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National Accounts & Production

National Accounts is an accounting framework which presents the operation of the nation’s economy in much the same ways business accounts describe the operation of an enterprise. Based on a set of internationally agreed concepts, definitions, and classifications and accounting rules. The main building blocks in the system of national accounts are classifications. One such classification used is the The International Standard Industrial Classification of All Economic Activities (ISIC. REV.4). The Classification system also guarantees comparability over time and internationally. An important aggregate generated from the system of national Accounts (SNA) is the Gross Domestic Product (GDP).