Scoping study to develop a set of Supply Use Tables for Northern Ireland


GDP measured using the Income approach



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GDP measured using the Income approach

Gross Value added (GDP at basic prices) is also equal to the costs of employment (wages, national insurance and pension contributions), any taxes, less subsidies, levied upon production (e.g. business rates, vehicle excise duty) and Gross Operating Surplus (broadly analogous to profit). The following shows the calculation of GVA (income approach):




Calculation of GDP (Income approach)

Compensation of Employees

A

+ Taxes, less subsidies, on production

B

+ Gross Operating Surplus

C

= Gross Value Added at basic prices

A+B+C

+ Taxes less subsidies on products

D

= Gross Domestic Product at market prices

A+B+C+D






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