Gross value added

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Gross Value Added or GVA is a measure in economics of the value of goods and services produced in an area or sector of an economy.[1]

[edit] Relationship to Gross Domestic Product

GVA is linked as a measurement to Gross Domestic Product (GDP), as both are measures of output. The relationship is defined as:

GVA + taxes on products - subsidies on products = GDP

As the total aggregates of taxes on products and subsidies on products are only available at whole economy level,[2] Gross Value Added is used for measuring Gross regional domestic product and other measures of the output of entities smaller than a whole economy.

[edit] See also

[edit] References

  1. ^ Gross Value Added (GVA) Briefing Paper (pdf). Kent County Council (2007-10-29). Retrieved on 2008-03-29.
  2. ^ Guide to Gross Value Added (GVA). Office for National Statistics (2002-11-15). Retrieved on 2008-03-29.
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