Gross value added
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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].
[edit] 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:
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.
[edit] See also
- National accounts
- Measures of national income and output
- Gross domestic product
- Gross regional domestic product
- Value added
- Gross profit
[edit] References
- ^ http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Gross_value_added
- ^ http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Production_account
- ^ "Guide to Gross Value Added (GVA)". Office for National Statistics. 2002-11-15. http://www.statistics.gov.uk/cci/nugget.asp?id=254. Retrieved 2008-03-29.
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