Basic prices
Are the amount receivable by the producer from the purchaser for a unit of a good or service produced as output minus any tax payable, and plus any subsidy receivable, on that unit as a consequence of its production or sale. It excludes any transport charges invoiced separately by the producer.
Gross Domestic Product (GDP)
Is the total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production, but before deducting allowances for the consumption of fixed capital. Thus gross domestic product, as here defined, is 'at market prices'. Consumption of fixed capital (or depreciation) represents the decline in the current value of the producer’s stock of fixed assets as a result of physical deterioration, foreseen obsolescence or normal accidental damage. Net Domestic Product (NDP) is the result after deducting depreciation from GDP.
Gross Operating Surplus (GOS)
Is a measure of the surplus accruing to owners from processes of production. It is the excess of gross output over the sum of intermediate consumption, compensation of employees, and taxes less subsidies on production and imports. It is calculated before deduction of consumption of fixed capital, dividends, interest, royalties and land rent, and direct taxes payable, but after deducting the inventory valuation adjustment.
Gross Output
Represents the value of goods and services that are produced within an establishment that become available for use outside the establishment.
Gross Value Added (GVA)
Is defined as the value of output at basic prices minus the value of intermediate consumption at purchasers' prices. The term is used to describe gross product by industry (IGVA) and by sector. Basic prices valuation of output removes the distortion caused by variations in the incidence of commodity taxes and subsidies across the output of individual industries. See also Intermediate consumption.
Intermediate Inputs (II) (alternately Intermediate Consumption or Total Intermediate Use TIU)
Consists of the value of the goods and services consumed as inputs by a process of production, excluding the consumption of fixed capital. See also Gross value added.
Primary Inputs
Refers to compensation of employees, operating surplus and other taxes less subsidies on production.
Production boundary
Is defined to include:
- The production of all individual or collective goods or services that are supplied to units other than their producers, or intended to be so supplied, including the production of goods or services used up in the process of producing such goods or services;
- The own-account production of all goods that are retained by their producers for their own final consumption or gross capital formation; and
- The own-account production of housing services by owner-occupiers and of domestic and personal services produced by employing paid domestic staff.
Print Page
Print All