Page 93 - Niên giám

EXPLANATION OF TERMINOLOGY, CONTENT
AND METHODOLOGY OF SOME STATISTICAL

INDICATORS ON GROSS REGIONAL DOMESTIC PRODUCT,
STATE BUDGET AND INSURANCE

GROSS REGIONAL DOMESTIC PRODUCT

Gross regional domestic product (GRDP) reflects the final result
of production performed by locally residential production units. At the
level of provinces/cities under the central government, GRDP is calculated
by production approach. Accordingly, GRDP is the sum of the value

added at basic price of all economic activities plus taxes on products less
subsidises on products.

Value added is the value of goods and services newly generated by
economic activities in a given period. The value added is a component of
gross output and it equals to difference between gross output and
intermediate consumption. The value added is measured at current and
constant prices;

Basic price is the amount of money received by the producer
through sale of produced goods or services, exclusive of taxes on products
and inclusive of subsidies on products. The basic price does not include
transport and trade margins which is not paid by the producers in process
of selling their products;

The value added is calculated at the basic price. The GRDP is
always valued at the market price.

GRDP is calculated at current and constant prices:

GRDP at current prices is often used to study the economic

structure, the proportioned relationship among production activities, the
relationship between the production output and the State budget
contribution.

90