Economic Development Indices Questions
The GLPI (Gross Local Product Index) is calculated by dividing the Gross Local Product (GLP) of a specific region or area by the national Gross Domestic Product (GDP) and multiplying the result by 100. The formula for calculating the GLPI is as follows:
GLPI = (GLP / GDP) * 100
The GLP represents the total value of goods and services produced within a specific region, while the GDP represents the total value of goods and services produced within a country. The GLPI is used to measure the economic performance and development of a particular region in relation to the overall national economy.