gross domestic product


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Related to gross domestic product: GDP Growth Rate, Real GDP Growth Rate

gross domestic product:

see gross national productgross national product
(GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly. In estimating the GNP, only the final value of a product is counted (e.g., automobiles, but not the steel that they contain).
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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
References in periodicals archive ?
8% of its gross domestic product on insurance, and for other developing Asian countries, dollars spent on insurance account for 2% to 5% of gross domestic product.
2 Gross domestic product at the price levels and PPPs of year 2005
Los Angeles County alone had a gross domestic product of $352 billion, ranking it 17th on the list of the world's biggest economies, unchanged from 1999 when the GDP was $310 billion.
If it were a nation, it would rank just behind Switzerland and ahead of Argentina in terms of gross domestic product.

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