Gross domestic product and methods of its calculation. GDP (main calculation methods)

Brief theory

Gross domestic product (GDP) is the central indicator of the system of national accounts, it characterizes the value of final goods and services produced by residents of the country for a certain period. GDP is used to characterize the results of production, the level of economic development, the rate of economic growth, and so on. Since GDP is an indicator of the product produced, final goods and services produced, it does not include the value of intermediate goods and services used in the production process, i.e. intermediate consumption value.

GDP is calculated on a gross basis, i.e. before deducting the amount of consumed fixed capital from the product produced. The consumption of fixed capital in this case is interpreted as a decrease in the value of fixed capital over the period as a result of physical and obsolescence. A variation of the GDP indicator can be considered net domestic product. This figure can be obtained by subtracting the amount of consumed fixed capital from the gross domestic product.

GDP can be calculated in the following three ways:

1. as the sum of gross value added (production method);
2. as the sum of end use components (end use method);
3. as the sum of primary incomes (distributive method).

At production calculation GDP is calculated by summing the gross value added of all resident production units grouped by industry or sector. Gross value added is the difference between the value of goods produced and services rendered (output) and the value of goods and services fully consumed in the production process (intermediate consumption).

It is recommended that the market output of goods and services be valued at basic prices or, if this is not possible, at producer prices. Basic price - the price received by the producer for goods and services, excluding any taxes payable on products and including subsidies on products. Producer price - the price received by the producer for goods and services, including taxes payable on products and imports and excluding subsidies on products and imports.

GDP by production method:

BB - gross output

PP - intermediate consumption

NNP - net taxes on products and imports (taxes on products and imports minus subsidies on products and imports)

According to the end use method, GDP is defined as the sum of the following components: expenditure on final consumption of goods and services, gross capital formation, and the balance of exports and imports of goods and services.

Gross capital formation is the net acquisition (acquisition less disposal) by residents of goods and services produced and rendered in the current period, but not consumed in it. Gross capital formation includes gross fixed capital formation, changes in inventories and net acquisition of valuables.

GDP by end use method:

Theoretically, this value should coincide with the GDP calculated by the production method, i.e., by summing the gross value added of all sectors or branches of the economy, but in practice, an adjustment is made for statistical discrepancy (SR):

When GDP is determined by the distribution method, it includes the following types of primary income paid by resident production units: salaries of employees, net taxes on production and imports (taxes on production and imports minus subsidies on production and imports), gross profit and gross mixed income.

Taxes on production and imports include taxes on products and other taxes on production. Taxes on products have already been mentioned before.

GDP distribution method:

Problem solution example

The task

The following data are available for the year for Russia (in current prices), million rubles:

Determine GDP at market prices by the following methods: production, distribution, final use.

The solution of the problem

We calculate GDP by the production method, it will be equal to the sum of gross value added and net taxes on products:

Gross value added:

Net taxes on products:

Let's calculate the GDP using the distribution method - it will be equal to the sum of wages of workers, net taxes on production and imports, and the gross profit of the economy and gross mixed income.

Net taxes on production and imports:

Let's calculate GDP using the final use method - it will be equal to the sum of final consumption expenditures, gross fixed capital formation and changes in inventories, as well as the balance of exports and imports. In addition, we take into account the statistical discrepancy

GDP at market prices amounted to 21597968 million rubles.

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The value of GDP is measured by three methods: by value added (production method); by income (distributive method); by expenditure (end-use method).

Let's consider these methods in order.

production method

When calculating by the production method, the value of GDP is determined by summing up the value added created in all production and trade links involved in the production and sale of products. Let's go back to our example (see Table 10-3 on page 16). We see that in each link of the technological chain, the cost of production is the sum of the cost of the intermediate product and the added value. A product is considered sold only when it is sold to the final consumer. In our example, the cost of the final product (chairs sold to the consumer) is, as already indicated, 580 den. units It is obtained as the total value added of all enterprises that contributed to the production and sale of chairs, and is the difference between the total value (gross income) of these enterprises and the value of their intermediate product.

GDP = Value Added = Sales Revenue (Gross Income) - Value of Intermediate Product.

