Gross Regional Domestic Product of Sumatera Barat by Expenditure 2012-2016

Gross Regional Domestic Product (GRDP) is one of the economic data tools that can be used to evaluate the performance of the economic development of a region (province and regency/municipality). This data set can also be used for other purposes, such as the development of basic economic models in order to formulate policies, money supply rate acceleration (velocity of money), financial deepening, tax assessment, assessment of export and import and some other things. According to macroeconomic theory, the GRDP’s calculation can be done through three approaches, namely: production/supply approach (GRDP by business sector/industry), expenditure/final demand approach (GRDP by expenditure) and the income approach (GRDP by income). Those approaches will yield the same GRDP figures theoretically. This publication specifically addresses the GRDP by expenditure approach/final demand. This approach is broken down into several components, namely: Household Consumption Expenditure, Consumption Expenditures of Non-Profit Institutions Serving Households, Government Consumption, Investment (Gross Fixed Capital Formation and Changes in Inventory), Export, Import, as well as Inter-regional Net Exports (inter-regional exports minus imports among regions). GRDP data in this publication and subsequent publications using the base year 2010, and has implemented the concept of the System of National Accounts 2008 as recommended by the United Nations.