National Income Formulas
National Income Formulas
- GVA at basic prices = CE + OS/MI + CFC + Production taxes less production subsidies
- GVA at factor cost (earlier referred to as GDP at factor cost) = GVA at basic prices – Production taxes less production subsidies
- GDP = ΣGVA at basic prices + Product taxes – Product subsidies
- NDP / NNI = GDP / GNI – CFC
- GNI = GDP + Net primary income from ROW (receipts less payments)
- Primary incomes = CE + Property and Entrepreneurial Income
- NNDI =NNI + other current transfers from ROW, net (receipts less payments)
- GNDI = NNDI + CFC = GNI + other current transfers from ROW, net (receipts less payments)
- Gross capital formation Gross savings + Net capital inflow from ROW
- GCF=GFCF+CIS+ Valuables + ‘Errors and Omissions’
- Gross disposable income of government = GFCE + Gross saving of GG
- Gross disposable income of households = GNDI – GDI of government – Gross savings of all corporations
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IMPORTANT ACRONYMS AND FORMULAE FOR NATIONAL INCOME
- GDP = Gross Domestic Product
- GVA = Gross Value Added
- GNI = Gross National Income
- NDP = Net Domestic Product
- NNI = Net National Income
- GNDI = Gross National Disposable Income
- PFCE = Private Final Consumption Expenditure
- GFCE = Government Final Consumption Expenditure
- CFC = Consumption of Fixed Capital
- GFCF = Gross Fixed Capital Formation
- CIS = Changes in Stock
- CE = Compensation of Employees
- OS = Operating Surplus
- MI = Mixed Income
- ROW = Rest of the World
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