Gross domestic product (GDP)

Principal European Economic Indicators (Eurostat); National Accounts

Gross domestic product at market prices is the final result of the production activity of resident producer units.

Statistical office of the Slovak republic

Euro

GDP is defined in three ways:

By output (production) approach as 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)

By expenditure aspproach as the sum of final uses of goods and services by resident istitutional units (actual final consumption and gross capital formation), plus exports and minus imports of goods and services

By income approach as the sum of uses in the total economy generation income account (compensation of employees, taxes on production and imports less subsidies, gorss operating surplus and mixed income of the total economy)

Council regulation (EC) No. 2223/96 on the European system on national and regional accounts in the Community

Whithin the GDP compilation following classifications harmonised with international stadards are used:
- statistical classification of economic activities (SK NACE Rev. 2),
- statistical classification of products by activity(CPA 2008),
- classification of constructions (KS),
- classification of structure of goods according to harmonised system (HS),
- classification of functions of the government (SK - COFOG)