Glossary

An alternative measure of real GDP that provides information on the real purchasing power of the income generated by the production of goods and services. It reflects the impact of changes in the prices of traded goods and services as well as changes in production.Command- basis GDP is calculated by deflating both exports and imports by the price index for gross domestic purchases. Thus, it reflects the prices of purchased goods and services, while real GDP reflects the prices of produced goods and services. In the SNA, the term for this measure is “real gross domestic income.”