The main economic indicator which measures the value or size of the whole Jersey economy is Gross Value Added (GVA). It is calculated from a robust methodology based on a recognised international framework. Dividing GVA by Jersey's total population is a way of measuring the economic standard of living in the Island. If GVA is increasing at a faster rate than the population, the standard of living is likely to rise. The indicator is presented as an index set at 100 in 2013 and takes into account the effect of inflation so that Jersey's economic standard of living can be compared over time.