Value Added
The difference at each stage of production between the cost of a product and the cost of all capital and labour input or any other input used to make this product. It "measures the value created by production". In essence, it is obtained by subtracting the value of inputs (the cost of materials, fuel and other supplies otherwise called intermediate consumption) from the value of an enterprise´s gross output.
"Gross valued added is an unduplicated measure of output in which the value of the goods and services used as intermediate inputs are eliminated from the value of output" (United Nations, The System of National Accounts, 1993, paragraphs 6.222 and 6.223).

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