Gross Regional Domestic Product of Nias Selatan Regency by Expenditures 2020-2024

Gross Regional Domestic Product (GRDP) is one of the key economic data tools used to evaluate the economic development performance of a region, whether at the provincial or district/municipality level. In addition to this primary function, GRDP data has various other applications, such as serving as a foundation for developing economic models to support policymaking, measuring the velocity of money, assessing financial deepening, formulating tax policies, and providing a basis for studies related to exports and imports.In macroeconomic theory, GRDP can be calculated using three approaches: the production or output approach (GRDP by industry or sector), the expenditure approach (GRDP by final demand), and the income approach (GRDP by income components). Theoretically, all three approaches will yield the same GRDP value, although each offers a different analytical perspective. This publication specifically focuses on GRDP calculated using the expenditure approach or final demand approach. This method breaks down the economic structure of a region based on key expenditure components, namely: household consumption expenditure, consumption expenditure of non-profit institutions serving households, government consumption expenditure, investment (including gross fixed capital formation and changes in inventories), and exports and imports. The GRDP data presented in this publication, as well as in subsequent publications, uses the 2010 base year and adopts the concepts outlined in the System of National Accounts (SNA).