Gross domestic product (GDP) at market prices is the final result of the production activity of resident producer units. It is defined as the value of all goods and services produced less the value of any goods or services used in their creation. The ESA 2010 (European System of Accounts) regulation may be referred to for more specific explanations on methodology. Data are presented in million units of national currency.
Gross domestic product (GDP) at market prices is the final result of the production activity of resident producer units. It is defined as the value of all goods and services produced less the value of any goods or services used in their creation. The ESA 2010 (European System of Accounts) regulation may be referred to for more specific explanations on methodology. Data are seasonally adjusted and presented in million units of national currency.
Gross fixed capital formation (GFCF) consists of resident producers' acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by the productive activity of producer or institutional units. GFCF includes acquisition less disposals of, e.g. buildings, structures, machinery and equipment, mineral exploration, computer software, literary or artistic originals and major improvements to land such as the clearance of forests. The MIP auxiliary indicator is expressed as a percentage of GDP. In the table, values are also presented in current prices, in million euros, and in current prices, in millions of national currency units. Input data are obtained from official national accounts country data, transmitted through the ESA 2010 transmission programme.
The indicator is calculated as the ratio of real gross domestic product to the average population of a specific year. GDP measures the value of total final output of goods and services produced by an economy within a certain period of time.