Approaches of domestic product (GDP); National Accounts

Approaches of domestic product (GDP); National Accounts

Periods GDP from the final expenditure Value at current prices National final expenditure Total (million euros) GDP from the final expenditure Value at current prices National final expenditure Final consumption expenditure Total (million euros) GDP from the final expenditure Value at current prices National final expenditure Final consumption expenditure Households and NPISHs (million euros) GDP from the final expenditure Value at current prices National final expenditure Final consumption expenditure General government (million euros) GDP from the final expenditure Value at current prices National final expenditure Gross fixed capital formation Total (million euros) GDP from the final expenditure Value at current prices National final expenditure Gross fixed capital formation Corporations and households (million euros) GDP from the final expenditure Value at current prices National final expenditure Gross fixed capital formation General government (million euros) GDP from the final expenditure Value at current prices National final expenditure Changes in inventories incl. valuables (million euros) GDP from the final expenditure Value at current prices Exports of goods and services Total (million euros) GDP from the final expenditure Value at current prices Exports of goods and services Exports of goods (million euros) GDP from the final expenditure Value at current prices Exports of goods and services Exports of services (million euros) GDP from the final expenditure Value at current prices Imports of goods and services (-) Total (million euros) GDP from the final expenditure Value at current prices Imports of goods and services (-) Imports of goods (million euros) GDP from the final expenditure Value at current prices Imports of goods and services (-) Imports of services (million euros) GDP from the final expenditure Value at current prices Gross domestic product (million euros) GDP from the final expenditure Volume changes on previous year National final expenditure Total (%) GDP from the final expenditure Volume changes on previous year National final expenditure Final consumption expenditure Total (%) GDP from the final expenditure Volume changes on previous year National final expenditure Final consumption expenditure Households and NPISHs (%) GDP from the final expenditure Volume changes on previous year National final expenditure Final consumption expenditure General government (%) GDP from the final expenditure Volume changes on previous year National final expenditure Gross fixed capital formation Total (%) GDP from the final expenditure Volume changes on previous year National final expenditure Gross fixed capital formation Corporations and households (%) GDP from the final expenditure Volume changes on previous year National final expenditure Gross fixed capital formation General government (%) GDP from the final expenditure Volume changes on previous year National final expenditure Changes in inventories incl. valuables (%) GDP from the final expenditure Volume changes on previous year Exports of goods and services Total (%) GDP from the final expenditure Volume changes on previous year Exports of goods and services Exports of goods (%) GDP from the final expenditure Volume changes on previous year Exports of goods and services Exports of services (%) GDP from the final expenditure Volume changes on previous year Imports of goods and services (-) Total (%) GDP from the final expenditure Volume changes on previous year Imports of goods and services (-) Imports of goods (%) GDP from the final expenditure Volume changes on previous year Imports of goods and services (-) Imports of services (%) GDP from the final expenditure Volume changes on previous year Gross domestic product (%)
