Provincial and Territorial Gross Domestic Product (GDP) by Income and by Expenditure Accounts

Gross domestic product at basic prices of economy, component

Gross Domestic Product at basic prices refers to the total unduplicated value, at basic prices, of the goods and services produced in the economic territory of a country or region during a given period. GDP at basic prices is GDP at market prices minus taxes less subsidies on products; it is also equal to the traditional value at factor cost plus taxes less subsidies on the factors of production (labour and capital).

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