Page 109 - Niên giám 2021

EXPLANATION OF TERMINOLOGY, CONTENT AND
METHODOLOGY OF SOME STATISTICAL INDICATORS
ON GROSS REGIONAL DOMESTIC PRODUCT,
STATE BUDGET AND INSURANCE

GROSS REGIONAL DOMESTIC PRODUCT
Gross regional domestic product (GRDP) is the final result of production
performed by locally residential production units. At the level of provinces/cities
under the central government, GRDP is calculated by production approach.
Accordingly, GRDP is the sum of the value added at basic price of all economic
activities plus taxes on products less subsidises on products.
Value added is the value of goods and services newly generated by
economic activities in a given period. The value added is a component of gross
output and it equals to difference between gross output and intermediate
consumption. The value added is measured at current and constant prices;
Basic price is the amount of money received by the producer through
sale of produced goods or services, exclusive of taxes on products and
inclusive of subsidies on products. The basic price does not include transport
and trade margins which is not paid by the producers in process of selling their
products;
The value added is calculated at the basic price. The GRDP is always
valued at the market price.

GRDP is calculated at current and constant prices:
GRDP at current prices is often used to study the economic structure, the
proportioned relationship among production activities, the relationship between
the production output and the state budget contribution.
GRDP at constant prices which removes the price volatility over the
years is used to calculate the economic growth rate in the locality, and to study
changes in the volume of produced goods and services.

STATE BUDGET
Local State budget revenues (provinces/cities directly under the central
government) are all revenues mobilized into the budget fund in a given period
to meet the spending needs of the local government.

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