The value of GDP, determined by the production method, is the sum of value added at all stages of production and sale of products.

distribution method

With the distributive method (by income), the value of GDP is determined as the sum of all types of income from the sale of final products. When an enterprise sells its products, the value added remaining after the reimbursement of material costs that make up the cost of intermediate products passes into the hands of the owners of production factors, constituting the so-called factor income. Entrepreneurs, organizing production, must acquire various factors of production. To do this, they need to pay for these factors. This means that hired workers will receive wages for their work, owners of capital - interest, owners of land and other real estate - rent. In a market system, each factor is evaluated depending on the ratio of supply and demand for this factor. The best option distribution of income in accordance with the payment of each factor is the option in which the economy is in equilibrium, and, in particular, the balance of supply and demand for each factor. On the contrary, any deviation from equilibrium means an unjustified increase or decrease in one or another income.

The distribution of GDP is based on the price of factors of production.

There are the following types of factor income: wages of employees, interest payments, rental income, income of owners, net indirect taxes (taxes minus subsidies) and profit. Consider these types of income.

Wage is, as we know, the price of labor, the income of the labor factor. It includes wages accrued, but not necessarily paid to employees. This means that in addition to wages paid, this type of factor income includes that part of it that is withheld by the state in the form of income tax (in Russia this is a tax on income individuals) and contributions to social funds (in Russia these are the Pension Fund, the Federal Compulsory Medical Insurance Fund and the Social Insurance Fund). In addition, various wage supplements are included (for example, subsidized by enterprises catering). Note that the remuneration of civil servants is not included in this indicator, since it is paid from the state budget, i.e., it arises after the redistribution of GDP.

Percent- income factor "capital". Interest income includes loan capital payments owed by businesses or households. This does not include payments on public debt, as they are the result of redistribution.

Rent- income factor "land". Rent payments usually include all income from real estate, that is, from the lease of land, residential and non-residential premises. As mentioned above, this type of payment also includes imputed rent as an estimated income from renting out one's own housing. The income of owners (owners of unincorporated enterprises, small shops, kiosks, workshops, agricultural farms, etc.) is singled out separately, since it does not break down into wages and profits. Participation in the production of goods and services by small entrepreneurs who do not use hired labor, as a rule, means that two factors are combined in their person - both labor and capital. Therefore, the income of small entrepreneurs acts as a single factor income.

Net indirect taxes(taxes on production and imports minus subsidies) represent the payment for government services. Everyone is well aware of direct taxes, which are a direct deduction from the income received by households and firms. For example, income tax assumes that in Russia 13% of the money earned is deducted from wages and sent to the state budget, and 20% is transferred from the profits earned by the company to the state budget. These deductions do not increase the size of the country's GDP. This is money that is transferred from private wallets to the public one. The situation is different with indirect taxes. Indirect taxes are taxes that are included in the price of products sold. They can be considered as the contribution of the state to the creation of GDP and therefore should be taken into account when calculating GDP. Examples of indirect taxes in Russia are value added tax (VAT) and excises. Most goods are subject to 18% VAT. This means that enterprises will sell their products with a premium on the price, paying the appropriate amount to the state. Such taxes lead to an increase in the prices of the products subject to them.

Profit- income factor "entrepreneurial ability". It includes the income of corporations (open joint stock companies). In the composition of profits, dividends paid to shareholders, retained earnings as a source of expansion of the company's capital, and taxes paid to the state are distinguished.

In addition to factor income, when calculating GDP by income, it also includes depreciation deductions, which are the non-revenue part of GDP. They are included in the cost of production and represent a part of the total income of the company, which is intended to compensate for the depreciation of fixed capital elements (buildings, structures, machinery and equipment). It is formed by the consumption of this part of the capital and cannot be factor income. Depreciation charges are, as mentioned earlier, part of the value added. So, GDP by income has the following composition:

GDP \u003d Wage + Interest + Rent + + Incomes of owners + Indirect taxes + + Profit + Depreciation.

Calculation of GDP by expenditure

Now let's turn to the third method of calculating GDP - by final use (by expenditure). Recall that various parts of the gross domestic product come into the ownership of market agents - households, firms and the state. In addition, it should be taken into account that part of the product goes abroad, which is net exports (exports minus imports). Speaking about the structure of GDP produced, we pointed to four types of products: consumer goods, goods for industrial purposes, public goods, and goods that are net exports. Accordingly, there are four groups of consumers of GDP: households, firms, the state and abroad.

