Gross Regional Domestic Product of Padang Panjang Municipality by Expenditure 2017-2021

Gross Regional Domestic Product (GRDP) is one of the economic data tools that can be used to evaluate the performance of the economic development of a region (province and district/city). This data set can also be used for other purposes, such as the development of basic economic models in order to formulate policies, money supply rate acceleration (velocity of money), financial deepening, tax assessment, assessment of export and import and some other things. According to macro-economic theory, the GRDP’s calculation can be done through three approaches, namely: production/supply approach (GRDP by Business Sector/industry), expenditure/final demand approach (GRDP by expenditure) and the income approach (GRDP by income). Those approaches will yield the same GRDP figures theoretically.