Gross regional domestic product
Topic: Finance
From HandWiki - Reading time: 2 min
Gross regional domestic product (GRDP), gross domestic product of region (GDPR), or gross state product (GSP) is a statistic that measures the size of a region's economy. It is the aggregate of gross value added (GVA) of all resident producer units in the region, and analogous to national gross domestic product. The GRDP includes regional estimates on the three major sectors including their sub-sectors, namely:
- Raw material sector: Agriculture, animal husbandry, fishery, and forestry.
- Industry sector: Construction, electricity, manufacturing, mining, quarrying, and water.
- Service sector: Communication, finance, private government services, property management, real estate sales, storage, trade, and transport.[1]
"The GRDP is usually presented in nominal and real terms. Nominal GRDP measures the value of the outputs of the economy at current prices. Real GRDP referred to as GRDP at constant prices, measures the value of an economy's output using the prices of a fixed base year. The real GRDP is useful in capturing real output growth since inflationary effects have been removed. It is, therefore, the most widely used measure of real income."[2]
See also
- Gross metropolitan product
- Gross regional product
- List of Chinese administrative divisions by GDP
- List of Chinese administrative divisions by GDP per capita
- List of cities by GDP
- List of EU metropolitan areas by GDP
- List of European Union regions by GDP
- List of German states by GRP
- List of Indonesian provinces by GDP
- List of Indonesian provinces by GRP per capita
- List of NUTS regions in the European Union by GDP
- List of Russian federal subjects by GRP
- List of U.S. metropolitan areas by GDP
- List of U.S. metropolitan areas by GDP per capita
- List of U.S. states and territories by GDP
References
External links
- Eurostat – Statistics Explained: GDP at regional level (European regions at NUTS 2 level)
- UNSTATS (2010) Gross regional product (GRP): an introduction
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