Page 84 - NGTK2018

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.
GRDP at constant prices which removes the price volatility over the years is
used to calculate the economic growth rate in the locality, and to study changes
in the volume of produced goods and services.

STATE BUDGET
Local State budget revenues (provinces, cities directly under the central
government) are all revenues mobilized into the budget fund in a given period to
meet the spending needs of the local government.
Local state budget expenditures (provinces, cities directly under the central
government management) are all expenditures in a given period for performing
functions and tasks of the local government and expenditures of the central agencies
located in the provinces/cities directly under the central government.

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