33. Foreign transfers to enterprises (Enterprises| Rest of World) Definition: Secondary income transfers from the rest of the world to domestic financial and non-financial enterprises. 21 Estimation: The value of enterprise foreign receipts comes from the IMF’s BOPS. This includes “other transfers, credit” (BPM6 code BXISOOT). 34. Foreign transfers to households (Households| Rest of World) Definition: Secondary income transfers from households to the rest of the world. For example, households may receive remittance incomes from family members working abroad. Estimation: The value of household foreign incomes comes from the IMF’s BOPS. This includes “personal transfers, credit” (BPM6 code BXISOPT). Transfers are disaggregated across household groups in the SAM using information from national household surveys that capture the amount of remittances households received from abroad. 35. Foreign transfers to government (Government| Rest of World) Definition: Transfers from the rest of the world to the government. For example, government may receive foreign aid from other countries. Estimation: The value of government foreign receipts comes from the IMF’s BOPS, and this is cross-checked against the IMF’s GFS. BOPS-based receipts include “general government transfers, credit” under secondary income (BPM6 code BXISG). GFS-based payments include grants received from foreign governments and international organizations (GFSM code 131 and 132). 36. Foreign savings (Savings | Rest of World) Definition: Current account balance equal to total foreign capital or savings inflows. Estimation: This is the residual balancing item for the rest of world account, although it cross- checked against the current account balance reported in the IMF’s BOPS (BPM6 code 1). Any deviation from BOPS data – and this is usually small – is due to the Nexus SAM giving preference to total the value of imports and exports reported in national accounts (see Entries 7 and 31). 22 4. Balancing Nexus SAMs Nexus SAMs are constructed in three stages using the IFPRI SAM Building Toolkit. The toolkit uses a standardized template in Microsoft-Excel® to construct and export an unbalanced SAM to a compilation and balancing program that is executed in the General Algebraic Modeling System (GAMS). During the first stage of the SAM Toolkit, a Macro SAM is constructed using the data described in previous sections. The three main data sources for the Macro SAM are national accounts, GFS, and BOPS. Unfortunately, in many developing countries, these three data sources are not fully reconciled. For example, the total value of exports and imports in national accounts may not exactly match the values appearing in BOPS. Preference is given to certain data sources. For instance, Nexus SAMs always use national accounts data instead of trade data from BOPS or government consumption spending estimates from GFS. Similarly, preference is given BOPS over GFS when estimating transfers between the government and the rest of the world. Row and column totals in the Macro SAM are reconciled manually through various residual balancing items, as listed below: • Marketed supply balances the activity accounts (see Entry 4) • Transfers to households or enterprises balances the factor accounts (see Entry 8 and 9) • Transfers to households balances the enterprise account (see Entry 12) • Household and government savings balance the household and government accounts (see Entries 21 and 26) • Foreign savings balances the rest of world account (see Entry 36). During the second stage, income and expenditure shares derived from surveys and other sources are used to disaggregate the Macro SAM entries across detailed activities, commodities, factors, and households. Sectoral and product data is used to disaggregate production and trade, and survey data is used to disaggregate factor and household incomes and consumer demand. There are always imbalances between the level of supply and demand for commodities and between household incomes and expenditures. These imbalances are manually checked for misclassification issues and logical errors in data collection and reporting. However, imbalances invariably remain, and so Nexus SAMs use cross-entropy estimation techniques to reconcile row and column totals at the detailed commodity and household level. For more information on cross-entropy-based reconciliation of SAM accounts, see Robinson et al. (2001). 