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gross domestic product |
Also found in: Financial, Wikipedia, Hutchinson | 0.04 sec. |
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gross domestic product: see gross national product gross domestic product plus income earned by domestic residents through foreign investments minus the income earned by foreign investors in the domestic market. Gross domestic product, often confused with GNP, is calculated from the total value of goods and services produced in an ..... Click the link for more information. . gross domestic product (GDP)Total market value of the goods and services produced by a nation's economy during a specific period of time. GDP is customarily reported on an annual basis. It is defined to include all final goods and services—that is, those that are produced by the economic resources located in that nation regardless of their ownership and are not resold in any form. GDP differs from gross national product (GNP), which is defined to include all final goods and services produced by resources owned by that nation's residents, whether located in the nation or elsewhere. gross domestic product the total value of all goods and services produced domestically by a nation during a year. It is equivalent to gross national product minus net investment incomes from foreign nations How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| It's worth noting that in 1800, when the vast majority of people on the planet were farmers, the global average GDP per capita, adjusted for inflation, was about $600. Over the same period, African GDP per capita fell from $1,770 in constant 1995 dollars adjusted for purchasing power parity (PPP) to $1,479. GDP per capita based on purchasing power parity (PPP) Trinidad and Tobago $13,958 Argentina $13,153 Chile $11,537 Costa Rica $10,316 Mexico $10,090 Uruguay $9,619 Brazil $8,745 Panama $7,327 Colombia $7,303 Dominican Republic $7,055 Venezuela $5,801 Peru $5,594 Paraguay $4,663 El Salvador $4,525 Jamaica $4,471 Guatemala $4,136 Ecuador $4,010 Bolivia $3,049 Honduras $2,793 Nicaragua $2,779 SOURCE: IMF Note: Table made from bar graph. |
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