Derivation of GDP

Data from the Canadian SUTs can be used to derive GDP using the three standard methods. GDP is measured using the income approach by summing the incomes (compensation of employees, gross mixed income, gross operating surplus, taxes less subsidies on products, and taxes less subsidies on production) generated in the economy, which totals $1,990 billion in 2014. The expenditure approach generates the same results by subtracting imports ($647 billion) from total final demand ($2,637 billion). The gross value-added approach also gives a GDP of $1,990 billion by taking total output ($3,511 billion), adding taxes on products ($140 billion) and subtracting total intermediate consumption ($1,661 billion).