23 5. Guatemala SAM and Data Sources The 2021 Guatemala SAM follows the Standard Nexus Structure (see Section 2). Table 9 lists the specific data sources used to construct the SAM. Most sources are consistent with those used in Standard Nexus SAMs (see Section 3). Activities: Guatemala’s national accounts were rebased using a 2021 base year. The SUT was aggregated to the Nexus activities using the ISIC Revision 4 concordance (see Table A1 in the appendix). National accounts provided GDP estimates for 105 sectors, which were aggregated to the standard Nexus 90 sectors using crop and livestock production and producer price data from FAOSTAT (see Table A2) and gross output values for manufacturing subsectors from Guatemala’s supply use table (SUT, 2021). National accounts provided sufficient detail for service sector GDP. The final SAM was aggregated to the standard 42 activities for dissemination. Table 9. Summary of Data Sources for the 2021 Guatemala SAM Data needs Data year Country data sources Reference Macroeconomic structure National accounts 2021 2021 National accounts series BCH (2021a) IOT/SUT 2021 2021 SUT BCH (2021b) Government finance 2021 Government Finance Statistics online database IMF (2022a) Balance of payments 2021 Balance of Payments BPM6 Compilation IMF (2022b) Exchange rate 2021 World Development Indicators World Bank (2022) Disaggregating activities Aggregate sectors 2022 2022 GDP series BCH (2021a) Crops and livestock subsectors 2021 FAOSTAT online database FAO (2021) Mining 2021 2021 SUT BCH (2021b) Trade 2021 2021 SUT BCH (2021b) Manufacturing 2021 2021 SUT BCH (2021b) Disaggregating commodities Private consumption 2014 2014 National Household Budget Survey ENCOVI (2014) Own consumption share 2014 2014 National Household Budget Survey ENCOVI (2014) Public consumption 2021 2018 SUT BCH (2021b) Gross fixed capital formation 2021 2018 SUT BCH (2021b) Goods trade 2021 BACI database Gaulier and Zignago (2010) Services trade 2021 Balance of Payments BPM6 Compilation IMF (2022b) Indirect tax rates 2021 2021 SUT BCH (2021b) Import tariff rates 2021 2021 TRAINS online database UNCTAD (2024) Transaction cost margins 2021 2021 SUT BCH (2021b) Disaggregating labor 2014 2014 National Household Budget Survey ENCOVI (2014) Disaggregating households 2014 2014 National Household Budget Survey ENCOVI (2014) Source: 2021 Guatemala SAM. Commodities: National accounts report GDP by expenditure group, i.e., private and public consumption, investment demand, and exports and imports. These groups were disaggregated across the Nexus commodities using the following data: • Six-digit BACI and itemized BOPS data were used to disaggregate international goods and services trade, respectively. 24 • The 2016/17 National Household Budget Survey (ENPH), which is a nationally- representative household survey distinguishes between marketed and own consumption spending, and this information was used to disaggregate total private consumption spending across activities and commodities. • The 2018 SUT provided information on the breakdown of public consumption spending across public administration, health and social work, and education. This was updated using GDP estimates for public administration, education and health. • Initial indirect tax rates were first estimated from the 2018 SUT and then adjusted using more recent data on tariffs and VAT collections by commodity. Rates were then scaled uniformly to match total revenues by tax instrument. • Transaction cost margins (as a share of commodity supply) were estimated from the 2018 SUT. Labor: The SUT separates sectoral GDP into compensation of employees, and gross operating surplus. Labor value-added was disaggregated using sector-level worker and household income shares derived from the ENPH. This includes wage earnings, as well as farm and non-farm enterprise revenues. The latter were apportioned equally to individual household members based on their reported employment status and sector