Let's ask ourselves a question: to what final goals will they direct the received income? How is the generated and distributed GDP spent?

households spend their income on the purchase of consumer goods and services (final consumption). These costs are usually denoted by the letter "C" (English consumption - consumption).

The profits of firms are channeled to purchase of investment goods(purchase of equipment, industrial construction, replenishment of inventories (work in progress and finished, but not yet sold products). They are denoted by the letter "I" (English investment - investments).

State spends the income received on the purchase of necessary goods and services. It enters the market as a major buyer, buying a wide variety of goods - from submarines to paper clips and food products. Public procurement, referred to as "G" (eng. government - the state), includes both consumption (expenses for the maintenance of state institutions and salaries of public sector workers) and investments of state enterprises.

Net export(Xn) is the difference between a country's export earnings (X) and its import costs (M). This value represents the trade balance of the country. So, we can see that GDP by expenditure is characterized by the following formula, which is called the expenditure equation or the aggregate demand equation:

GDP = C + I + G + Xn.

According to the textbook: Economy. Fundamentals of economic theory: a textbook for grades 10–11. for educational organizations. Advanced level: in 2 books. Book. 2 // Edited by: Ivanov S. I., Linkov A. Ya. Publisher: Vita-Press, 2018

Three methods can be used to calculate GDP:

by expenditure (end-use method);

by income (distributive method);

value added (production method).

The use of these methods gives the same result, because in the economy

total income is equal to the value of total expenses, and the amount of value added is equal to the value of the final product, while the value of the value of the final product is nothing more than the sum of the costs of end consumers for the purchase of the total product.

Gross domestic product, calculated by spending, is the sum of spending by all macroeconomic agents, which includes: household spending (personal consumption spending); firms' expenses (investment expenses); government spending (government purchases of goods and services); foreign sector spending (net export spending).

Personal consumption expenditures, C (consumption) is household spending on goods and services. In developed countries, they account for approximately 2/3 of total spending and are the main component of total spending. Consumer spending includes:

expenditure on current consumption - for the purchase of non-durable goods that serve less than one year (However, all clothing, regardless of the period of its actual use - 1 day or 5 years - refers to current consumption.);

spending on durable goods that last more than one year (furniture, household appliances, cars, etc.) (the exception is the cost of buying a home, which is not classified as consumer spending, but as investment spending);

service costs.

Personal consumption spending = household spending on current consumption + spending on durable goods (excluding household spending on housing) + spending on services

Investment costs, I is the cost to firms of buying investment goods. Investment goods are goods that increase the stock of capital. Investment costs include:

investments in fixed capital, which include the expenses of firms:

for the purchase of equipment

for industrial construction (industrial buildings and structures);

investment in housing construction, equal to the expenditure of households on the purchase of housing;

investment in inventory (inventory includes:

stocks of raw materials and materials necessary to ensure the continuity of the production process;

work in progress, which is associated with the technology of the production process;

stocks of finished (produced by the firm), but not yet sold products

In the system of national accounts, only expenditures on the purchase of investment goods are considered investments. Any other expenses that may generate income in the future (for example, the purchase of securities, antiques, works of art, etc.) are not considered investments.

When calculating GDP by expenditure, investment is understood as gross private domestic investment.

In accordance with the features of the functioning of fixed capital, investments are divided into gross, net and recovery. In the process of use, fixed capital wears out, is “consumed” and requires replacement, “recovery” of wear and tear. The part of the investment that goes to compensate for the depreciation of fixed capital is a recovery investment and is called the cost of capital consumption allowances or depreciation A.

Net private domestic investmentI net (net private domestic investment) represent additional investments that increase the size of the capital of firms. They are the basis for the expansion of production, growth in output.

Gross private domestic investmentI gross (grossprivate domesticinvestment) represent the total investment, the amount recovery and net investment:

I gross = A + I n

According to the form of ownership, investments are divided into private, i.e. investment by private firms, and public. In the system of national accounts, only private investments are included in investment expenditures, while public investments are included in government purchases of goods and services.

