Gross regional domestic product (GRDP), gross domestic product of region (GDPR), or gross state product (GSP) is a statistic that measures the size of a region's economy. It is the aggregate of gross value added (GVA) of all resident producer units in the region, and analogous to national gross domestic product. The GRDP includes regional estimates on the three major sectors including their sub-sectors, namely:
Raw material sector: Agriculture, animal husbandry, fishery, and forestry. Industry sector: Construction, electricity, manufacturing, mining, quarrying, and water. Service sector: Communication, finance, private government services, property management, real estate sales, storage, trade, and transport.
"The GRDP is usually presented in nominal and real terms. Nominal GRDP measures the value of the outputs of the economy at current prices. Real GRDP referred to as GRDP at constant prices, measures the value of an economy's output using the prices of a fixed base year. The real GRDP is useful in capturing real output growth since inflationary effects have been removed. It is, therefore, the most widely used measure of real income."
See also
Gross metropolitan product
Gross regional product
List of Chinese administrative divisions by GDP
List of Chinese administrative divisions by GDP per capita
List of cities by GDP
List of EU metropolitan areas by GDP
List of European Union regions by GDP
List of German states by GRP
List of Indonesian provinces by GDP
List of Indonesian provinces by GRP per capita
List of NUTS regions in the European Union by GDP
List of Russian federal subjects by GRP
List of U.S. metropolitan areas by GDP
List of U.S. metropolitan areas by GDP per capita
List of U.S. states and territories by GDP
References
External links
Eurostat – Statistics Explained: GDP at regional level (European regions at NUTS 2 level) UNSTATS (2010) Gross regional product (GRP): an introduction