Gross domestic product

Gross domestic product is a measure of the market value of the final result of the productive activity in the economy for a certain period. It is calculated by three approaches. The production approach shows the production of the value added by all resident producers of goods and services. The income approach shows the originating of the primary incomes of the participants in the production process. The final expenditure approach shows the value of goods and services used for individual and colective consumption of households and society, for investments and inventories, for foreign trade. The market value of GDP is calculated directly by the final expenditure approach, and by production and income approaches the item Adjustments is added.