GDP STRUCTURES AND MEASUREMENT

ERAZMUS 2013-2014

METHODS FOR CALCULATING GDP

Σ(Ri-MSi) = Σ (Wj + Pj + Rj) = C + I + G + (E- IM) 

value added = incomes = final demand

with:Ri, Msi – sales and material costs of productive unit i,Wj, Pj, Rj – salaries, profits and rents of people engaged in production,C – personal consumption, I - investments, G – government consumption, E – exports and IM - imports  

GDP STRUCTURES

PRODUCTION INCOMES FINAL DEMAND

Value added Salaries Private ConsumptionIndustrial Sectors Dividends Gross Investments(A-F) Retained Profits Government cons.Services Depreciation Exports(G-O) - ImportsGDP, factor prices GDP, factor prices + indirect taxes + indirect taxes - subsidies - subsidiesGDP, market prices GDP, market prices GDP, market prices - incomes incomesGNP, market prices GNP market, prices- capital depletionNNP, market prices

 

THE GDP STRUCTURES IN 2009

EMU EU27 Slovenia SEEcountriesGDP (bill. €) 8963 11790 35.1 109.1

VALUE ADDED (% of GDP)Agriculture 1.6 1.7 2.1 10.72008

Industry 20.7 20.6 22.4 26.2Services 77.7 77.4 75.5 62.1INCOMES (% of GDP)Wages 49.4 50.0 53.1Gross profits 39.3 38.6 35.0Indirect taxes 11.2 11.4 12.0FINAL DEMAND (% of GDP)Private consumption 57.7 58.4 55.4 85.22008

Government consumption 22.1 22.4 20.3 18.8Investments 18.9 18.2 23.0 29.1Exports 36.3 36.5 58.1 23.1Imports -35.0 -35.6 -56.8 -57.1

GDP MEASUREMENT PROBLEMS Slovenia 1987-1993

1987 1988 1989 1990 1991 1992 1993GDP billionsDin, Sit 0.905 2.709 34.94 196.1 349.6 995.1 1310Retail sale prices 2.4 7.1 100 649 1412 4351 5777Producers prices 2.4 6.6 100 490 1099 3544 4328

GDP in 1989 prices 37.7 38.1 34.9 30.1 24.7 22.8 22.941.1 41.0 34.9 40.0 31.8 28.1 30.9

US$/DinSIT 0.074 0.252 2.89 11.32 27.57 81.30 115.

GDP v mil. US$ 12280 10739 12112 17326 12678 12240 11141

population 000 1989 2000 1999 1998 2001 1996 1994

GDP/ cap. US$ 6172 5369 6068 8671 6334 6133 5722