Intermediate inputs of an industry are the goods and services (including energy, raw materials, semi-finished goods, and services that are purchased from all sources) that are used in the production process to produce other goods or services rather than for final consumption. It equals the industry’s gross output (consisting of sales or receipts and other operating income, commodity taxes, and inventory change) less value added (consisting of compensation of employees, taxes on production and imports less subsidies, and gross operating surplus).
Published