In addition, only domestic investments are recorded as investments in the system of national accounts, i.e. investments made in the economy of a given country.

Public procurement of goods and services,G include:

government consumption, which includes: maintenance costs public institutions and organizations providing economic regulation, security and law and order, political management, social and industrial infrastructure and b) payment for services (salaries) of public sector employees;

public investment, i.e. investment spending by state enterprises. (Government spending by federal, regional and local governments on the final products of enterprises and on direct purchases of resources, especially labor by the state. However, this group of expenses excludes all state transfer payments).

A distinction should be made between the concept of “government spending” and the concept of “government spending”. The latter concept also includes transfer payments and interest payments on government bonds, which, as already noted, are not included in GDP, since they are neither a good nor a service and are not provided in exchange for goods and services.

net export,X n is the difference between export earnings ( Ex) and the country's import costs (Im) and corresponds to the trade balance:

Xn = Ex – Im.

The equation GDP on expenses = C + I gross + G + Xn–this is the basic macroeconomic identity.

The difference between the components of GDP - C, I g , G, X n - is based on the difference between the types of buyers who carry out these costs (households, firms, the state, foreigners), and not on the difference in the goods and services purchased. Thus, a car purchased by a household is included in component C if it is purchased by a firm - it is part of the investment in fixed assets, etc. The exception is investments in housing construction, which are included in GDP without dividing into components depending on who made these investments - households, businesses or the state.

In developed countries, the largest component in the structure of GDP is consumer spending (C) - from 50 to 78%; the most variable is investment costs (I g); G ranges from about 10 to 25%.

In Russia in 1999 the final consumption of households and non-profit organizations amounted to 54% of GDP, and in 2002. - 49.8%.

Gross private domestic investment is the most dynamic and volatile component of GDP, since the amount of investment is directly related to the presence of profitable areas of capital application. There are many of the latter during periods of prosperity of the economy and almost never remain in moments of crisis. During the years of the economic transformation crisis in Russia, the share of gross investment fell from 37% in 1991 to 15% in 1999. In 2002, the share of this indicator was 21.1%. The share of state purchases of goods and services and net exports in the Russian Federation in 1999 was 15% of GDP each, and in 2002 these figures were at the level of 16.9% and 10.8%, respectively.

Method of measuring GDP by income

With this method of calculating GDP, it is considered as the sum of incomes of owners of economic resources (households), i.e. as the sum of factor incomes, which include:

wages of workers and salaries of employees of private firms - income from the "labor" factor, which includes all forms of remuneration for labor: basic wages, bonuses, overtime pay, etc. The salaries of civil servants are not included in this indicator, as they are paid from the state budget and are part of public procurement, not factor income;

rent or rental payments - income from the "land" factor, including payments received by owners of real estate (land plots, residential and non-residential premises). If the landlord does not rent part of the premises, then the system of national accounts takes into account the income that he could receive if he rented these premises. These imputed incomes are called "imputed rents" and are included in the total amount of rent payments;

interest payments or interest on loan capital - income from the "capital" factor, which includes all payments made by private firms to households for the use of capital (including their bonds). Interest paid on government bonds is not included in this figure, as these payments are the result of redistribution and not the creation of national income;

Profit is income from the "entrepreneurial ability" factor. In the system of national accounts, in accordance with the differences in the organizational and legal forms of firms, there are:

profits of the unincorporated sector of the economy, including sole (individual) firms and partnerships based on own (possibly borrowed) capital; this type of profit is called "income of the owners of the unincorporated sector";

profit of the corporate sector of the economy based on joint-stock ownership; this type of profit is called "corporate profit" and is divided into three parts: corporate income tax; dividends that the corporation pays to shareholders and retained earnings of corporations, which serves as one of the internal sources of financing of net investment and is the basis for the expansion of the corporation's production.

In addition to factor income, GDP calculated by income takes into account:

Net indirect taxes on business (taxes minus subsidies). These taxes (value added tax, sales tax, excises, customs duties) are part of the price of a good or service. A feature of indirect taxes is that they are paid by the buyer of a product or service, and paid to the state by the company that produced them. Since GDP is a cost indicator, then, as in the price of any product, indirect taxes should be included in it;

depreciation (cost of capital consumed), which should be taken into account when calculating GDP, since it is also included in the price of any product;

net factor income from abroad, since not only national, but also foreign factors are used to create the GDP of a given country.

