System of National Accounts 2008
Also called: SNA 2008 · Topic: National Income Accounting: GDP, GVA and Welfare · NCERT: Class 12, Ch 2 "National Income Accounting"
Meaning
The System of National Accounts 2008 (SNA 2008) is an international rulebook for measuring GDP and related figures. It was issued jointly by the UN, IMF, World Bank, OECD and EU. Countries that follow it measure things in the same way, so their figures can be compared. It was replaced by the 2025 SNA, which the UN Statistical Commission adopted in March 2025. The 2025 SNA pays more attention to digitalisation, well-being and sustainability.
Example
India adopted SNA 2008 in the January 2015 revision, when the base year moved to 2011-12. After this, the headline measure became GDP at market prices (the prices buyers actually pay), and each sector was reported as GVA at basic prices. Before, both had been at factor cost (only the payments to workers, owners and lenders, with no taxes).
Don't confuse with
- SEEA (System of Environmental-Economic Accounting): this is a separate UN standard. It links environmental data to the economic accounts.