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EXPLANATION OF TERMINOLOGY,
CONTENT AND METHODOLOGY OF SOME STATISTICAL
INDICATORS ON GROSS REGIONAL DOMESTIC PRODUCT,
STATE BUDGET, BANKING AND INSURANCE

GROSS REGIONAL DOMESTIC PRODUCT

Gross regional domestic product (GRDP) is the value of final physical
products and services produced in provinces/cities under the central government
over a given period of time. 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 (VA) is an economic indicator reflecting the new value of
goods and services that was produced in an economy in a given period. VA, a
component of gross output, is the difference between gross output and

intermediate consumption. Value added is measured at current and constant
price.

The basic price is the amount receivable by the producer through sale of
goods or services produced exclusive of taxes on products and inclusive of
subsidies on products. It excludes transport and trade margins invoiced separately
by the producers.
Value added is computed at the basic price. GRDP is always valued at the

purchaser’s price.
GRDP is calculated at current and constant prices.

GRDP by current prices is used to study the economic structure, the inter-
industries relationship, relationship between the production results and state
budget mobilization.

GRDP by constant prices removing the factor of price changes is used to
calculate the economic growth rate in the locality and to study the changes in
goods and services quantities.

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