Information about Gross State Product
Gross state product (or gross regional product) is a measurement of the economic output of a U.S. state or an Australian state. It is the sum of all value added by industries within the state and serves as a counterpart to the gross domestic product or GDP.
Conceptually, there is no difficulty in taking the definition of GDP for a nation and applying it to a smaller jurisdiction such as a state, or even a local government area. In practice, however, flows of goods, services, labour and capital across state boundaries are not measured with any great accuracy. By contrast, flows across national boundaries are normally recorded as part of the ordinary operations of government. As a result, it is often hard to measure the value added within a state, since this requires netting out 'imports' from other states, and including 'exports' to other states. Similarly, it is difficult to measure the income accruing to factors of production (labour and capital) within a given state.
Conceptually, there is no difficulty in taking the definition of GDP for a nation and applying it to a smaller jurisdiction such as a state, or even a local government area. In practice, however, flows of goods, services, labour and capital across state boundaries are not measured with any great accuracy. By contrast, flows across national boundaries are normally recorded as part of the ordinary operations of government. As a result, it is often hard to measure the value added within a state, since this requires netting out 'imports' from other states, and including 'exports' to other states. Similarly, it is difficult to measure the income accruing to factors of production (labour and capital) within a given state.
See also
- List of U.S. states by GSP
- List of Australian states by GSP
- List of Canadian provinces by GSP
- States of India by size of economy
- Comparison between U.S. states and countries nominal GDP
United States of America
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This article is part of the series:
Politics and government of
the United States
Federal government
Constitution
Taxation
President Vice President
Cabinet
Congress
Senate
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The states and territories of Australia make up the Commonwealth of Australia under a federal system of government.
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Northern
Territory
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Value added refers to the additional value created at a particular stage of production or through image and marketing. In modern neoclassical economics, especially in macroeconomics, it refers to the contribution of the factors of production, i.e.
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gross domestic product, or GDP, is one of the ways for measuring the size of its economy. The GDP of a country is defined as the total market value of all final goods and services produced within a country in a given period of time (usually a calendar year).
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list of U.S. states sorted by their gross state product (GSP). GSP is the state counterpart of the national gross domestic product (GDP), the most comprehensive measure of national economic activity.
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This is a list of Australian States and Territories by Gross State Product. Figures are shown in millions of US dollars.
Rank State/Territory,
with flag 2004 GSP $ per capita
1 New South Wales 243,171 $45,153
2 Victoria 179,369 $44,443
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List by the World Bank
Rank State/Territory,
with flag 2004 GSP $ per capita
1 New South Wales 243,171 $45,153
2 Victoria 179,369 $44,443
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This article lists Canadian provinces and territories by gross domestic product. As of 2006, Canada has a total gross domestic product (GDP) of C$1.439 trillion or (at purchasing power parity (PPP)) roughly US$1.164 trillion, ranking 12th in the world.
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list of States and Union Territories of India by gross state domestic product estimated for the year 2004 by Ministry of Statistics and Programme Implementation with figures in millions of Indian Rupees.
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comparison between US states and countries' nominal Gross Domestic Product. Many of the states of the United States have large Gross Domestic Product (called gross state product) which would rank highly on a list of countries world GDP.
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