Gross domestic product at market prices (GDP)

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Gross domestic product at market prices (GDP)

Gross domestic product at market prices is the final result of the productive activity of the resident units of production.

It can be defined in three ways:

a) GDP is equal to the sum of the gross added values of the various institutional sectors, or different branches of activity, plus taxes minus product subsidies (not assigned to the sectors and branches of activity). It is also equal to the balance of the production account of the total economy
b) GDP is equal to the sum of the final uses of goods and services of the resident institutional units (final consumption expenditure and gross capital formation), plus exports and minus imports of goods and services
c) GDP is equal to the sum of the uses of the trading account of the total economy (remuneration of waged workers, taxes minus production and import subsidies, gross trade surplus and mixed income of the total economy)

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