gross value added (GVA) definition
gross value added (GVA) means gross value added at factor costs, which is the value of output less the value of intermediate consumption. It is a measure of the contribution to GDP made by an individual producer, industry or sector. GVa at factor cost is GVa at market prices less any indirect taxes plus any subsidies. Value added at factor cost can be calculated from turnover, plus capitalised production, plus other operating income, plus or minus changes in stocks, minus purchases of goods and services, minus other taxes on products that are linked to turnover but not deductible, minus duties and taxes linked to production. alternatively, it can be calculated from gross operating surplus by adding personnel costs. Income and expenditure classified as financial or extraordinary in company accounts is excluded from value added. Value added at factor costs is calculated at gross level, as value adjustments (such as depreciation) are not subtracted (1);
gross value added (GVA) means gross value added at factor costs, which is the value of output less the value of intermediate consumption. It is a measure of the contribution to GDP made by an individual producer, industry or sector. GVa at factor cost is GVa at market prices less any indirect taxes plus any subsidies. Value added at factor cost can be calculated from turnover, plus capitalised production, plus other operating income, plus or minus changes in stocks, minus purchases of goods and services, minus other taxes on products that are linked to turnover but not
Examples of gross value added (GVA) in a sentence
In 2003, gross value added (GVA) per head in the Tees Valley was £12,280 compared to the UK figure of £16,845 per head.
Regional gross value added (GVA) is estimated by the National Accounts Unit within the Economic and Environmental Statistics Department2.
The industry generating most gross value added (GVA) in the district is centred around electricity production, influenced significantly by Heysham 1 and 2 nuclear power stations run by EDF and generating around four million homes’ worth of electricity each year.