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64-463: The GDP in Osaka–Kobe is $ 681 billion as measured by PPP as of 2015, making it one of the world's most productive regions, a match with Paris and London . MasterCard Worldwide reported that Osaka is the 19th ranking city of the world's leading global cities and has an instrumental role in driving the global economy. If Keihanshin were a country, it would be the 16th-largest economy in the world, with

128-511: A GDP of nearly $ 953.9 billion in 2012. The name Keihanshin is constructed by extracting a representative kanji from Kyoto ( 京 都 ) , Osaka ( 大 阪 ) , and Kobe ( 神 戸 ) . For the characters taken from Osaka and Kobe , the Chinese reading is used instead of the corresponding native reading . For the character taken from Kyoto , the Kan-on Chinese reading is used instead of

192-453: A Metropolitan Employment Area to the following cities of the Keihanshin region: Osaka, Kobe, Kyoto, Himeji, and Wakayama. The lists below indicate which cities belong to which metropolitan area. Towns and villages are not listed. The Osaka Metropolitan Employment Area has a population (as of 2015) of 12,078,820 and consists of the following cities: The Kyoto Metropolitan Employment Area has

256-409: A candidate for designated city status, a city must have a population greater than 500,000. An application for designation is made by a city with the approval of both the city and the prefectural assemblies. The following cities have populations greater than 500,000 but have not yet been nominated. The first form of the designated city system was enacted under Japan local government system in 1878 with

320-401: A country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets. Gross national income (GNI) equals GDP plus income receipts from the rest of the world minus income payments to the rest of

384-444: A fairly accurate idea of what it is and know it is tough to come up with quantitative measures for such constructs as happiness, quality of life, and well-being. From the perspective of environmental, social and governance (ESG) measures, GDP per capita trends can be influenced by factors such as gender parity and elements of regulatory quality. In an example of a developing country with a mixed economy from 2008 to 2021, elements such as

448-522: A measure of welfare (see below under limitations and criticisms ). After the Bretton Woods Conference in 1944, GDP became the main tool for measuring a country's economy. At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by a country's citizens at home and abroad rather than its "resident institutional units" (see OECD definition above). The switch from GNP to GDP in

512-419: A population (as of 2015) of 2,801,044 and consists of the following cities: The Kobe Metropolitan Employment Area has a population (as of 2015) of 2,565,501 and consists of the following cities: The Himeji Metropolitan Employment Area has a population (as of 2015) of 773,389 and consists of the following cities: The Wakayama Metropolitan Employment Area has a population (as of 2015) of 569,758 and consists of

576-537: A prefecture in 1943) as special cities ( 特別市 , tokubetsu shi ) . The system was replaced by the designated city system when the Local Autonomy Law was amended, in 1956. During the ensuing Japanese economic growth period, the government required designated cities to be forecast to reach a population of one million within the near future, but the requirement was dropped in 2005 to accommodate several geographically large cities that were formed by mergers, under

640-463: A reclaimed island south of Port Island opened in 2006, offering domestic flights. Keihanshin has a very extensive network of railway lines, comparable to that of Greater Tokyo. Main rail terminals in the cities include, Umeda / Osaka , Namba , Tennoji , Sannomiya , and Kyoto . JR Central and JR West operate high-speed trains on the Tōkaidō - Sanyō Shinkansen line. Shin-Ōsaka Station acts as

704-545: A study by the Brookings Institution . Kansai region and Top 20 Countries. Gross domestic product Gross domestic product ( GDP ) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic health of a country or region. Several national and international economic organizations maintain definitions of GDP, such as

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768-467: Is US$ 5,040,107.75 (in a million). Predictably, as a developed country, Japan has a higher GNI (by 182,779.46, in millions of USD), which is indicative that the production level in the country is higher than that of national production. On the other hand, the case with Armenia is the opposite, with GDP being lower than GNI by US$ 196.12 (in million). This demonstrates that countries receive investments and foreign aid from abroad. The Total income divided by

