Statistics that measures the size of a region's economy
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.[1]
"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."[2]
^"NSCB - Technical Notes - Gross Regional Domestic Product (GRDP)". Archived from the original on 2008-01-05. Retrieved 2008-01-09.
^"Evis.net.ph - evis Resources and Information". Archived from the original on 2008-07-07.
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