GDP by income = Salary + Rent +

Interest payments + Income of owners of the unincorporated sector + + Corporate profits + Net indirect taxes + Depreciation -

- Net factor income from abroad.

Method of calculating GDP by value added

With this method, the gross domestic product is determined by summing the value added for all sectors and types of production in the economy:

GDP = sum of value added

GDP, calculated as the sum of DC, reveals:

Ratio and role individual industries in the created gross product: GDP (GNP) is taken as 100% and the share of individual industries is calculated. For example, the United States has a high share of the service sector in the creation of GNP (72%), but this does not mean that the level of industrial development of the country is lower;

Changes in the structure of the gross product and the dynamics of development of individual sectors of the national economy when comparing GDP (GNP) by production over a number of years;

The nature of the economic and especially structural policy pursued in the country;

Features of the structure of the country's economy by comparing this indicator and its structure with that of other countries.

GDP = ∑ DC of all producers of goods and services produced in the territory of a given country (residents) – ∑ DC of non-residents (less than a year living in the country).

The choice of one or another method of calculating GNP (GDP) is determined by the presence of a reliable information base: the production method and the end use method are most often used. Naturally, the GNP (GDP) calculated by any of the three methods are equal.

Macroeconomic theory uses another important indicator - potential GDP (Y *), which means the long-term production capabilities of the economy with the maximum use of available resources in conditions of stable prices. In other words, potential GDP is defined as the level of GDP corresponding to the full employment of all resources. This indicator is of particular importance in studying the problems of economic cycles, inflation, economic growth, when the reasons for the deviation of actual GDP from its potential level are analyzed.

At the same time, it should be noted that it is difficult to calculate potential GDP. Thus, due to the use of different initial values, such as the natural rate of unemployment (the rate of unemployment that does not raise the general price level, or inflation) or the degree of capacity utilization, estimates of a country's potential GDP over a given period can vary widely.

Gross domestic product is a calculated indicator and represents the total market value of the final goods and services created in the territory of the country for a certain period of time (usually a year).

When calculating GDP, intermediate products, transfers, transactions with securities, second-hand goods are not taken into account. At the same time, the value of GDP includes an increase in inventories (unsold products created during the year, including all raw materials produced that were not processed).

There are three methods for calculating GDP:

1) by income: factor income of economic entities (salary, bonuses, profit, rent, interest) is summed up, as well as, in accordance with statistical reporting, depreciation and net indirect taxes on business (taxes minus subsidies);

2) by expenditures: expenditures of all economic entities, consumer expenditures of households, investment expenditures of firms, government expenditures on the purchase of goods, services and investments, net exports (balance of exports and imports) are summed up;

3) by value added (production method): only the value added at each stage of the production of the final product is summed up.

Added value is an increase in value. It can be defined as the difference between the total revenue received by the firm from the sale of this product and the sum of the costs of acquiring raw materials, materials, fuel, energy, etc. from other firms (i.e., the cost of intermediate products).

Distinguish nominal GDP, calculated at current prices and real calculated in base year prices.

The ratio between nominal GDP and real GDP gives a composite measure of the price level, or deflator:

7. Aggregate demand

Aggregate demand(aggregate demand - AD) characterizes the desire and ability of households, firms, states and foreign countries to purchase a certain amount of goods and services at the prevailing price level.

AD includes the following elements:

a) household consumer spending (consumption demaund - C);

b) investment costs of firms (investment demaund - I);

c) demand from the state - public procurement of goods and services (gorerments pending - G);

d) the demand of foreign countries - net exports (netexport - NE).

The formula for aggregate demand is:

This formula reflects the expenditures that macroeconomic entities intend to make. At the same time, the higher the general level of prices, the less they intend to spend on the purchase of final goods and services.

Therefore, the dependency AD from the general price level is inverse and can be graphically represented as a curve with a negative slope.

Rice. 3. Aggregate demand curve AD

The y-axis plots the general price level ( R), and along the abscissa, real GDP, i.e., expressed in prices of the base year (Fig. 3).

