GDP - gross domestic product - is the market value of all goods and services intended for direct consumption, which were produced during the year in all industries in the territory of the country for consumption, export or accumulation. This is one of the main indicators of the state's economy. This indicator is calculated as nominal and real - adjusted for inflation. Typically, GDP is calculated quarterly and annually.
It is necessary
Statistical data by sectors of the economy for the required period, it is desirable to use specialized programs to facilitate the calculation. Directly for the calculation, you should choose one of three methods
Instructions
Step 1
To calculate GDP using the value added method, only the value of final goods and services should be calculated, excluding intermediate goods that would entail double counting. In this case, the added value is the market price of the company's products, minus raw materials and materials, therefore, in the calculation of GDP, only the sums at the market price of all manufactured goods and services rendered are used.
Step 2
To calculate GDP by expenditure, all expenditures of economic entities for the purchase of final products should be summed up. This method is used to summarize consumer spending of the population, private investment in the national economy, government purchases of goods and services, and net exports of the country.
Step 3
To calculate GDP by income, all income of owners of factors of production operating within the geographical framework of the country, both residents and non-residents, should be summed up. This method adds up wages, social security contributions, gross margins, gross mixed income, taxes on production and imports less subsidies.