of employment. For example, if more than one household member reports being employed in agriculture, then each of these members are assigned an equal share of the households’ reported farm earnings. Households: Household incomes and expenditures were disaggregated across representative household groups using information from the ENPH. Households receive factor incomes based on reported earnings of individual household members. The value-added generated by crop land and livestock capital were paid to household groups based on their reported farm enterprise revenues. Direct tax payments were assumed to be proportional to secondary/tertiary-educated workers’ wage and non-farm enterprise earnings. Finally, transfers received from the government and the rest of the world were assigned to households using information from the ENPH. More specifically, the ratio of transfer earnings to total household consumption was used to estimate initial transfer incomes, and these were then scaled uniformly across all households to match the total value of transfers appearing in government and balance of payments statistics. 25 Table 10: Macro SAM for Guatemala in 2021 (Billions of Guatemalan quetzal) Activities Commodities Factors Enterprises Households Government Taxes Investment Rest of the World Total Activities 1,060,176 14,646 1,074,822 Commodities 450,410 359,049 557,203 75,377 112,048 117,611 1,671,698 Factors 620,274 6,369 626,643 Enterprises 334,021 12,831 4,297 351,149 Households 273,397 277,762 5,986 118,283 675,428 Government 345 1,531 74,999 3,654 80,529 Taxes 4,138 41,048 26 20,101 9,685 74,999 Savings 51,374 92,233 -13,762 -17,796 112,048 Rest of the World 211,425 19,199 1,566 130 97 232,417 Total 1,074,822 1,671,698 626,643 351,149 675,428 80,529 74,999 112,048 232,417 Source: 2021 Guatemala SAM. 26 Table 11: Structure of Production and Trade in Guatemala (2021) Share of total (%) Exports/ output (%) Imports/ demand (%) GDP Exports Imports All sectors or commodities 100 100 100 11.1 15.4 Agriculture 10.0 22.8 3.6 25.9 5.6 Crops 7.2 22.1 3.2 36.3 6.8 Livestock 1.5 0.1 0.1 0.4 0.8 Forestry 1.1 0.1 0.0 0.9 0.3 Fisheries 0.2 0.6 0.3 34.4 17.4 Industry 23.8 58.2 81.7 19.4 28.0 Mining 0.6 1.1 1.0 25.0 30.8 Manufacturing 14.9 56.4 80.3 27.3 33.9 Processed foods 6.1 15.6 8.8 17.9 12.9 Beverage and tobacco 0.8 1.4 0.9 9.5 6.1 Textiles, clothing, and footwear 1.7 11.8 5.3 70.6 34.8 Wood and paper products 0.8 3.1 3.9 22.4 30.6 Chemicals and petroleum 2.4 13.7 29.1 43.2 50.4 Non-metal minerals 1.0 1.3 1.3 10.1 14.6 Metals and metal products 1.0 6.5 7.6 37.8 48.6 Machinery, equipment, and vehicles 0.5 2.0 21.7 75.8 65.4 Other manufacturing 0.7 1.0 1.8 9.9 18.4 Electricity, gas, and steam 1.7 0.5 0.3 4.0 3.3 Water supply and sewage 0.7 0.0 0.0 0.0 0.0 Construction 5.9 0.1 0.1 0.2 0.2 Services 66.2 19.0 14.7 3.7 5.0 Wholesale and retail trade 21.3 0.0 0.0 0.0 0.0 Accommodation and food services 2.8 0.0 0.0 0.1 0.1 Transportation and storage 3.1 2.7 1.7 8.7 9.7 Information and communication 3.9 2.0 2.3 7.3 13.4 Finance and insurance 4.0 0.7 3.2 2.0 13.8 Real estate activities 8.5 0.0 0.0 0.0 0.0 Business services 6.0 10.5 4.3 16.0 12.2 Public administration 4.4 0.0 0.3 0.1 1.8 Education 4.9 0.0 0.0 0.0 0.1 Health and social work 3.2 0.4 0.0 1.6 0.0 Other services 3.9 2.6 2.8 11.4 19.6 Source: 2021 Guatemala SAM 27 Table 12: Household Income Sources in Guatemala (2021) Share of total household income (%) Labor by education level Crop land Capital Transfers Total All workers Low educated Medium educated High educated All Agriculture Non- agriculture Government World All households 35.7 7.5 5.5 22.6 1.1 44.8 3.7 41.1 0.9 17.5 100 Quintile 1 65.8 42.3 14.4 9.1 6.0 22.1 18.0 4.1 0.1 6.1 100 Quintile 2 60.6 29.8 16.0 14.9 3.8 21.5 12.0 9.5 0.1 13.9 100 Quintile 3 50.6 16.0 12.7 21.9 2.5 29.0 8.7 20.3 0.1 17.8 100 Quintile 4 37.4 7.9 7.7 21.8 1.0 39.2 3.6 35.6 0.3 22.0 100 Quintile 5 28.3 1.6 2.1 24.7 0.3 52.8 1.1 51.7 1.3 17.3 100 Rural households 35.1 14.5 7.6 13.0 3.4 32.8 11.5 21.3 0.3 28.3 100 Urban households 35.9 5.1 4.8 26.0 0.3 49.0 0.9 48.1 1.1 13.7 100 Source: 2021 Guatemala SAM Notes: Labor is separated by the maximum level of education achieved: “low