2000 422,425 320,406 227,496 92,910 101,856 84,920 16,936 163 298,475 233,076 65,399 268,893 203,973 64,920 452,007 3.1 3.6 3.7 3.3 2.3 2.0 3.8 . 12.4 14.2 6.7 11.3 12.7 7.2 4.2
2001 450,279 340,804 239,644 101,160 106,706 87,945 18,761 2,769 305,023 235,447 69,576 273,421 203,301 70,120 481,881 3.0 2.8 2.0 4.5 1.3 0.2 6.6 . 1.5 0.8 4.0 2.5 1.5 5.6 2.3
2002 466,862 361,580 250,713 110,867 105,657 84,711 20,946 -375 301,426 229,437 71,989 267,151 193,376 73,775 501,137 0.0 2.1 1.2 4.4 -4.1 -6.8 8.7 . 0.6 0.6 0.8 0.3 -0.4 2.4 0.2
2003 478,717 373,652 256,214 117,438 105,636 83,869 21,767 -571 304,015 231,428 72,587 269,922 194,628 75,294 512,810 0.1 0.8 -0.1 2.8 -1.7 -2.6 1.7 . 1.8 2.5 -0.4 2.0 3.1 -0.6 0.2
2004 488,320 380,762 261,633 119,129 107,404 86,624 20,780 154 331,726 256,337 75,389 290,760 214,020 76,740 529,286 0.5 0.4 0.8 -0.5 0.2 1.6 -5.3 . 8.2 10.1 2.1 6.4 8.6 0.6 2.0
2005 504,292 391,614 268,879 122,735 112,454 91,840 20,614 224 361,556 281,680 79,876 314,965 233,889 81,076 550,883 1.5 1.0 0.9 1.2 3.3 4.5 -2.0 . 5.8 6.0 4.8 5.4 5.8 4.3 2.1
2006 534,333 411,440 275,889 135,551 122,994 100,104 22,890 -101 398,550 314,930 83,620 348,337 264,231 84,106 584,546 3.4 2.5 -0.2 8.3 7.0 6.6 8.4 . 7.2 8.2 3.7 7.7 9.4 2.6 3.5
2007 575,252 430,679 286,818 143,861 144,226 120,495 23,731 347 425,837 336,377 89,460 381,919 283,423 98,496 619,170 5.2 2.3 1.9 3.1 14.8 18.0 0.8 . 5.4 5.1 6.2 7.8 5.4 15.5 3.8
2008 592,009 447,484 295,433 152,051 143,141 117,555 25,586 1,384 451,703 354,202 97,501 396,514 302,001 94,513 647,198 0.7 1.7 0.9 3.2 -3.0 -4.4 4.1 . 1.6 0.6 5.4 -0.7 1.4 -6.8 2.2
2009 577,451 447,976 285,532 162,444 133,128 106,152 26,976 -3,653 388,883 292,382 96,501 341,492 244,960 96,532 624,842 -2.6 0.3 -1.9 4.7 -8.6 -11.4 4.4 . -8.6 -10.1 -3.2 -7.8 -10.7 1.4 -3.7
2010 587,507 458,253 290,509 167,744 125,898 99,214 26,684 3,356 446,176 342,992 103,184 394,496 292,578 101,918 639,187 -0.1 0.4 0.1 0.9 -6.8 -7.5 -4.0 . 9.7 11.1 5.5 8.5 10.3 4.1 1.3
2011 594,855 464,525 296,819 167,706 130,965 104,370 26,595 -635 491,041 382,032 109,009 435,537 327,049 108,488 650,359 0.4 -0.1 0.1 -0.4 4.9 6.6 -1.3 . 5.2 5.0 5.6 3.9 3.7 4.5 1.6
2012 589,378 467,112 297,167 169,945 122,505 97,798 24,707 -239 519,130 405,627 113,503 455,542 344,889 110,653 652,966 -2.2 -1.1 -1.1 -1.2 -6.3 -5.9 -7.8 . 3.3 3.1 3.8 2.2 2.4 1.5 -1.0
2013 593,019 470,767 300,441 170,326 121,237 96,924 24,313 1,015 527,581 407,564 120,017 460,137 343,001 117,136 660,463 -0.6 -0.6 -1.0 0.0 -1.6 -1.2 -3.1 . 2.5 1.9 4.6 2.2 1.3 5.1 -0.1
2014 597,003 476,709 304,244 172,465 118,138 94,608 23,530 2,156 541,129 409,005 132,124 466,572 345,078 121,494 671,560 0.1 0.4 0.4 0.6 -2.4 -2.1 -3.5 . 4.5 3.1 9.6 3.3 3.3 3.1 1.4
2015 638,249 483,170 310,816 172,354 152,533 127,953 24,580 2,546 570,353 418,373 151,980 518,594 352,926 165,668 690,008 6.9 1.2 2.0 -0.1 29.0 35.0 4.8 . 7.4 5.1 14.6 14.5 7.6 34.2 2.0
2016 636,004 490,883 316,041 174,842 141,675 116,979 24,696 3,446 563,377 420,899 142,478 491,044 355,196 135,848 708,337 -0.7 1.2 1.1 1.3 -7.3 -8.8 0.7 . 1.7 4.4 -5.8 -2.0 5.4 -17.7 2.2
2017 658,756 506,752 327,261 179,491 148,670 123,258 25,412 3,334 615,553 460,770 154,783 536,163 388,826 147,337 738,146 2.3 1.7 2.1 0.9 4.2 4.8 1.6 . 6.5 6.0 8.0 6.2 5.7 7.5 2.9
2018 692,380 530,171 341,560 188,611 158,093 131,634 26,459 4,116 655,439 484,921 170,518 573,832 413,310 160,522 773,987 2.4 2.0 2.2 1.7 3.6 3.9 1.9 . 4.3 3.1 7.9 4.7 4.0 6.7 2.4
2019* 725,745 553,304 354,742 198,562 170,099 142,808 27,291 2,342 675,153 493,938 181,215 590,651 425,727 164,924 810,247 2.0 1.5 1.5 1.6 4.6 5.4 0.8 . 2.7 2.1 4.3 3.2 4.2 0.8 1.7
Source: CBS.
Explanation of symbols

