Relation between gross domestic product and gross national product (at current prices; thsd euro)
Gross domestic product (GDP)
Gross domestic product (GDP) represents the total amount of end products and services produced in the territory of a country within a year. GDP is calculated on the basis of data on domestic production (at current and constant prices), expenditure (at current and constant prices) and income (only at current prices).
GDP from the production approach is calculated as the sum of all value added of all activities producing goods or providing services plus taxes less subsidies on products.
GDP from the expenditure approach consists of all final expenditure made in either consuming the final output of the economy or in adding to wealth plus exports less s imports of goods and services.
GDP from the income approach is calculated as the sum of income earned via production of all goods and services plus taxes on production and imports less subsidies.
GDP revisions in 2019:
Gross national income
Gross National Income characterises income from economic activities of residents.
Gross National Income equals GDP plus property income, compensation of employees and subsidies receivable from other countries minus property income, compensation of employees and taxes from production and import payable to other countries.