educated” workers have not finished primary schooling (i.e., 0-6 years of schooling); “medium educated” workers have finished primary schooling, but not finished secondary schooling (i.e., 7-11 years of schooling); and “high educated” workers have finished secondary or tertiary schooling (12+ years of schooling). Table 13: Household Populations and Expenditures in Guatemala (2021) Population Consumption spending Total spending Millions of people Share of total (%) Share of total (%) Per capita (1000 Guatemalan quetzal) Food share (%) Per capita (1000 Guatemalan quetzal) Savings rate (%) All households 18.3 100 100 31,334 36.2 37,010 13.7 Quintile 1 3.7 20.0 4.5 6,996 56.5 7,034 0.3 Quintile 2 3.6 20.0 7.8 12,247 53.1 12,389 0.7 Quintile 3 3.7 20.0 11.6 18,245 48.5 18,669 1.6 Quintile 4 3.7 20.0 19.2 30,114 43.9 31,675 3.8 Quintile 5 3.6 20.0 56.8 89,128 27.1 115,367 20.5 Rural households 9.2 50.5 28.8 17,880 44.7 18,998 5.2 Urban households 9.0 49.5 71.2 45,045 32.8 55,364 16.6 Source: 2021 Guatemala SAM Notes: Expenditures are annual. Consumption spending includes spending on goods and services. Total spending is consumption spending plus taxes, savings, and outward remittances. 28 References General References EC, IMF, OECD, UN and World Bank (European Commission, International Monetary Fund, Organization for Economic Cooperation and Development, United Nations, and World Bank). 2010. System of National Accounts 2008. New York NY, USA: EC, IMF, OECD, UN and World Bank. FAO (Food and Agriculture Organization of the United Nations). 2022. FAO Statistical Databases (FAOSTAT). Rome, Italy: FAO. Gaulier, G. and Zignago, S., 2010. BACI: International Trade Database at the Product-level (the 1994-2007 version). IMF (International Monetary Fund). 2016a. BPM6 Compilation Guide: Companion Document to the Sixth Edition of the Balance of Payments and International Investment Position Manual. Washington DC, USA: IMF. IMF (International Monetary Fund). 2016b. Government Finance Statistics Manual 2014. Washington DC, USA: IMF. IMF (International Monetary Fund). 2022a. Government Finance Statistics Database. Washington DC, USA: IMF. IMF (International Monetary Fund). 2022b. Balance of Payments and International Investment Position Online Database. Washington DC, USA: IMF Pyatt, G. and J. Round. 1985. Social Accounting Matrices: A Basis for Planning. Washington DC, USA: World Bank. Reinert, K.A., and D.W. Roland-Holst. 1997. “Social Accounting Matrices.” In Francois, J.F., and K.A. Reinert (eds.) Applied Methods for Trade Policy Analysis: A Handbook. New York NY, USA: Cambridge University Press. Robinson, S., A. Cattaneo and M. El-Said. 2001. “Updating and Estimating a Social Accounting Matrix Using Cross Entropy Methods.” Economic Systems Research 13 (1): 47-64. UNCTAD (United Nations Conference on Trade and Development). 2021. Trade Analysis Information System (TRAINS). Geneva, Switzerland: UNCTAD. UNDESA (United Nations Department for Economic and Social Affairs). 2002. International Standard Industrial Classification of All Economic Activities (ISIC): Revision 3.1. Statistical Papers, Series M No. 4 Rev. 3.1. New York NY, USA: Statistics Division, UNDESA. UNDESA (United Nations Department for Economic and Social Affairs). 2008. International Standard Industrial Classification of All Economic Activities (ISIC): Revision 4. Statistical Papers, Series M No. 4 Rev. 4. New York NY, USA: Statistics Division, UNDESA. UNSD (United Nations Statistics Division). 2021. Commodity Trade Statistics Database. New York NY, USA: UNSD. World Bank. 2022. World Development Indicators. Washington DC, USA: World Bank. 29 Country-Specific References Banco Central de Honduras (BCH). 2021a. Cuentas Nacionales anuales con base de referencia 2000. Subgerencia de Estudios Económicos. Banco Central de Honduras (BCH). 2021b. Cuadro Oferta y Utilización (COU) 2021. Subgerencia de Estudios Económicos. Encuesta Nacional de Condiciones de Vida (ENCOVI). 2014. Subgerencia de Estudios Económicos. 