Satellite Account of Non-profit Institutions and Volunteering

Gross domestic product (income-based) of economy, component

Gross domestic product (income-based) refers to the total unduplicated value of the goods and services produced in the economic territory of a country or region during a given period, calculated based on the sum of compensation of employees, gross operating surplus, gross mixed incomes, taxes on production, taxes on imports less subsidies on production, and subsidies on imports. It is expressed at market prices, a valuation in terms of the prices actually paid by the purchaser after all applicable taxes and subsidies.

Economy refers to the entire set of resident institutional units. It is divided into sectors that consists of groups of resident institutional units. An institutional unit is resident in a country when it has a centre of economic interest in the economic territory of that country. It is said to have a centre of economic interest when there exists some location - dwelling, place of production or other premises - within the economic territory on, or from, which it engages, and intends to continue to engage, in economic activities and transactions on a significant scale either indefinitely or over a finite period of time.

The data for this variable are reported using the following classifications and/or lists:

• Components of Income-based Gross Domestic Product