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Value Added

This is the additional value goods and services acquire when transformed during the productive process. Value added, or gross domestic product, is the value created during the productive process. It is a duplicate-free measure and is obtained by deducting the value of the goods and services used as intermediary supplies from gross production. It may also be determined by the sum of payments to production factors, that is, payroll, consumption of fixed capital, operating surplus and production taxes net of the respective subsidies.
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