30 Table A1. Detailed Classification of Standard Nexus (42) Activity Accounts Nexus Activity International Standard Industrial Classification (ISIC) Revision 4 Code Description Code Description maiz Maize 0111 Growing of cereals (except rice), leguminous crops and oil seeds rice Rice 0112 Growing of rice ocer Other cereals 0111 Growing of cereals (except rice), leguminous crops and oil seeds puls Pulses 0111 Growing of cereals (except rice), leguminous crops and oil seeds oils Oilseeds 0111 Growing of cereals (except rice), leguminous crops and oil seeds root Roots 0113 Growing of vegetables and melons, roots and tubers vege Vegetables 0113 Growing of vegetables and melons, roots and tubers sugr Sugarcane 0114 Growing of sugar cane toba Tobacco 0115 Growing of tobacco cott Cotton and fibers 0116 Growing of fiber crops frui Fruits and nuts 0121 Growing of grapes 0122 Growing of tropical and subtropical fruits 0123 Growing of citrus fruits 0124 Growing of pome fruits and stone fruits 0125 Growing of other tree and bush fruits and nuts 0126 Growing of oleaginous fruits coff Coffee, tea, and cocoa 0127 Growing of beverage crops ocrp Other crops 0119 Growing of other non-perennial crops 0128 Growing of spices, aromatic, drug and pharmaceutical crops 0129 Growing of spices, aromatic, drug and pharmaceutical crops 0130 Plant propagation 0161 Support activities for crop production 0163 Post-harvest crop activities 0164 Seed processing for propagation catt Cattle and raw milk 0141 Raising of cattle and buffaloes poul Poultry and eggs 0146 Raising of poultry oliv Other livestock 0142 Raising of horses and other equines 0143 Raising of camels and camelids 0144 Raising of sheep and goats 0145 Raising of swine/pigs 0149 Raising of other animals 0162 Support activities for animal production 0170 Hunting, trapping and related service activities fore Forestry 02xx Forestry and logging fish Fishing 03xx Fishing and aquaculture mine Mining 05xx Mining of coal and lignite 06xx Extraction of crude petroleum and natural gas 07xx Mining of metal ores 08xx Other mining and quarrying 09xx Mining support service activities food Food processing 101x Processing and preserving of meat 102x Processing and preserving of fish, crustaceans and mollusks 103x Processing and preserving of fruit and vegetables 104x Manufacture of vegetable and animal oils and fats 105x Manufacture of dairy products 106x Manufacture of grain mill products, starches and starch products 107x Manufacture of other food products 108x Manufacture of prepared animal feeds beve Beverage and tobacco 11xx Manufacture of beverages 12xx Manufacture of tobacco products text Textiles, clothing and footwear 13xx Manufacture of textiles 14xx Manufacture of wearing apparel 15xx Manufacture of leather and related products wood Wood and paper products 16xx Manufacture of wood and of products of wood and cork, except furniture 17xx Manufacture of paper and paper products 18xx Printing and reproduction of recorded media chem Chemicals and petroleum 19xx Manufacture of coke and refined petroleum products 20xx Manufacture of chemicals and chemical products (excl. 2012 and 2021 above) 21xx Manufacture of basic pharmaceutical products and pharmaceutical preparations 22xx Manufacture of rubber and plastics products nmet Non-metal minerals 23xx Manufacture of other non-metallic mineral products 31 Table A1 (continued). Detailed Classification of Standard Nexus (42) Activity Accounts Nexus Activity International Standard Industrial Classification (ISIC) Revision 4 Code Description Code Description metl Metals and metal products 24xx Manufacture of basic metals 25xx Manufacture of fabricated metal products, except machinery and equipment mach Machinery, equipment and vehicles 26xx Manufacture of computer, electronic and optical products 27xx Manufacture of electrical equipment 28xx Manufacture of machinery and equipment 29xx Manufacture of motor vehicles, trailers and semi-trailers 30xx Manufacture of other transport equipment oman Other manufacturing 31xx Manufacture of furniture 32xx Other manufacturing 33xx Repair and installation of machinery and equipment elec Electricity, gas and steam 35xx Electricity, gas, steam and air conditioning supply watr Water supply and sewage 36xx Water collection, treatment and supply 37xx Sewerage 38xx Waste collection, treatment and disposal activities; materials recovery cons Construction 41xx