Gross value added
Institute of National Accounts (INA) (Instituut voor de Nationale Rekeningen (INR))
Gross value added: the difference between the market value of the goods and services produced in a given year and the market value of the goods and services used in the production process. In other words, the value added to the consumed or intermediate goods and services by the factors of production, i.e. labour and capital.
This is 'gross' value added, i.e. consumption of fixed capital (i.e. depreciation) is included.
The production price valuation is calculated based on basic prices. This means that production does not include the value added tax charged by the producer, or any other product-related taxes such as excise duties. Product-related subsidies, however, are included.
Gross value added is expressed in current prices. That is to say, prices for the year in question, not adjusted for inflation. Any increase in value is due to an increase in volume and/or unit prices.
The economy is divided into 38 sectors following the so-called A38 classification.
Remarks on quality
The ESA 2010 (European System of Accounts) guarantees a comparable format for the aggregate across countries. The data for the last few years may be revised as new statistical information becomes available (from annual reports, information on the actors involved, etc.) and for the purpose of alignment with the national accounts, which may also be revised.
Institute of National Accounts (INA) (Instituut voor de Nationale Rekeningen (INR)): Regional accounts