Gross Regional Product

August 1, 2021 BUZZWORDS

The regional equivalent of Gross Domestic Product (GDP). It is usually presented in nominal terms using the market prices of the respective year and is used to analyze regional economic development and make comparisons with other federal provinces. To calculate the gross regional product, the national subsidies and taxes on products are allocated to the individual federal provinces in keeping with their shares in regional gross value creation, resulting in the GRP.

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