FBoS Release No: 87, 2016
22nd December 2016
The Expenditure Approach of measuring GDP adds up the value of purchases made by final users in an economy. Hence GDP by Expenditure Approach can be calculated as the sum of Final Consumption Expenditure (FCE), Gross Capital Formation (GCF) and Net Exports (NX). The expenditure approach works on the principle that all of the products must be purchased.
The 2015 GDP by Expenditure at current market price is provisionally estimated at $9.2 billion, and is made up of the following components
- Final Consumption Expenditure: $7.5 billion;
- Gross Capital Formation: $1.5 billion;
- Net Exports: - $0.3 billion; and
- Statistical Discrepancy: $0.5 billion.
Details are provided in Table 1 below.
Table 1: GDP Expenditure Approach by Components
* Changes in inventories have not been estimated using an indicator due to the unpredictable nature of the variable. The value will be revised once actual result become available.
Graph 1 below shows the movement of the components of GDP Expenditure over the period 2005 - 2015.
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