Table description


This table presents annual data on the output components, the final expenditure categories and the income components of gross domestic product of the Netherlands. In the national accounts gross domestic product is approached from three points of view: from the output, from the generation of income and from the final expenditure. Gross domestic product is a main macroeconomic indicator. The volume change of gross domestic product is a measure for the economic growth of a country.

Data available from: 1995.

Status of the figures:
Data from 1995 up to and including 2018 are final. Data of 2019 are provisional.

Changes as of June 24th 2020:
Data of 2019 have been added to this table.

When will new figures be published?
Provisional data are published 6 months after the end of the reporting year. Final data are released 18 months after the end of the reporting year.

Description topics

GDP from the final expenditure
The way GDP is formed by underlying components in the so-called expenditure approach. In this approach the components are consumption by households, consumption by the general government, gross fixed capital formation, changes in inventories and exports, minus imports. Consumption, fixed capital formation and changes in inventories add up to the so-called national final expenditure. By adding exports final expenditure is obtained. Intermediate consumption, goods and services used upon production, is not part of final expenditure.
Value at current prices
The values are expressed at prices of the reporting period. Alternatively, values may be expressed at constant prices. In this case, prices of a reference period are used.
National final expenditure
The sum of the consumption of households and the government, gross fixed capital formation and changes in inventories.
Total
Final consumption expenditure
Expenditure on goods or services that are used for the direct satisfaction of individual or collective needs. Expenses may be made at home or abroad, but they are always made by resident institutional units, that is households or institutions residing in the Netherlands. By definition only households, non-profit institutions serving households (NPISHs) and government institutions consume. Enterprises do not: expenses they make on goods and services are thought to serve production and are therefore classified as intermediate consumption of fixed capital formation. The general government is a special case. The government also has intermediate consumption, just like enterprises. But the output delivered by the government which is not directly paid for, non-market output (like safety), is classified as consumption by the general government. It is said that the government 'consumes its own production'. The system of national accounts demands that all that is produced is also consumed (or serves as an investment). By convention, government output is consumed by the government itself. This is not the only consumption by the general government. It also contains social transfers in kind. In the Netherlands this mainly concerns health care bills paid for by the government and an allowance for the rent.
Total
Households and NPISHs
Consumption expenditure by households and non-profit institutions serving households (NPISHs). Not all expenses made by households are seen as consumptive, households may invest as well. These investments mainly concern the purchase of houses and substantial costs on maintenance. Small costs on maintenance, indoor painting and the purchase of furniture is classified as consumption. This also applies to the purchase of cars and car maintenance.
General government
Consumption expenditure by the general government sector. The output delivered by the government which is not directly paid for, non-market output (like safety), is classified as consumption by the government. It is said that the government 'consumes its own production'. The system of national accounts demands that all that is produced is also consumed (or serves as an investment). By convention, government output is consumed by the government itself. This is not the only consumption by the general government. Purchases by general government of goods and services produced by market producers that are supplied to households as social transfers in kind are part of government consumption as well. Examples of this in the Netherlands are health care bills paid for by the government and an allowance for the rent.

