Gross domestic product (GDP) is the most well-known indicator from the national accounts. It measures total output (or production) of a country’s economy. The ‘output’ measure of GDP is calculated as the sum of gross values added by each sector of the economy. By definition, GDP is also equal to the value of the income earned from this activity (the ‘income’ measure of GDP), and the total amount spent on final goods and services by residents and non-residents less the value of imports (the ‘expenditure’ or ‘final demand’ measure of GDP). All three measures give the same number in a given period. The accounts are compiled in line with the international standards of the 2008 System of National Accounts (SNA). 

GDP is only one of many indicators from the national accounts. For those wanting to go ‘beyond GDP’ to build a fuller picture of people’s economic well-being, the non-financial accounts contain indicators for the household sector such as disposable income (including pensions and other social benefits), the value of health and education services, and measures of consumption, saving and borrowing. They also provide analysis of firms’ investments, value added and productivity.