Gross Domestic Product (GDP) and major economic aggregates

Gross domestic product (GDP) is the main aggregate measuring economic activity. It is the sum of the gross value added newly created by resident producer units in a given year, valued at market prices. It gives a measure of the new wealth created each year by the productive system and allows international comparisons. Gross domestic product is published at current prices and in volume terms at previous year's chain-linked prices. Its evolution in volume (i.e. excluding price effects) measures economic growth. The main economic aggregates associated with GDP are gross national income (GNI), the nation's financing capacity or need, the main components of the balance between supply (GDP, imports) and demand (consumption, investment, exports), the breakdown of factors of production (employment, capital stock) by institutional sectors (enterprises, households, general government considered as wealth producers) and the gross value added they generate. The annual data for the main economic aggregates associated with GDP are part of the high-value data designated by Eurostat (HVD).