Government output consumed by the government is classified into collective consumption and individual consumption. Collective consumption by the government consists of services for collective consumption that are provided simultaneously to all members of the community. Examples of this are expenses on defense, environmental health or public governance. Individual consumption is made up of expenses that serve only part of the community. This concerns mainly education.
Gross fixed capital formation
Expenditure on produced assets that are used in a production process for more than one year. This may concern a building, dwelling, transport equipment or a machine. This in contrast with goods and services which are used up during the production process, the so-called intermediate use (e.g. iron ore). Fixed capital does lose value over time as a result of normal wear and tear and obsolescence. This is called consumption of fixed capital (also called depreciation). The value of fixed capital formation in which the consumption of fixed capital is not deducted is called gross fixed capital formation. Deduction of the consumption of fixed capital results in net fixed capital formation.

The following types of fixed assets exist: dwellings and other buildings and structures, machinery and equipment, transport equipment, weapon systems (included in machinery and equipment), computers, software, telecommunication equipment, research and development, cultivated biological resources, mineral exploration and evaluation, and costs of ownership transfer on non-produced assets, like land, contracts, leases and licences.
Total
Corporations and households
Gross fixed capital formation of (financial or non-financial) corporations and households including non-profit institutions serving households (NPISHs). Fixed capital formation by households concerns houses, but also investments by the self-employed.
General government
Gross fixed capital formation of the sector general government. Fixed capital formation by the general government concerns e.g. investments in public infrastructure, research and development and weapon systems.
Changes in inventories incl. valuables
Changes in inventories including acquisitions less disposals of valuables.
Changes in the stock of raw materials, semi-finished products, work-in-progress (unfinished works like ships or oil rigs) and finished products still held by the producer. Changes in stock do not include work-in-progress in construction. Positive changes in inventories arise when products are finished in the reference period but not yet sold. Alternatively, they arise when goods are purchased for intermediate consumption but not yet used. Negative changes in inventories arise when goods from stocks have been sold, or used in the production process. A more extensive list of changes in inventories is found in the European System of Accounts 2010.

In measuring changes in inventories, changes in prices during the reference period are not allowed to have any effect. The initial and final inventory is therefore valued at the same price. Raw materials are valued at the price of purchase. Final products are valued at the selling price. Work-in-progress is valued at the cost-price.

Acquisitions less disposals of valuables consists of the acquisitions less disposals of precious stones, non-monetary gold, antiques, art objects and jewellery that are acquired and held primarily as stores of value. In the national accounts this transaction is mostly combined with changes in inventories.
Exports of goods and services
Transactions in goods and services (sales, barter and gifts) from residents (in the Netherlands) to non-residents. Exports of goods occurs when economic ownership of goods is passed from residents to non-residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners.
Total
Exports of goods
Transactions in goods (sales, barter and gifts) from residents (in the Netherlands) to non-residents. Exports of goods occurs when economic ownership of goods is passed from residents to non-residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners. Part of the exports of goods are re-exports: goods that were imported before being exported, after having received at most minor adaptations.
Exports of services
Transactions in services (sales, barter and gifts) from residents (in the Netherlands) to non-residents. Exports of goods occurs when economic ownership of goods is passed from residents to non-residents. Exports of services include among others the following cases: transportation by resident carriers abroad, harbour services and ship maintenance to non-residents, works performed abroad by resident contractors. Expenses made in the Netherlands by foreign tourists, diplomats and cross-border workers.
Imports of goods and services (-)
Transactions in goods and services (sales, barter and gifts) from non-residents to residents (in the Netherlands). Imports of goods occurs when economic ownership of goods is passed from non-residents to residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners.
Total
Imports of goods
Transactions in goods (sales, barter and gifts) from non-residents to residents (in the Netherlands). Imports of goods occurs when economic ownership of goods is passed from non-residents to residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners. Part of the imports are raw materials, semifinished products, fuel and fixed assets. Furthermore, imports of goods may be re-exports: goods that were imported before being exported, after having received at most minor adaptations.
Imports of services
Transactions in services (sales, barter and gifts) from non-residents to residents (in the Netherlands). Imports of services applies among others to expenses made by Dutch companies abroad, like costs of transportation, banking costs and business travels. Imports by services are also made by the Dutch general government, among others by means of expenses made by Dutch embassies and consulates. Imports of services by households consist among others of imports of consumer goods and the direct consumptive expenditure by Dutch residents abroad.

