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GDP gives the picture from the consumers’ side, while GVA gives the picture from the producers’ side. By definitions of both GDP and GVA "the amount of goods and services PRODUCED in an economy in a year". Here is my question, if both GDP and GVA are 'produced' side according to definition then why GDP from consumer's side and GVA from producer's side? I am confused so please clarify my doubt. Here the source https://www.google.com/amp/s/m.economictimes.com/markets/stocks/news/the-debate-over-the-use-of-gva-and-gdp/amp_articleshow/58905721.cms

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  • $\begingroup$ It's in 4 th point-->4.What is the difference between the two? $\endgroup$ – Nandy Aug 18 at 6:10
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In a closed economy, everything that is consumed necessarily corresponds to the amount of goods produced. Production side and consumer's side are just two ways of adding up, but they will produce the same number.

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