any change of the price. The GNP at constant price was calculated by using price in the year of
1988
as the base year.
Gross Domestic Products at factor cost is the total of Gross Domestic Products (GDP) at
current market prices less indirect taxes.
Expenditure approach
Expenditure on GDP is the total of the private and general government consumption
expenditures, gross fixed capital formation and change in inventories plus exports minus imports
of goods and services.
Income approach
National income classified by type of income is the summation of all income of the
owners of the factors of production. In producing, producers use different factors of production
to produce goods and services and pay the returns to the owners of the factors of production in
the forms of salaries, wages, rents, interests and profits.
