Batu Municipality Gross Regional Domestic Product by Expenditure 2019-2023

Gross Regional Domestic Product (GRDP) is an economic data tool that can be used to evaluate the economic development performance of a region (province or district/municipality). This data set can also be used for other interests and purposes, such as as a basis for developing economic models in order to formulate policies, the rate of acceleration of money in circulation (velocity of money), financial deepening, tax determination, export and import studies. etc. According to macroeconomic theory, the calculation of GRDP can be done through three approaches, namely: the production/supply approach (GRDP according to Business Field/industry), the final expenditure/demand approach (GRDP according to Expenditure) and the income approach (GRDP according to Income/income) . In theory, these three calculation approaches will produce the same GRDP figure.This publication specifically discusses GRDP according to the expenditure/final demand approach. This approach is broken down into several components, namely: Household Consumption Expenditures, Consumption Expenditures of Non-Profit Institutions Serving Households, Government Consumption Expenditures, Investment (Gross Fixed Capital Formation and Changes in Inventory), Foreign Exports, Foreign Imports, and Net Exports Inter-Regional (inter-regional exports minus inter-regional imports). The GRDP data in this publication and subsequent publications uses the base year 2010, and has implemented the 2008 System of National Accounts concept as recommended by the United Nations