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Gross domestic product (GDP)

Gross domestic product (GDP) presents the final result of the activity of all entities of the national economy in a given year. Gross domestic product is equal to the sum of gross value added generated by all national institutional units, increased by taxes on products and decreased by subsidies on products. Gross domestic product is calculated at market prices. GDP value can be calculated in three ways:

1) from the production side GDP is the sum of value added of all institutional sectors or all sections of the Polish Classification of Activities (PKD) of domestic production entities plus taxes less subsidies on products,

2) from the distribution side GDP is calculated as the sum of domestic demand, i.e. final consumption expenditure and gross capital formation as well as external balance of goods and services,

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

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Statistics Poland