Gross Output is an economic concept used in national accounts such as the United Nations System of National Accounts (UNSNA) and the US National Income and Product Accounts (NIPA). It is equal to the value of net output or GDP (also known as gross value added) plus intermediate consumption. Measures of national income and output are used in economics to estimate the value of goods and services produced in an economy. ... The United Nations System of National Accounts is an international standard system of social accounts, first published in 1953. ... See NIPA (disambiguation) for other meanings of the word. ... Intermediate consumption is an economic concept used in national accounts, such as the United Nations System of National Accounts (UNSNA) and the US National Income and Product Accounts (NIPA). ...

Gross Output represents, roughly speaking, the total value of sales by producing enterprises in an accounting period (e.g. a quarter or a year), before subtracting the value of intermediate goods used up in production. This description is not quite accurate though, among other things because flows relating to government services and households are also included.

To obtain a measure of gross value added or Net output, the value of intermediate goods and services must be subtracted from Gross Output. Net value added is obtained by additionally subtracting consumption of fixed capital (depreciation). Net output is an accounting concept used in national accounts such as the United Nations System of National Accounts (UNSNA) and the NIPAs, and sometimes in corporate or government accounts. ... Intermediate consumption is an economic concept used in national accounts, such as the United Nations System of National Accounts (UNSNA) and the US National Income and Product Accounts (NIPA). ... This article needs to be cleaned up to conform to a higher standard of quality. ... Declining-balance depreciation of a $50,000 asset with $6,500 salvage value over 20 years. ...

The statistical definition of Gross Output is dependent upon the definition of production applied. Typically some economic flows and activities are excluded from coverage in calculating the value of Gross Output, on the ground that they are unrelated to production in the domestic economy. These include foreign transactions, property income, transfers, and various government disbursements, unpaid housework and voluntary work. On the other hand, items are included which some economists would regard as spurious, such as the imputed rental value of owner-occupied housing (this is the average rents, at market rates, which owners of residential housing would receive if they rented out the housing they occupy). A stock in business and social accounting refers to the value of an asset at a balance date (or point in time), while a flow refers to the total value of transactions (sales or purchases) during an accounting period. ...

See also

• GDP
• Intermediate consumption
• Net output
• United Nations System of National Accounts (UNSNA)
• National accounts