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by maratc
309 days ago
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But that's the same with GDP: if you and me are living on an uninhabited island and grow/catch all of our food for consumption, our GDP is $0. If however I rent out my bungalow to you and rent yours instead, and I sell you all my food and buy your food instead, somehow our GDP skyrockets. |
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No. The imputed value of goods produced for self-consumption is included in GDP calculations.
The UN SNA term of art is own final consumption: https://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf