Rosstat Presents Data on the Gross Regional Product for 2019 and an Updated Estimate for 2018
The GRP of the Russian Federation, comprised of the GRP of its subjects, amounted to 94,807.4 billion Rubles in 2019. The index of its physical volume relative to 2018 is 101.6%, the deflator index is 103.4%. The GRP physical volume index's highest value was observed in the Far Eastern Federal District (104.0%).
The updated GRP estimate for 2018 was 90,202.9 billion rubles. When calculating the indicator, the statistical reporting data specified by the respondents was taken into account.
The GRP calculation for 2018 and 2019 is based on the following methodological changes.
The cost of housing services produced and consumed by homeowners in the constituent entities of the Russian Federation is determined in accordance with the methodology for calculating the corresponding indicator for the Russian Federation as a whole.
The calculation of the cost of services for living in their own homes, taken into account as part of the output, value-added and gross profit of the industry "Real estate operations" and as part of the final consumption of households, is based on the method of user expenses. This method involves estimating each component of the owners' expenses for housing maintenance, if they were renting it out, and includes:
- expenses related to the maintenance, servicing and repair of residential premises, including net premiums for housing insurance (intermediate consumption);
- tax on residential property of individuals (other net taxes on production);
- the amount of net profit;
- consumption of fixed capital, based on the current market value of the housing stock.
The current market value of residential buildings is determined based on a comparative approach, which involves estimating the value of the object of evaluation at the level of the value of similar objects for which information on the prices of transactions and offers is available.
The indicator "consumption of fixed capital" is calculated for the first time for the subjects of the Russian Federation, based on the current market value of fixed capital. The calculation of the indicator in the new methodology affected the increase in the volume of output and the gross value added of non-market services.
The transition to the new methodology affected the nominal volume and industry structure of GRP: in 2018, compared to the previous estimate, changes in individual subjects of the Russian Federation ranged from 0.7 to 29.3%.
To the greatest extent, methodological changes affected the performance of the industry "Activities related to real estate transactions" (the share of industry in the structure of the economy of individual regions has changed from -1.2% to 20.2%) and the indicators "Public administration and military security; social security" (the change in the share of industry in the structure of the economy of individual regions made up from 1.5% to 5.9%).
The publication of the retrospective series of GRP indicators for 2016-2017 will be made in April 2021.
The indices of physical volume by type of economic activity (sections OKVED2: B, C, D, E) for 2019 are calculated considering the indices of industrial production, recalculated taking into account the new base year. The base year is 2018 (previously 2010).
GRP estimates for 2018-2019 are based on data from federal statistical observations, reports on financial results of annual accounting statements, and administrative data from ministries and departments.
The evaluation of the indices of the physical volume of industry indicators of GRP for 2019 was carried out based on industry statistics.
GRP, as opposed to GDP:
- is calculated in basic prices, i.e. it includes subsidies for products and does not include taxes on products;
- does not take into account the activities of financial intermediaries;
- partially takes into account the added value created by the public administration.
Detailed information on GRP indicators can be found in the section "National Accounts."