832-731: Is a metropolitan area definition developed at the Faculty of Economics of the University of Tokyo . This definition is comparable to the Metropolitan Statistical Area in the United States . The basic building blocks are municipalities. The core area is the set of municipalities that contain a densely inhabited district (DID) with a population of 10,000 or more. The Urban Employment Area is called Metropolitan Employment Area, when its core area has 50,000 DID population or more. Otherwise,

896-425: Is also sometimes expressed as: The third way to estimate GDP is to calculate the sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers' prices. Market goods that are produced are purchased by someone. In the case where a good is produced and unsold, the standard accounting convention is that the producer has bought the good from themselves. Therefore, measuring

960-838: Is calculated this way it is sometimes called gross domestic income (GDI), or GDP (I). GDI should provide the same amount as the expenditure method described later. By definition, GDI is equal to GDP. In practice, however, measurement errors will make the two figures slightly off when reported by national statistical agencies. This method measures GDP by adding incomes that firms pay households for factors of production they hire – wages for labour, interest for capital, rent for land and profits for entrepreneurship. The US "National Income and Product Accounts" divide incomes into five categories: These five income components sum to net domestic income at factor cost. Two adjustments must be made to get GDP: Total income can be subdivided according to various schemes, leading to various formulae for GDP measured by

1024-636: Is called the Urban Network . Major stations on the JR Osaka Loop Line include Osaka (Umeda) , Tennōji , Tsuruhashi , and Kyōbashi . JR West competes with such private rail operators as Keihan Electric Railway , Hankyu Railway , Hanshin Railway , Kintetsu Railway , and Nankai Electric Railway . The Keihan and Hankyu lines connect Osaka and Kyoto; the Hanshin and Hankyu lines connect Osaka and Kobe;

1088-469: Is contributed at each stage of production. This approach mirrors the OECD (Organisation for Economic Co-operation and Development) definition given above. Gross value added = gross value of output – value of intermediate consumption. Value of output = value of the total sales of goods and services plus the value of changes in the inventory. The sum of the gross value added in the various economic activities

1152-494: Is desirable to compensate for changes in the value of money—for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by the ratio between the value of money in the year the GDP was measured and the value of money in a base year. For example, suppose a country's GDP in 1990 was $ 100 million and its GDP in 2000 was $ 300 million . Suppose also that inflation had halved

1216-404: Is known as "GDP at factor cost". GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price". For measuring the output of domestic product, economic activities (i.e. industries) are classified into various sectors. After classifying economic activities, the output of each sector is calculated by any of the following two methods: The value of output of all sectors

1280-423: Is measured widely in that some measure of GDP is available for almost every country in the world, allowing inter-country comparisons. It is measured consistently in that the technical definition of GDP is relatively consistent among countries. It can be argued that GDP per capita is an indicator of standard of living. As a result, GDP per capita as a standard of living is a continued usage because most people have

1344-423: Is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress . It is often considered to be the world's most powerful statistical indicator of national development and progress. However, critics of

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1408-494: Is normally referred to as SNA2008 to distinguish it from the previous edition published in 1993 (SNA93) or 1968 (called SNA68) SNA2008 provides a set of rules and procedures for the measurement of national accounts. The standards are designed to be flexible, to allow for differences in local statistical needs and conditions. The raw GDP figure as given by the equations above is called the nominal, historical, or current GDP. When one compares GDP figures from one year to another, it

1472-407: Is now known, gross national income (GNI). The difference is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms. GDP is a product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of

1536-561: Is now operated by Osaka Metro . Other rapid transit systems in the region include Kobe New Transit which serves the artificial islands off the coast of Kobe including Kobe Airport, as well as Osaka Monorail that connects municipalities in Osaka Prefecture to Osaka International Airport. Compared with other urban regions of the world, the agglomeration of Osaka-Kobe is the ninth largest economy, in terms of gross metropolitan product at purchasing power parity (PPP) , in 2015 according to

1600-914: Is now the main international airport for the region. It sits on an artificial island well off-shore in Osaka Bay towards the Wakayama outlet. Kansai is the geographical term for the area of western Honshū surrounding Osaka. The airport island link to the mainland via the Sky Gate Bridge R , containing a six lane expressway and the Kansai Airport Line , a rail link connecting to the Hanwa Line , which connects Wakayama to Osaka . Limited express trains offer non-stop service to Osaka and onward to Kyoto. Local connections are made to other areas. Highway buses also offer service to many areas. Kobe Airport , built on

1664-450: Is then added to get the gross value of output at factor cost. Subtracting each sector's intermediate consumption from gross output value gives the GVA (=GDP) at factor cost. Adding indirect tax minus subsidies to GVA (GDP) at factor cost gives the "GVA (GDP) at producer prices". The second way of estimating GDP is to use "the sum of primary incomes distributed by resident producer units". If GDP

1728-860: The Cabinet of Japan under Article 252, Section 19, of the Local Autonomy Law . Designated cities are delegated many of the functions normally performed by prefectural governments in fields such as public education, social welfare, sanitation, business licensing, and urban planning. The city government is generally delegated the various minor administrative functions in each area, and the prefectural government retains authority over major decisions. For instance, pharmaceutical retailers and small clinics can be licensed by designated city governments, but pharmacies and hospitals are licensed by prefectural governments. Designated cities are also required to subdivide themselves into wards ( 区 , ku ) (broadly equivalent to

1792-512: The Kintetsu lines connect to Nara , Yoshino , Ise and Nagoya ; and the Nankai lines connect to Osaka's southern suburbs and Kansai International Airport as well as Wakayama and Mt. Koya . Many lines in Keihanshin accept either ICOCA or PiTaPa contactless smart cards for payment. Osaka, Kyoto and Kobe each have municipal subway systems. The Osaka Municipal Subway was privatized in 2018 and

1856-535: The OECD and the International Monetary Fund . The ratio of GDP to the total population of the region is the GDP per capita and can approximate a concept of a standard of living . Nominal GDP does not reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP

1920-531: The Shinkansen terminal station, though the two lines are physically joined, and many trains offer through service. This station is connected to Ōsaka Station at Umeda by the JR Kyoto Line and the subway Midōsuji Line . Shin-Osaka Station is the busiest high-speed stations. The smaller stations of Kyoto Station , Shin-Kobe Station , Nishi-Akashi Station , Himeji Station , and Aioi Station also are within

1984-402: The boroughs of London or the boroughs of New York City ), each of which has a ward office conducting various administrative functions for the city government, such as koseki and juminhyo resident registration and tax collection. In some cities, ward offices are responsible for business licensing, construction permits, and other administrative matters. The structure and the authorities of

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2048-474: The growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities , such as resource extraction , environmental impact and unpaid domestic work . Alternative economic indicators such as doughnut economics use other measures, such as the Human Development Index or Better Life Index , as better approaches to measuring the effect of

2112-479: The 2005 census, the designated cities used to define the Keihanshin MMA were Osaka , Kobe , and Kyoto . Sakai has subsequently become a designated city. This region consists of the combination of the metropolitan areas of Osaka, Kobe, Kyoto, and Himeji, and additionally includes several periurban areas (particularly in eastern Shiga Prefecture ) that are not part of the four metropolitan areas. As of 2015,

2176-478: The Keihanshin area and beyond, and are more popular than the Shinkansen for connections within the area due to service to more areas and more centrally located and well connected stations in areas also serviced by Shinkansen . Lower ticket prices also encourages usage, though they are more expensive than the regular/commuter trains which operate on the same lines. Both JR West and private lines connect Keihanshin and its suburbs. The commuter rail network of JR West

2240-451: The Keihanshin area. All trains on the two Shinkansen lines stop at Shin-Ōsaka Station and provide connections to other major cities in Japan. The Tokaido Shinkansen offers service to the east, stopping in such cities as Kyoto , Nagoya , Yokohama and Tokyo . From Tokyo connections can be made to other Shinkansen servicing areas north of Tokyo . The Sanyo Shinkansen offers service to

2304-537: The United States occurred in 1991. The role that measurements of GDP played in World War II was crucial to the subsequent political acceptance of GDP values as indicators of national development and progress. A crucial role was played here by the U.S. Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into institutions . The history of the concept of GDP should be distinguished from

2368-427: The accounting year. ) So for example if a car manufacturer buys auto parts , assembles the car and sells it, only the final car sold is counted towards the GDP. Meanwhile, if a person buys replacement auto parts to install them on their car, those are counted towards the GDP. According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in the United States, "In general,

2432-431: The area is called Micropolitan Employment Area. A DID is a group of census enumeration districts inhabited at densities of 4,000 or more persons per km. Outlying areas are those municipalities where 10% or more of the employed population work in the core area or in another outlying area. Overlaps are not allowed and an outlying area is assigned to the core area where it has the highest commuter ratio. This definition assigns

2496-417: The average production of a person in the country. Lists of GDP per capita: GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of the standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP every quarter, allowing trends to be seen quickly. It

2560-504: The country, but owned by one of its citizens, counts as part of its GNI but not its GDP. For example, the GNI of the US is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if a country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if

2624-540: The economy on human development and well being . William Petty came up with a concept of GDP, to calculate the tax burden , and argue landlords were unfairly taxed during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695. The modern concept of GDP was first developed by Simon Kuznets for a 1934 U.S. Congress report, where he warned against its use as

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2688-467: The entire Keihanshin region had a population of 19,302,746 over an area of 13,228 square kilometres (5,107 square miles). The Japan Statistics Bureau defines the set of municipalities that are entirely or mostly within 50 kilometres (31 miles) of the Municipal Office of Osaka as one measure of the metropolitan area. As of 2015, the population for this region was 16,260,117. The Urban Employment Area

2752-408: The following cities: Per Japanese census data, Keihanshin, also known as Greater Osaka, has had continuous population throughout the 20th century. From 1960 to 2010 the population nearly doubled from 10.6 million to 19.3 million. Beginning at around 2010, Keihanshin has experienced a small population decline. The core cities formed Keihanshin are government ordinance cities . These cities designated

2816-492: The history of changes in many ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector , by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In

2880-553: The income approach. A common one is: The sum of COE , GOS and GMI is called total factor income; it is the income of all of the factors of production in society. It measures the value of GDP at factor (basic) prices. The difference between basic prices and final prices (those used in the expenditure calculation) is the total taxes and subsidies that the government has levied or paid on that production. So adding taxes less subsidies on production and imports converts GDP(I) at factor cost to GDP(I) at final prices. Total factor income

2944-410: The information required (especially information on expenditure and production by governments). The international standard for measuring GDP is contained in the book System of National Accounts (2008), which was prepared by representatives of the International Monetary Fund , European Union , Organisation for Economic Co-operation and Development , United Nations and World Bank . The publication

3008-469: The introduction of "wards." Under that system, wards existed in every city. Most cities had only one ward, but the largest cities at the time (Tokyo, Osaka and Kyoto) were divided into 15, four, and two wards, respectively. The municipal system enacted in 1889 replaced ward assemblies with city assemblies but retained ward assemblies in Tokyo, Osaka and Kyoto, which had no assembly of their own but were governed by

3072-490: The major metropolitan area (MMA) definition used by the Japanese Statistics Bureau, the following cities in the prefectures of Mie , Shiga , Nara , Wakayama are included: There are two major airports. The fairly centrally located Osaka International Airport , laid over the border between the cities of Itami and Toyonaka , serves primarily domestic routes. Kansai International Airport opened in 1994 and

3136-599: The per capita gross domestic product and the unemployment rate have a significant effect on the number of MSMEs in the Philippines. Real GDP can be used to calculate the GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change . The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate . GDP can be contrasted with gross national product (GNP) or, as it

3200-462: The population is the Per capita income . City designated by government ordinance A city designated by government ordinance ( 政令指定都市 , seirei shitei toshi ) , also known as a designated city ( 指定都市 , shitei toshi ) or government ordinance city ( 政令市 , seirei shi ) , is a Japanese city that has a population greater than 500,000 and has been designated as such by order of

3264-429: The prefectural assembly. In 1898, the three cities were allowed to form city assemblies. The ward system was adopted by three more cities prior to World War II: Nagoya (1908), Yokohama (1927), and Kobe (1931). Under a 1911 statute, wards were granted a corporate personality and so treated as local entities. Following the war, the 1947 Local Autonomy Law grandfathered in the five subdivided cities (Tokyo having become

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3328-426: The productive enterprises in a country were owned by its own citizens and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNI non-identical. Production within a country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise located outside

3392-503: The products must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors ("producers", colloquially) must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. Also known as the Value Added Approach, it calculates how much value

3456-675: The raw GDP data. The GDP adjusted for changes in money value in this way is called the real GDP . The factor used to convert GDP from current to constant values in this way is called the GDP deflator . Unlike consumer price index , which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods. GDP can be adjusted for population growth, also called Per-capita GDP or GDP per person . This measures

3520-408: The same result. They are the production (or output or value added) approach, the income approach, and the speculated expenditure approach. It is representative of the total output and income within an economy. The most direct of the three is the production approach, which sums up the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of

3584-428: The source data for the expenditures components are considered more reliable than those for the income components [see income method, above]." Encyclopedia Britannica records an alternate way of measuring exports minus imports: notating it as the single variable NX. Within each country GDP is normally measured by a national government statistical agency, as private sector organizations normally do not have access to

3648-459: The three largest cities as special cities with Tokyo in 1889. Kobe designated the six largest cities as special cities in 1922, and adopted the ward system in 1931. Following World War II, the six largest cities was replaced by the government designated city system in 1956. Afterwards, Sakai became a government designated city in 2006. The core cities of Keihanshin are: The other cities in the prefectures of Osaka, Hyōgo, Kyoto and Nara include: In

3712-536: The total expenditure used to buy things is a way of measuring production. This is known as the expenditure method of calculating GDP. GDP (Y) is the sum of consumption (C) , investment (I) , government expenditures (G) and net exports (X − M) . Here is a description of each GDP component: C , I , and G are expenditures on final goods and services; expenditures on intermediate goods and services do not count. (Intermediate goods and services are those used by businesses to produce other goods and services within

3776-421: The usual Go-on Chinese reading. The Japan Statistics Bureau defines a Major Metropolitan Area or MMA ( 大都市圏 ) as a set of municipalities where at least 1.5% of the resident population aged 15 and above commute to school or work in a designated city (defined as the core area). If multiple designated cities are close enough to have overlapping outlying areas, they are combined into a single multi-core area. In

3840-465: The value of its currency over that period. To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as a base year. The result would be that the GDP in 2000 equals $ 300 million × 1 ⁄ 2 = $ 150 million , in 1990 monetary terms. We would see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it might appear from

3904-585: The wards are determined by municipal ordinances. The 23 special wards of Tokyo are not part of this system, as Tokyo is a prefecture, and its wards are effectively independent cities. Although the two largest wards of Tokyo, Setagaya and Nerima , are populous enough to become designated cities, they are not considered to be "cities" within the meaning of the Local Autonomy Law and so are not designated as such. No city designated by government ordinance has ever lost that status. Cities designated by government ordinance have been established since 1956. To become

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3968-586: The west, stopping in such cities as Kobe , Okayama , Hiroshima , and Fukuoka . Through service is also offered to the Kyushu Shinkansen extending service to such cities as Kumamoto and Kagoshima . There are also numerous Limited Express services which operate on conventional lines, but are designed for comfortable long-distance travel. Many of these trains operate at speeds that most other countries would consider "high-speed". From Osaka and Kyoto , Limited Express services connect most major cities within

4032-473: The words of one academic economist, "The actual number for GDP is, therefore, the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework." China officially adopted GDP in 1993 as its indicator of economic performance. Previously, China had relied on a Marxist-inspired national accounting system. GDP can be determined in three ways, all of which should, theoretically, give

4096-459: The world. In 1991, the United States switched from using GNP to using GDP as its primary measure of production. The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts . Another example that amplifies the difference between GDP and GNI is the comparison of developed and developing country indicators. The GDP of Japan for 2020

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