Gross Domestic Product
GDP is defined as the total market value of all the goods and services produced within the borders of a nation during a specified period of time, normally a year. The GDP and the unemployment are the macroeconomic variables in Puntland which hasn’t been estimated before. In Puntland the only macroeconomic variable carried out is inflation.
In general terms, GDP by industry is one of the three GDP series produced by central statistics departments of countries. It is also known as the Output based GDP, because it sums the value added (output less intermediate consumption of goods and services) of all industries in a country. This GDP series is published on a yearly basis and thus delivers the earliest and most up-to-date information on current developments in an economy. The other two GDP series are the income based GDP, which tallies earnings that are generated by the productive activity, and the expenditure based GDP, which is equal to final expenditure on goods and services produced.