In macroeconomics, economic entities are both buyers and sellers. Losing as buyers as prices rise, they win as sellers. Moreover, we are not talking about the price of an individual product, but about the general level of prices. Therefore, the negative slope of the curve cannot be explained. AD like in microeconomics. There, the change in the magnitude of demand for an individual product was explained by dependence on the price of it, a decrease in marginal utility, income and substitution effects.

Negative slope of the aggregate demand curve AD caused by other price factors. This:

1) "effect interest rate". For example, when the price level rises, the demand for money increases, as the need for money for current transactions increases. With a constant money supply, banks, in order to attract insufficient cash, raise interest rates, which reduces the costs of economic agents associated with obtaining a loan, and therefore reduces the volume of aggregate demand;

2) "wealth effect". When the price level rises, the real purchasing power of financial assets (stocks, bonds, fixed-term accounts, etc.) falls. As a result, their owners become poorer and aggregate demand shrinks;

3) "the effect of imported goods". With an increase in the domestic price level, the demand for domestic goods decreases, and for cheaper imported goods, it increases, which leads to a decrease in aggregate demand.

Curve shift AD occurs as a result of changes in non-price factors:

1) changes in consumer spending, i.e., associated with changes in the level of well-being: income growth, changes in income tax, etc.;

2) changes in investment costs, i.e., in the volume of purchases of capital goods, associated with a change in the level of taxes on business, the level of use of production capacities;

3) changes in public spending caused mainly by political decisions;

4) changes in the cost of net exports, due to the level of income in the country, changes in the exchange rate;

5) changes in the world economy, since currency fluctuations, economic growth in other countries also affect aggregate demand.

Economic theory and statistics use a number of indicators to measure the volume of national production, among which the indicator occupies the most important place. gross domestic product (GDP). There are three main methods used to calculate GDP.

1. Value added method (production method)

GDP is the monetary value of all final goods and services produced in an economy in a year. This takes into account the annual volume of final goods and services created in the territory of a given country, or, in other words, in geographical boundaries any country or region.

For the correct calculation of GDP, it is necessary to take into account all products and services produced in a given year, but without repeated or double counting. That is why the definition of GDP refers to final goods and services. These goods are consumed within households or firms, and do not participate in further production, unlike intermediate goods. For example, food products, washing machines, hairdressing services purchased by households are a typical example of the consumption of final goods and services. In contrast, the flour purchased by the bakery for making bread is an intermediate product. If intermediate products are included in GDP, i.e. goods used to produce other goods, we will inevitably overestimate GDP. So, the price of flour will be taken into account several times: first, as a result of the flour mill (the price of flour itself), then - in the price of baked bread, then - in the price of packaged bread in a supermarket, etc.

The indicator allows to exclude double counting added value, which represents the difference between firms' sales of their finished products and purchases of materials, tools, fuels, energy, and services from other firms. In other words, value added is the market price of a firm's output minus the cost of raw materials consumed and materials purchased from suppliers.

By summing the value added produced by all firms in a country, one can determine the GDP, which represents the market value of all goods and services produced.

2. Method of calculating GDP by expenditure

This method follows directly from the first considered method of calculating GDP. Since GDP is defined as the monetary value of final products and services produced in a year, it is necessary to sum up all the expenses of economic entities for the acquisition of final products. Indeed, you cannot add apples and oranges, but you can add up the expenses of many people for the purchase of these and other goods. When calculating GDP based on spending, or the flow of benefits (this method is also called the production method), the following values ​​​​are summed up:
1. Consumer spending of the population (C).
2. Gross private investment in national economy(Ig).
3. Public procurement of goods and services (G).
4. Net exports (NX), which represents the difference between exports and imports of a given country.
Thus, the expenditures listed here are GDP and show the market value of annual production:

Y \u003d C + lg + G + NX formula (1)

Strictly speaking, formula (1) is an identity, i.e. a statement that is always true because it is given by the definition (is done by definition). The identities are not related to the economic behavior of the subjects of the economy. Equations are valid only under certain conditions. But for the sake of simplicity, in what follows we will use the equal sign everywhere.
Household personal consumption expenditure (C), as noted earlier, includes spending on durable goods, food, clothing and household items, and various services.

