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gross domestic product

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gross domestic product

–noun
gross national product excluding payments on foreign investments. Abbreviation: GDP
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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gross domestic product  
n.   Abbr. GDP
The total market value of all the goods and services produced within the borders of a nation during a specified period.
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Cultural Dictionary

gross domestic product (GDP)

The monetary value of all of a nation's goods and services produced within a nation's borders and within a particular period of time, such as a year. It became the official measure of the U.S. economy in 1991. It replaced “gross national product,” which covered all goods and services produced by U.S. residents regardless of where they were working.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Gross Domestic Product - GDP

The monetary value of all the goods and services produced by an economy over a specified period. It includes consumption, government purchases, investments, and exports minus imports.

Investopedia Commentary

This is perhaps the best indicator of the economic health of a country. It is usually measured annually although, monthly stats are also released.

Related Links

Macroeconomic Analysis

See also: Economy, Export, GDP Deflator, GNP, Import

Also spelled: GDP

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