Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
No. Simply put, GDP measures the sum total of private Consumption, business and private Investment and Goverment expenditures (the so-called "CIG") plus exports less imports.

My point here is that, if Scotland were an independent country, then Scottish oil and gas consumed in England, as either an investment (business input into production of other goods and services) or as private consumption, would be classified as an Export. And, if the UK did proper GDP by country (England, Scotland, Wales and the part of Ulster they still occupy) then this consumption or investment as input in England would also be classified as GDP. However, calculating via GVA, it would be classified as intermediate consumption and thus excluded, which understates Scotland's prosperity generation and overstates that of England.

The Hun is always either at your throat or at your feet. Winston Churchill

by r------ on Mon Jan 14th, 2008 at 02:29:03 PM EST
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