Gross private investment(Ig), or capital investment is the sum net investment(In) (increase in the stock of durable capital goods, i.e. buildings and structures, machinery and equipment, inventories) and depreciation (d) during the year. Net investments imply a process of real capital formation, and not the acquisition of financial assets such as shares, bonds, etc., which are also called investments, but already within the financial sector of the economy. We emphasize that in this chapter we are talking only about the investment that increases production capacity.

Public procurement of goods and services(G) is the expenditure of state institutions and authorities at all levels for the purchase of goods and payment for services of labor employed in the public sector. These public expenditures do not include transfer payments. Transfer payments are gratuitous payments by the state, since they are not a payment for the service provided (for example, state benefits for poverty, unemployment, support for single-parent families, etc.). Since they are not paid in exchange for the services of any factor of production, they are not considered as factor income.

Net export(NX) is the difference between a country's exports and imports, since most countries are open economy in which the government does not prevent the free movement of goods, capital, labor across national borders.
IN Russian Federation the structure of GDP by use, or by expenditure, was as follows (see Table 1).

Table 1
Structure of the use of gross domestic product in Russia, 2006

A source: federal Service State Statistics of the Russian Federation, MQ/misgs.ru

3. Method of calculating GDP by income (distributive method)

GDP can be represented as the sum of factor incomes (wages, interest, profits and rents), i.e. defined as the sum of remuneration of the owners of factors of production. At the same time, since we are talking specifically about the gross domestic product, it includes the income of all entities operating within the geographical boundaries of a given country, both residents and non-residents. Residents are citizens residing in the territory of a given country, with the exception of foreigners who stay in the country for less than 1 year.
The GDP indicator calculated using this method also includes indirect and direct taxes on enterprises, depreciation, property income and retained earnings. Recall that, according to the diagram of the cycle of income and expenses, what is income for some subjects of the economy, for others - costs.

The wage figure includes the gross amount of wages, as well as additional payments to employees. Rent is the income of property owners. Profits are broken down into gross profits of corporations or firms (dividends) and net incomes of partnerships (partnerships) and sole proprietorships, as well as incomes of farmers and freelancers.
The combination of two approaches to calculating GDP by expenditure and income is shown in Table 2.
Both methods are considered equivalent and should result in the same value of GDP.

table 2
Methods for calculating GDP

In addition to GDP, macroeconomic analysis uses the indicator gross national income (GNI), which shows the annual volume of final goods and services created by the citizens of the country, both within the national territory and abroad. The calculation of GNI is based on the criterion of ownership of a factor of production by a resident or non-resident of a given country. If we add to the GDP indicator the difference between the receipts from the services of factors of production (factor income) of residents from abroad and the factor income received by non-residents in this country, we get the GNI indicator. So, for example, for France, after calculating the GDP indicator, you need to add the factor income of French citizens operating in the UK, USA, Germany, etc., and subtract the factor income of British, American, German and other market economy entities, operating in France. The difference between GNI and GDP for many countries is insignificant and fluctuates within +1% of GDP.

It should be noted that not all transactions carried out economic entities for the calculated period (per year) are included in the GDP indicator. Firstly, these are transactions with financial instruments: buying and selling valuable papers- shares, bonds, etc. Although in monetary terms the turnover of financial transactions is huge, they are not directly related to changes in current real production. Secondly, it is the sale and purchase of second-hand things and, in general, all the benefits that were in use. Their value was already included in the GDP of previous years. Thirdly, these are private transfers, for example, gifts to children, friends, favorite artists: in this case, we are talking only about redistribution Money between private economic entities. Fourth, government transfers, which were discussed earlier.

Macroeconomic theory uses another important indicator - potential GDP, which means the long-term production possibilities of the ECONOMY with the maximum use of available resources in conditions of stable prices. In other words, potential GDP is defined as the level of GDP corresponding to the full employment of all resources. This is of particular importance
the pointer has in the study of problems of economic cycles, inflation, economic growth, when the causes of deviations of actual GDP from its potential level are analyzed.
At the same time, it should be noted that it is difficult to calculate potential GDP. Thus, due to the use of different initial values, such as the natural rate of unemployment (unemployment rate that does not accelerate inflation) or the degree of full utilization of production capacities, estimates of a country's potential GDP for a certain period can vary greatly.