GLP is the net measure of wealth generated by the local economy and is calculated using the expenditure method, the same way as GDP is calculated for a national economy and is presented in the GLP Report table.

The expenditure approach is where all forms of final expenditure, including consumption by households, consumption by government, additions or increases to assets (minus disposals) and exports (minus imports) are added. The expenditure approach does not include intermediate expenditure, as this would lead to double-counting. Intermediate expenditure is expenditure by a business on goods and services that are used in the process of production, rather than "end point" consumption. An example of intermediate expenditure is the expenditure by a baker on the flour to produce a loaf of bread. Data on intermediate expenditure and intermediate sales are included in the "Industry Sector Profiles" part of economy.id^® (under Industry Structure).

Per capita GLP is also presented in the table to provide a comparison of the relative wealth of the local area to the region.