Construction of buildings 42xx Civil engineering 43xx Specialized construction activities trad Wholesale and retail trade 45xx Wholesale and retail trade and repair of motor vehicles and motorcycles 46xx Wholesale trade, except of motor vehicles and motorcycles 47xx Retail trade, except of motor vehicles and motorcycles tran Transportation and storage 49xx Land transport and transport via pipelines 50xx Water transport 51xx Air transport 52xx Warehousing and support activities for transportation 53xx Postal and courier activities hotl Accommodation and food services 55xx Accommodation and food services 56xx Food and beverage service activities comm Information and communication 58xx Publishing activities 59xx Motion picture, video, TV program production, sound and music publishing 60xx Programming and broadcasting activities 61xx Telecommunications 62xx Computer programming, consultancy and related activities 63xx Information service activities fsrv Finance and insurance 64xx Financial service activities, except insurance and pension funding 65xx Insurance, reinsurance and pension funding, except compulsory social security 66xx Activities auxiliary to financial service and insurance activities real Real estate activities 68xx Real estate activities bsrv Business services 69xx Legal and accounting activities 70xx Activities of head offices; management consultancy activities 71xx Architectural and engineering activities; technical testing and analysis 72xx Scientific research and development 73xx Advertising and market research 74xx Other professional, scientific and technical activities 75xx Veterinary activities 77xx Rental and leasing activities 78xx Employment activities 79xx Travel agency, tour operator, reservation service and related activities 80xx Security and investigation activities 81xx Services to buildings and landscape activities 82xx Office administrative, office support and other business support activities padm Public administration 84xx Public administration and defense; compulsory social security educ Education 85xx Education heal Health and social work 86xx Human health activities 87xx Residential care activities 88xx Social work activities without accommodation osrv Other services 90xx Creative, arts and entertainment activities 91xx Libraries, archives, museums and other cultural activities 92xx Gambling and betting activities 93xx Sports activities and amusement and recreation activities 94xx Activities of membership organizations 95xx Repair of computers and personal and household goods 96xx Other personal service activities 97xx Activities of households as employers of domestic personnel 98xx Undifferentiated goods/service activities of private households for own use 99xx Activities of extraterritorial organizations and bodies 32 Table A2. Detailed Classification of Standard Nexus Agricultural Activity Accounts Code Description (FAOSTAT crop and livestock product codes in parentheses) maiz Maize (56) rice Paddy rice (27) ocer Wheat (15); Barley (44); Rye (71); Oats (75); Millet (79); Sorghum (83); Buckwheat (89); Quinoa (92); Fonio (94); Triticale (97); Canary seed (101); Mixed grain (103); Cereals not elsewhere specified (108) puls Dry beans (176); Dry broad beans and horse beans (181); Dry peas (187); Chick peas (191); Dry cow peas (195); Pigeon peas (197); Lentils (201); Bambara beans (203); Vetches (205); Lupins (210); Pulses not elsewhere specified (211) oils Soybeans (236); Groundnuts with shell (242); Coconuts (249); Palm oil fruit (254); Palm kernels (256); Palm oil (257); Olives (260); Karite nuts (sheanuts) (263); Castor oil seed (265); Sunflower seed (267); Rapeseed (270); Tung nuts (275); Jojoba seed (277); Safflower seed (280); Sesame seed (289); Mustard seed (292); Poppy seed (296); Melonseed (299); Tallowtree seed (305); Vegetable tallow (306); Stillingia oil (307); Cottonseed (329); Linseed (333); Hempseed (336); Oilseeds not elsewhere specified (339) root Potatoes (116); Sweet potatoes (122); Cassava (125); Yautia (cocoyam) (135); Taro (cocoyam) (136); Yams (137); Roots and tubers not elsewhere specified (149) vege Cabbages and other brassicas (358); Artichokes (366); Asparagus (367); Lettuce and chicory (372); Tomatoes (388); Cauliflowers and broccoli (393); Pumpkins, squash and gourds (394); Cucumbers and gherkins (397); Eggplants (aubergines) (399); Chilies and peppers, green (401); Green onions and shallots (402); Dry onions (403); Garlic (406); Leeks and other alliaceous vegetables (407); Green beans (414); Green peas (417); Leguminous vegetables not elsewhere specified (420); String beans (423); Carrots and turnips (426); Okra (430); Green maize (446); Mushrooms and truffles (449); Chicory roots (459); Carobs (461); Fresh vegetables not elsewhere specified (463) sugr Sugar cane (156); Sugar beet (157); Sugar crops not elsewhere specified (161) toba Unmanufactured tobacco (826) cott Kapok fruit (310); Seed cotton (328); Flax fiber and tow (773); Hemp tow waste (777); Jute (780); Bastfibers, other (782); Ramie (788); Sisal (789); Agave fibers not elsewhere specified (800); Manila fiber (abaca) (809); Fiber crops not elsewhere specified (821) frui Brazil nuts with shell (216); Cashew nuts with shell (217); Chestnut (220); Almonds with shell (221); Walnuts with shell (222); Pistachios (223); Kola nuts (224); Hazelnuts with shell (225); Areca nuts (226); Nuts not elsewhere specified (234); Bananas (486); Plantains (489); Oranges (490); Tangerines, mandarins, clementines and satsumas (495); Lemons and limes (497); Grapefruit (including pomelos) (507); Citrus fruit not elsewhere specified (512); Apples (515); Pears (521); Quinces (523); Apricots (526); Sour cherries (530); Cherries (531); Peaches and nectarines (534); Plums and sloes (536); Stone fruit not elsewhere specified (541); Pome fruit not elsewhere specified (542); Strawberries (544); Raspberries (547); Gooseberries (549); Currants (550); Blueberries (552); Cranberries (554); Berries not elsewhere specified (558); Grapes (560); Watermelons (567); Other melons (including cantaloupes) (568); Figs (569); Mangoes, mangosteens and guavas (571); Avocados (572); Pineapples (574); Dates (577); Persimmons (587); Cashew apple (591); Kiwi fruit (592); Papayas (600); Fresh tropical fruit not elsewhere specified (603); Fresh fruit not elsewhere specified (619) coff Green coffee (656); Cocoa beans (661); Tea (667); Mata (671); Tea not elsewhere specified (674) ocrp Hops (677); Pepper (piper spp.) (687); Dry chilies and peppers (689); Vanilla (692); Cinnamon (canella) (693); Cloves (698); Nutmeg, mace and cardamoms (702); Anise, badian, fennel and coriander (711); Ginger (720); Spices not elsewhere specified (723); Peppermint (748); Dried pyrethrum (754); Natural rubber (836); Natural gums (839) catt Cattle meat (867); Whole fresh cow milk (882); Indigenous cattle meat (944); Live weight cattle meat (945); Whole fresh buffalo milk (951); Whole fresh sheep milk (982); Whole fresh goat milk (1020); Whole fresh camel milk (1130) poul Chicken meat (1058); Duck meat (1069); Hen eggs in shell (1062); Indigenous duck meat (1070); Live weight duck meat (1071); Goose and guinea fowl meat (1073); Indigenous goose meat (1077); Live weight goose meat (1078); Turkey meat (1080); Indigenous bird meat not elsewhere specified (1084); Other live weight poultry meat (1085); Indigenous turkey meat (1087); Live weight turkey meat (1088); Bird meat not elsewhere specified (1089); Other bird eggs in shell (1091); Indigenous chicken meat (1094); Live weight chicken meat (1095) oliv Buffalo meat (947); Indigenous buffalo meat (972); Live weight buffalo meat (973); Sheep meat (977); Greasy wool (987); Indigenous sheep meat (1012); Live weight sheep meat (1013); Goat meat (1017); Indigenous goat meat (1032); Live weight goat meat (1033); Pig meat (1035); Indigenous pig meat (1055); Live weight pig meat (1056); Horse meat (1097); Ass meat (1108); Mule meat (1111); Indigenous horse meat (1120); Live weight horse meat (1121); Indigenous ass meat (1122); Live weight ass meat (1123); Indigenous mule meat (1124); Live weight mule meat (1125); Camel meat (1127); Indigenous camel meat (1137); Live weight camel meat (1138); Rabbit meat (1141); Indigenous rabbit meat (1144); Live weight rabbit meat (1145); Other rodent meat (1151); Indigenous rodent meat (1154); Live weight rodent meat (1155); Other camelid meat (1158); Indigenous other camelid meat (1161); Live weight other camelids meat (1162); Game meat (1163); Meat not elsewhere specified (1166); Snails (1176); Natural honey (1182); Beeswax (1183); Silk-worm cocoons (1185) 33 Table A3. Detailed Classification of the Government Account Government Financial Statistics Manual (IMF GFSM 2014) Nexus SAM Entries* Code Description Row Column 1 Revenue 11 Taxes 111 Taxes on income, profits, and capital gains 1111 Payable by individuals dtax hhd-__ 1112 Payable by corporations and other enterprises dtax ent 1113 Other taxes on income, profits, and capital gains dtax ent 112 Taxes on payroll and workforce ftax flab-__ 113 Taxes on property ftax fcap-_ 114 Taxes on goods and services stax c____ 115 Taxes on international trade and transactions 1151 Customs and other import duties mtax c____ 1152 Taxes on exports etax c____ 1153 Profits of export or import monopolies mtax c____ 1154 Exchange profits mtax c____ 1155 Exchange taxes mtax c____ 1156 Other taxes on international trade and transactions mtax c____ 116 Other taxes dtax ent 12 Social contributions 121 Social security contributions 1211 Employee contributions gov hhd-__ 1212 Employer contributions gov ent 1213 Self-employed or unemployed contributions gov hhd-__ 1214 Unallocable contributions gov hhd-__ 122 Other social contributions 1221 Employee contributions gov hhd-__ 1222 Employer contributions gov ent 1223 Imputed contributions gov hhd-__ 13 Grants gov row 14 Other revenue 141 Property income gov ment 142 Sales of goods and services gov hhd-__ 143 Fines, penalties, and forfeits gov hhd-__ 144 Transfers not elsewhere classified gov hhd-__ 145 Premiums, fees, and nonlife insurance claims gov ment 2 Expense 21 Compensation of employees c____ gov 22 Use of goods and services c____ gov 23 Consumption of fixed capital c____ gov 24 Interest 241 To nonresidents row gov 242 To residents other than general government ent gov 243 To other general government units ent gov 25 Subsidies ent gov 26 Grants row gov 27 Social benefits hhd-__ gov 28 Other expense ent gov * Table 4 describes the Nexus SAM codes. 34 Table A5. Detailed Classification of the Rest of World Account Balance of Payments (IMF BOP6) Nexus SAM Entries* Code Description Row Column BCA Current account BGS Goods and services BG Goods BXG Credit c____ row BMG Debit row c____ BS Services BXS Credit c____ row BXSR Maintenance and repair services n.i.e. ctrad row BXSTR Transport ctran row BXSTV Travel chotl row BXSOCN Construction services ccons row BXSOIN Insurance and pension services cfsrv row BXSOFI Financial services cfsrv row BXSORL Charges for the use of intellectual property n.i.e. cbsrv row BXSOTCM Telecommunication, computer, and information services cbsrv row BXSOOB Other business services cbsrv row BXSOPCR Personal, cultural, and recreational services cosrv row BXSOGGS Government goods and services n.i.e. cpadm row BMS Debit row c____ BMSR Maintenance and repair services n.i.e. row ctrad BMSTR Transport row ctran BMSTV Travel row chotl BMSOCN Construction services row ccons BMSOIN Insurance and pension services row cfsrv BMSOFI Financial services row cfsrv BMSORL Charges for the use of intellectual property n.i.e. row cbsrv BMSOTCM Telecommunication, computer, and information services row cbsrv BMSOOB Other business services row cbsrv BMSOPCR Personal, cultural, and recreational services row cosrv BMSOGGS Government goods and services n.i.e. row cpadm BIP Primary income BXIP Credit BXIPCE Compensation of employees flab-__ row BXIPI Investment income fcap-_ row BXIPO Other primary income fcap-_ row BMIP Debit BMIPCE Compensation of employees row flab-__ BMIPI Investment income row fcap-_ BMIPO Other primary income row fcap-_ BIS Secondary income BXIS Credit BXISG General government gov row BXISO Financial and nonfinancial corporations, households, and NPISHs BXISOPT Personal transfers hhd-__ row BXISOOT Other current transfers ent row BMIS Debit BMISG General government row gov BMISO Financial and nonfinancial corporations, households, and NPISHs BMISOPT Personal transfers row hhd-__ BMISOOT Other current transfers row ent * Table 4 describes the Nexus SAM codes, and Table 1 describes the activities and commodities.