What is GDP? What are methods xem bóng đá trực tiếp vtv2 calculating GDP? How to calculate product tax at constant prices in Vietnam?
What is GDP?
GDP (Gross Domestic Product) is an index measuring the value xem bóng đá trực tiếp vtv2 the final products and services produced within the territory xem bóng đá trực tiếp vtv2 a nation over a specific period, typically a year or quarter. GDP does not include the value xem bóng đá trực tiếp vtv2 intermediate products used during the production process.
- Usage Perspective (Expenditure):
GDP is calculated based on the total demand xem bóng đá trực tiếp vtv2 an economy, including:
+ Final consumption xem bóng đá trực tiếp vtv2 households.
+ Final consumption xem bóng đá trực tiếp vtv2 the State.
+ Asset accumulation (investment).
+ Difference between exports and imports (trade balance).
- Income Perspective:
GDP includes the total income from production activities, comprising:
+ Income xem bóng đá trực tiếp vtv2 laborers.
+ Production taxes.
+ Depreciation xem bóng đá trực tiếp vtv2 fixed assets.
+ Production surplus value.
- Production Perspective:
+ GDP equals the production value minus the intermediate costs in the production process.
Significance xem bóng đá trực tiếp vtv2 GDP:
- Measures the health xem bóng đá trực tiếp vtv2 an economy.
- Provides a basis for assessing living standards and labor productivity.
- Serves as a tool for formulating macroeconomic policies.
GDP plays an essential role in reflecting a nation’s economic capacity as well as its socio-economic development level.
The Gross Domestic Product is the value xem bóng đá trực tiếp vtv2 the final physical products and services created by the economy within a specific period. This implies that GDP does not account for the values xem bóng đá trực tiếp vtv2 physical products and services that have been used in intermediate stages during the production process xem bóng đá trực tiếp vtv2 creating products. GDP expresses the production result generated by resident units within a nation's economic territory.
What is GDP? What are methods xem bóng đá trực tiếp vtv2 calculating GDP? How to calculate product tax at constant prices in Vietnam? (Image from the Internet)
How to calculate GDP xem bóng đá trực tiếp vtv2 Vietnam?
Based on Appendix I xem bóng đá trực tiếp vtv2 the content xem bóng đá trực tiếp vtv2 statistical indicators in the national statistical indicator system issued withDecree 94/2022/ND-CP, regulations specify the method xem bóng đá trực tiếp vtv2 calculating GDP as follows:
The general content xem bóng đá trực tiếp vtv2 GDP is examined from various perspectives:
- From a usage (expenditure) perspective: GDP is the total demand xem bóng đá trực tiếp vtv2 the economy, comprising final consumption xem bóng đá trực tiếp vtv2 households and the State, asset accumulation, and the difference in goods and services imports and exports.
- From an income perspective: GDP includes income xem bóng đá trực tiếp vtv2 laborers from production, production tax, fixed asset depreciation used in production, and production surplus value in the period.
- From a production perspective: GDP equals production value minus intermediate costs.
Calculation methods:
GDP at Current Prices
There are 3 methods to calculate Gross Domestic Product at current prices.
(1) Production Method:
GDP equals the total added value at basic prices xem bóng đá trực tiếp vtv2 all sectors, areas, types xem bóng đá trực tiếp vtv2 economy, and territories plus product taxes minus product subsidies.
Calculation Formula:
| GDP = Total Added Value at Current Prices + Product Tax - Product Subsidy |
Where:
Added Value at Current Prices = Production Value at Current Prices - Intermediate Costs at Current Prices
(2) Income Method:
GDP is the total income generated from the factors participating in the production process such as labor, capital, land, and machinery. According to this method, Gross Domestic Product includes: Income xem bóng đá trực tiếp vtv2 laborers from business production (in cash and kind converted to cash), production tax (subsidies for production deducted), fixed asset depreciation used in production, and surplus/mixed income.
Calculation Formula:
| GDP = Income xem bóng đá trực tiếp vtv2 Laborers from Production + Production Tax (subsidies for production deducted) + Depreciation xem bóng đá trực tiếp vtv2 Fixed Assets Used in Production + Production Surplus or Mixed Income |
(3) Usage (Expenditure) Method:
GDP equals the total xem bóng đá trực tiếp vtv2 3 factors: Final consumption xem bóng đá trực tiếp vtv2 households and the State; asset accumulation (fixed assets, current assets, and rare assets) and the difference between exports and imports xem bóng đá trực tiếp vtv2 goods and services.
Calculation Formula:
| GDP = Final Consumption + Asset Accumulation + Difference in Goods and Services Imports and Exports |
GDP at Constant Prices
There are two methods to calculate the Gross Domestic Product at constant prices.
(1) Production Method:
GDP equals the total added value at constant prices xem bóng đá trực tiếp vtv2 all sectors, areas, types xem bóng đá trực tiếp vtv2 economy, and territories plus product taxes minus product subsidies at constant prices.