Gross domestic product
Gross domestic product (GDP) is a quantity that expresses the size of an economy. The volume change of GDP during a reference period expresses the growth or shrinkage of the economy. Gross domestic product at market prices is the final result of the production activity of resident producer units. It can be defined in three ways:

- production approach: GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies on products (which are not allocated to sectors and industries). It is also the balancing item in the total economy production account;
- expenditure approach: GDP is the sum of final uses of goods and services by resident institutional units (final consumption and gross capital formation), plus exports and minus imports of goods and services;
- income approach: GDP is the sum of uses in the total economy generation of income account (compensation of employees, taxes on production and imports less subsidies, gross operating surplus and mixed income of the total economy).

Net domestic product at market prices (NDP) can be obtained by deducting consumption of fixed capital from GDP.
Volume changes on previous year
The weighted average of the changes in the quantity and quality of the components of a certain goods or service transaction or balancing item, annual percentage changes.
National final expenditure
The sum of the consumption of households and the government, gross fixed capital formation and changes in inventories.
Total
Final consumption expenditure
Expenditure on goods or services that are used for the direct satisfaction of individual or collective needs. Expenses may be made at home or abroad, but they are always made by resident institutional units, that is households or institutions residing in the Netherlands. By definition only households, non-profit institutions serving households (NPISHs) and government institutions consume. Enterprises do not: expenses they make on goods and services are thought to serve production and are therefore classified as intermediate consumption of fixed capital formation. The general government is a special case. The government also has intermediate consumption, just like enterprises. But the output delivered by the government which is not directly paid for, non-market output (like safety), is classified as consumption by the general government. It is said that the government 'consumes its own production'. The system of national accounts demands that all that is produced is also consumed (or serves as an investment). By convention, government output is consumed by the government itself. This is not the only consumption by the general government. It also contains social transfers in kind. In the Netherlands this mainly concerns health care bills paid for by the government and an allowance for the rent.
Total
Households and NPISHs
Consumption expenditure by households and non-profit institutions serving households (NPISHs). Not all expenses made by households are seen as consumptive, households may invest as well. These investments mainly concern the purchase of houses and substantial costs on maintenance. Small costs on maintenance, indoor painting and the purchase of furniture is classified as consumption. This also applies to the purchase of cars and car maintenance.
General government
Consumption expenditure by the general government sector. The output delivered by the government which is not directly paid for, non-market output (like safety), is classified as consumption by the government. It is said that the government 'consumes its own production'. The system of national accounts demands that all that is produced is also consumed (or serves as an investment). By convention, government output is consumed by the government itself. This is not the only consumption by the general government. Purchases by general government of goods and services produced by market producers that are supplied to households as social transfers in kind are part of government consumption as well. Examples of this in the Netherlands are health care bills paid for by the government and an allowance for the rent.

Government output consumed by the government is classified into collective consumption and individual consumption. Collective consumption by the government consists of services for collective consumption that are provided simultaneously to all members of the community. Examples of this are expenses on defense, environmental health or public governance. Individual consumption is made up of expenses that serve only part of the community. This concerns mainly education.
Gross fixed capital formation
Expenditure on produced assets that are used in a production process for more than one year. This may concern a building, dwelling, transport equipment or a machine. This in contrast with goods and services which are used up during the production process, the so-called intermediate use (e.g. iron ore). Fixed capital does lose value over time as a result of normal wear and tear and obsolescence. This is called consumption of fixed capital (also called depreciation). The value of fixed capital formation in which the consumption of fixed capital is not deducted is called gross fixed capital formation. Deduction of the consumption of fixed capital results in net fixed capital formation.

