Gross Regional Domestic Product of Humbang Hasundutan Regency by Expenditure 2020-2024

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