Gross value added: Difference between revisions

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Gross value added (GVA) is a measure in economics of the value of goods and services produced in an area, industry or sector of an economy. In national accounts GVA is output minus intermediate consumption^[1]; it is a balancing item of the national accounts' production account^[2].

Relationship to gross domestic product

GVA is linked as a measurement to gross domestic product (GDP), as both are measures of output. The relationship is defined as:

GVA + taxes on products - subsidies on products = GDP

As the total aggregates of taxes on products and subsidies on products are only available at whole economy level,^[3] Gross value added is used for measuring gross regional domestic product and other measures of the output of entities smaller than a whole economy.

References

^ http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Glossary:Value_added
^ http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Glossary:Production_account
^ "Guide to Gross Value Added (GVA)". Office for National Statistics. 2002-11-15. Retrieved 2008-03-29.

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[1] ttp://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Glossary:Value_added

[2] ttp://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Glossary:Production_account

[3] "Guide to Gross Value Added (GVA)". Office for National Statistics. 2002-11-15. Retrieved 2008-03-29.

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@@ Line 6: / Line 6: @@
 :GVA + [[tax]]es on products - [[Subsidy|subsidies]] on products = GDP
-As the total aggregates of taxes on products and subsidies on products are only available at whole economy level,<ref>{{cite web|url=http://www.statistics.gov.uk/cci/nugget.asp?id=254|title=Guide to Gross Value Added (GVA)|accessdate=2008-03-29|date=2002-11-15|publisher=[[Office for National Statistics]]}}</ref> Gross value added is used for measuring [[gross regional domestic product]] and other measures of the output of entities smaller than a whole economy.
+As the total aggregates of taxes on products and subsidies on products are only available at whole economy level,<ref>{{cite web|url=http://www.ons.gov.uk/ons/guide-method/method-quality/specific/economy/national-accounts/gva/gross-value-added-and-gross-domestic-product.html|title=Guide to Gross Value Added (GVA)|accessdate=2008-03-29|date=2002-11-15|publisher=[[Office for National Statistics]]}}</ref> Gross value added is used for measuring [[gross regional domestic product]] and other measures of the output of entities smaller than a whole economy.
 ==See also==