Gross Regional Domestic Product of Nusa Tenggara Barat Province by Expenditure 2020-2024

Gross Regional Domestic Product (GRDP) is one of the economic data tools that can be used to evaluate the economic development performance of a region (province or district / city). This data tool can also be used for other interests and purposes, such as the basis for developing economic models in order to formulate policy formulations, velocity of money, financial deepening, tax determination, export and import studies and so on.According to macroeconomic theory, the calculation of GDP can be done through three approaches, namely: the production/supply approach (GRDP according to business field/industry), the final expenditure/demand approach (GRDP according to expenditure) and the income approach (GRDP according to income). All three calculation approaches will theoretically produce the same GDP figure. This publication specifically discusses GDP according to the final expenditure/demand approach. This approach is broken down into several components, namely: Household Consumption Expenditure, Consumption Expenditure of Non-Profit Institutions Serving Households, Government Consumption Expenditure, Investment (Gross Fixed Capital Formation and Inventory Change), Foreign Exports, Foreign Imports, and Interregional Net Exports (interregional exports reduced by interregional imports). The GRDP data in this publication and subsequent publications use the 2010 base year, and have applied the concept of the 2008 System of National Accounts (SNA) as recommended by the United Nations.