The following types of fixed assets exist: dwellings and other buildings and structures, machinery and equipment, transport equipment, weapon systems (included in machinery and equipment), computers, software, telecommunication equipment, research and development, cultivated biological resources, mineral exploration and evaluation, and costs of ownership transfer on non-produced assets, like land, contracts, leases and licences.
Total
Corporations and households
Gross fixed capital formation of (financial or non-financial) corporations and households including non-profit institutions serving households (NPISHs). Fixed capital formation by households concerns houses, but also investments by the self-employed.
General government
Gross fixed capital formation of the sector general government. Fixed capital formation by the general government concerns e.g. investments in public infrastructure, research and development and weapon systems.
Changes in inventories incl. valuables
Changes in inventories including acquisitions less disposals of valuables.
Changes in the stock of raw materials, semi-finished products, work-in-progress (unfinished works like ships or oil rigs) and finished products still held by the producer. Changes in stock do not include work-in-progress in construction. Positive changes in inventories arise when products are finished in the reference period but not yet sold. Alternatively, they arise when goods are purchased for intermediate consumption but not yet used. Negative changes in inventories arise when goods from stocks have been sold, or used in the production process. A more extensive list of changes in inventories is found in the European System of Accounts 2010.

In measuring changes in inventories, changes in prices during the reference period are not allowed to have any effect. The initial and final inventory is therefore valued at the same price. Raw materials are valued at the price of purchase. Final products are valued at the selling price. Work-in-progress is valued at the cost-price.

Acquisitions less disposals of valuables consists of the acquisitions less disposals of precious stones, non-monetary gold, antiques, art objects and jewellery that are acquired and held primarily as stores of value. In the national accounts this transaction is mostly combined with changes in inventories.
Exports of goods and services
Transactions in goods and services (sales, barter and gifts) from residents (in the Netherlands) to non-residents. Exports of goods occurs when economic ownership of goods is passed from residents to non-residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners.
Total
Exports of goods
Transactions in goods (sales, barter and gifts) from residents (in the Netherlands) to non-residents. Exports of goods occurs when economic ownership of goods is passed from residents to non-residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners. Part of the exports of goods are re-exports: goods that were imported before being exported, after having received at most minor adaptations.
Exports of services
Transactions in services (sales, barter and gifts) from residents (in the Netherlands) to non-residents. Exports of goods occurs when economic ownership of goods is passed from residents to non-residents. Exports of services include among others the following cases: transportation by resident carriers abroad, harbour services and ship maintenance to non-residents, works performed abroad by resident contractors. Expenses made in the Netherlands by foreign tourists, diplomats and cross-border workers.
Imports of goods and services (-)
Transactions in goods and services (sales, barter and gifts) from non-residents to residents (in the Netherlands). Imports of goods occurs when economic ownership of goods is passed from non-residents to residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners.

Total
Imports of goods
Transactions in goods (sales, barter and gifts) from non-residents to residents (in the Netherlands). Imports of goods occurs when economic ownership of goods is passed from non-residents to residents. This applies irrespective of corresponding physical movements of goods across frontiers. An enterprise or institution is considered residential after it has been active in the Netherlands for at least one year. This applies irrespective of the question whether the enterprise or institute has foreign owners. Part of the imports are raw materials, semifinished products, fuel and fixed assets. Furthermore, imports of goods may be re-exports: goods that were imported before being exported, after having received at most minor adaptations.
Imports of services
Transactions in services (sales, barter and gifts) from non-residents to residents (in the Netherlands). Imports of services applies among others to expenses made by Dutch companies abroad, like costs of transportation, banking costs and business travels. Imports by services are also made by the Dutch general government, among others by means of expenses made by Dutch embassies and consulates. Imports of services by households consist among others of imports of consumer goods and the direct consumptive expenditure by Dutch residents abroad.

Gross domestic product
Gross domestic product (GDP) is a quantity that expresses the size of an economy. The volume change of GDP during a reference period expresses the growth or shrinkage of the economy. Gross domestic product at market prices is the final result of the production activity of resident producer units. It can be defined in three ways:

- production approach: GDP is the sum of gross value added of the various institutional sectors or the various industries plus taxes and less subsidies on products (which are not allocated to sectors and industries). It is also the balancing item in the total economy production account;
- expenditure approach: GDP is the sum of final uses of goods and services by resident institutional units (final consumption and gross capital formation), plus exports and minus imports of goods and services;
- income approach: GDP is the sum of uses in the total economy generation of income account (compensation of employees, taxes on production and imports less subsidies, gross operating surplus and mixed income of the total economy).

Net domestic product at market prices (NDP) can be obtained by deducting consumption of fixed capital from GDP.