GDP By Industry
From Open Risk Manual
Definition
GDP By Industry. GDP by industry is the contribution of each private industry and of government to the nation’s output, or GDP.
An industry's GDP, or its "value added," is equal to its gross output (which consists of sales or receipts and other operating income, commodity taxes, and inventory change) minus its intermediate inputs (which consist of energy, raw materials, semifinished goods, and services that are purchased from domestic industries or from foreign sources).
An industry's GDP can also be measured as the sum of incomes related to production, such as wages and salary accruals and gross operating surplus.[1]
References
- ↑ Concepts and Methods of the US Input-Output Accounts. K.J.Horowitz, M.A.Planting, 2009
