25 Years IWH

Branches of economy

Gross domestic product, gross value added
Gross domestic product (GDP) includes the value of all goods and services produced in an economic area during a specific period of time. It is defined as an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). Gross value added (GVA), which is valued at basic prices, for each economic branch results from the gross production value at basic prices minus intermediate consumption at purchaser prices.

Source: Regional Accounts (VGR der Länder)

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