| gross national product excluding payments on foreign investments. Abbreviation: GDP |
| 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 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.
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