Statistics Explained

Glossary:Gross value added

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Gross value added (GVA) is defined as output (at basic prices) minus intermediate consumption (at purchaser prices); it is the balancing item of the national accounts' production account.

GVA can be broken down by industry and institutional sector. The sum of GVA over all industries or sectors plus taxes on products minus subsidies on products gives gross domestic product.

By subtracting consumption of fixed capital from GVA the corresponding net value added (NVA) is obtained.

The concepts of "GVA at market prices", "GVA at producer prices" and "GVA at basic prices" are no longer used in ESA 2010.

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