Gross state product
Overview
Province
A province is a territorial unit, almost always an administrative division, within a country or state.-Etymology:The English word "province" is attested since about 1330 and derives from the 13th-century Old French "province," which itself comes from the Latin word "provincia," which referred to...
(i.e., of a subnational entity). It is the sum of all value added
Value added
In economics, the difference between the sale price and the production cost of a product is the value added per unit. Summing value added per unit over all units sold is total value added. Total value added is equivalent to Revenue less Outside Purchases...
by industries within the state and serves as a counterpart to the gross domestic product
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
or GDP.
Conceptually, there is no difficulty in taking the definition of GDP for a nation and applying it to a smaller jurisdiction such as a state, or even a local government area.
Unanswered Questions
Encyclopedia
Gross state product is a measurement of the economic output of a state or province
(i.e., of a subnational entity). It is the sum of all value added
by industries within the state and serves as a counterpart to the gross domestic product
or GDP.
Conceptually, there is no difficulty in taking the definition of GDP for a nation and applying it to a smaller jurisdiction such as a state, or even a local government area. In practice, however, flows of goods, services, labour and capital across state boundaries (i.e., flows within a nation) are generally not measured with any great accuracy. By contrast, flows across national boundaries are normally recorded as part of the ordinary operations of government. As a result, it is often hard to measure the value added within a state, since this requires netting out 'imports' from other states, and including 'exports' to other states. Similarly, it is difficult to measure the income accruing to factors of production (labour and capital) within a given state.
Province
A province is a territorial unit, almost always an administrative division, within a country or state.-Etymology:The English word "province" is attested since about 1330 and derives from the 13th-century Old French "province," which itself comes from the Latin word "provincia," which referred to...
(i.e., of a subnational entity). It is the sum of all value added
Value added
In economics, the difference between the sale price and the production cost of a product is the value added per unit. Summing value added per unit over all units sold is total value added. Total value added is equivalent to Revenue less Outside Purchases...
by industries within the state and serves as a counterpart to the gross domestic product
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....
or GDP.
Conceptually, there is no difficulty in taking the definition of GDP for a nation and applying it to a smaller jurisdiction such as a state, or even a local government area. In practice, however, flows of goods, services, labour and capital across state boundaries (i.e., flows within a nation) are generally not measured with any great accuracy. By contrast, flows across national boundaries are normally recorded as part of the ordinary operations of government. As a result, it is often hard to measure the value added within a state, since this requires netting out 'imports' from other states, and including 'exports' to other states. Similarly, it is difficult to measure the income accruing to factors of production (labour and capital) within a given state.
See also
- List of country subdivisions by GDP over 100 billion US dollars
- List of country subdivisions by GDP (PPP)
- List of Argentine provinces by GSP
- List of Australian states by GSP
- List of Brazilian states by GSP
- List of Canadian provinces by GSP
- List of Chilean regions by GSP per capita
- List of China administrative divisions by GDP
- List of Indian states by GSPStates of India by size of economyThis page lists Indian states and major cities by their nominal gross domestic product . It also displays each state's level of annual GDP growth, as recorded between 1999 and 2007, and the level of growth in GDP per capita, as recorded between 2004 and 2011.-List of states:This is a list of states...
- List of Mexican states by GSP
- List of Spanish autonomous communities by GSP per capitaRanked list of Spanish autonomous communitiesThis article includes several ranked indicators for Spain's autonomous communities.-By area:Spanish autonomous communities by their area.Source: Unknown.-By population:Spanish autonomous communities by their population as of January 1, 2011....
- List of U.S. states by GSP
- Comparison between U.S. states and countries nominal GDPComparison between U.S. states and countries nominal GDPThis is a comparison between US states and countries' nominal Gross Domestic Product. Many of the states of the United States have large Gross Domestic Product which would rank highly on a list of countries world GDP...
- Comparison between U.S. states and countries by GDP (PPP)Comparison between U.S. states and countries by GDP (PPP)This is a comparison between U.S. states and countries by Gross Domestic Product . Many of the states of the United States have large Gross Domestic Product which would rank highly on a list of countries world GDP...
- Gross State Domestic Product of Indian states