Calculation Formula:
| GDP at Constant Prices = Total Added Value at Constant Prices + Product Tax at Constant Prices - Product Subsidy at Constant Prices |
Where:
- Added Value at Constant Prices is calculated as follows:
Added Value at Constant Prices = Production Value at Constant Prices - Intermediate Costs at Constant Prices
+ Production Value at Constant Prices is calculated as follows:
Production Value at Constant Prices = Production Value at Current Prices (:) Corresponding price index xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
+ Intermediate Costs at Constant Prices are calculated as follows:
Intermediate Costs at Constant Prices = Production Value at Constant Prices x Intermediate Cost Ratio xem bóng đá trực tiếp vtv2 the comparable base year
- Product Tax at Constant Prices is calculated as follows:
Product Tax at Constant Prices = Value Added Tax xem bóng đá trực tiếp vtv2 types, other product taxes at constant prices + Import Tax at Constant Prices
Value Added Tax xem bóng đá trực tiếp vtv2 types, other product taxes at constant prices = Value Added Tax xem bóng đá trực tiếp vtv2 types, other product taxes at current prices (:) Deflator index xem bóng đá trực tiếp vtv2 added value xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
Import Tax at Constant Prices = Import Tax at Current Prices (:) Import price index by import goods group xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
- Product Subsidy at Constant Prices is calculated as follows:
Product Subsidy at Constant Prices = Product Subsidy at Current Prices (:) Deflator index xem bóng đá trực tiếp vtv2 added value xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
Deflator index xem bóng đá trực tiếp vtv2 added value xem bóng đá trực tiếp vtv2 the reporting period compared to the base period = Added value xem bóng đá trực tiếp vtv2 the reporting period at current prices (:) Added value xem bóng đá trực tiếp vtv2 the reporting period at constant prices
**(2) Usage Method: The Gross Domestic Product at constant prices equals the total xem bóng đá trực tiếp vtv2 final consumption at constant prices, asset accumulation at constant prices, and the difference in goods and service imports and exports at constant prices.
Calculation Formula:
| The Gross Domestic Product at Constant Prices = Final Consumption at Constant Prices + Asset Accumulation at Constant Prices - Difference in Goods and Service Imports and Exports at Constant Prices |
Where:
- Final Consumption at Constant Prices is calculated by dividing final consumption by product group xem bóng đá trực tiếp vtv2 goods and services by the consumer price index (CPI) or production price index for goods and services xem bóng đá trực tiếp vtv2 the reporting period compared to the base period xem bóng đá trực tiếp vtv2 the corresponding groups.
Asset Accumulation at Constant Prices is calculated using the following formula:
Asset Accumulation xem bóng đá trực tiếp vtv2 the reporting period by type xem bóng đá trực tiếp vtv2 asset at constant prices = Asset Accumulation xem bóng đá trực tiếp vtv2 the reporting period by type xem bóng đá trực tiếp vtv2 asset at current prices (:) Production price index by type xem bóng đá trực tiếp vtv2 asset xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
- Goods import and export at constant prices is calculated using the following formula:
Total Export/Import Value at Constant Prices = Total Export/Import Value at Current Prices xem bóng đá trực tiếp vtv2 the reporting year calculated in VND (:) Export/Import price index in VND xem bóng đá trực tiếp vtv2 the reporting year compared to the base year
Main Division
[1]Quarterly, 6 months, 9 months:
- Economic sector;
- Usage Purpose (asset accumulation/final consumption/export-import difference);
- Province, city under Central authority;
- Socio-economic regions.
[2]Yearly:
- Economic sector;
- Economic type;
- Usage Purpose (asset accumulation/final consumption/export-import difference);
- Province, city under Central authority;
- Socio-economic regions.
[3]Announcement Period: Quarter, 6 months, 9 months, year.
How to calculate product tax at constant prices in Vietnam?
Based on Appendix I xem bóng đá trực tiếp vtv2 the content xem bóng đá trực tiếp vtv2 statistical indicators in the national statistical indicator system issued withDecree 94/2022/ND-CP, regulations specify the method xem bóng đá trực tiếp vtv2 calculating product tax at constant prices as follows:
- Product tax at constant prices is calculated as follows:
Product Tax at Constant Prices = Value Added Tax xem bóng đá trực tiếp vtv2 Types, Other Product Taxes at Constant Prices + Import Tax at Constant Prices
Where:
Value Added Tax xem bóng đá trực tiếp vtv2 types, other product taxes at constant prices = Value Added Tax xem bóng đá trực tiếp vtv2 types, other product taxes at current prices (:) Deflator index xem bóng đá trực tiếp vtv2 added value xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
Import Tax at Constant Prices = Import Tax at Current Prices (:) Import price index by import goods group xem bóng đá trực tiếp vtv2 the reporting period compared to the base period
