gross domestic product

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Gross domestic product (GDP)

The market value of final goods and services produced over time including the income of foreign corporations and foreign residents working in the U.S., but excluding the income of U.S. residents and corporations overseas.

Gross Domestic Product

A measure of the value of the total production in a country, usually in a given year. Gross domestic product is calculated by adding together total consumer spending, total government spending, total business spending, and the value of net exports. GDP is considered one of the leader indicators of the health of a nation's economy. GDP growth is considered desirable and represents the fact that businesses are producing and that consumers and the government are buying. It is often used as a way to measure a country's standard of living. See also: GNP.

gross domestic product (GDP)

The dollar output of final goods and services in the economy during a given period (usually one year). GDP is one measure of the economic vitality of a country and provides some indication of the health of near-term corporate income. See also economic activity.

Gross domestic product (GDP).

The total value of all the goods and services produced within a country's borders is described as its gross domestic product.

When that figure is adjusted for inflation, it is called the real gross domestic product, and it's generally used to measure the growth of the country's economy.

In the United States, the GDP is calculated and released quarterly by the Department of Commerce.

gross domestic product (GDP)

the total money value of all final goods and services produced in an economy over a one year period.

gross domestic product (GDP)

the total money value of all final GOODS and SERVICES produced in an economy over a one-year period. Gross domestic product can be measured in three ways:
  1. the sum of the value added by each industry in producing the year's output (the output method);
  2. the sum of factor incomes received from producing the year's output (the income method);
  3. the sum of expenditures on the year's domestic output of goods and services (the expenditure method).

In 2003, the UK's GDP totalled £1,100 billion (in current market prices). See Fig. 133 (b) , NATIONAL INCOME ACCOUNTS entry See Fig. 166 , REAL VALUES entry, which gives details of the UK's GDP for the period 1997–2003. See SECULAR TREND.

References in periodicals archive ?
Angus Maddison's (2001) historical estimates of annual real gross domestic product (GDP) per capita show that nearly all the economic growth in annual real GDP per capita that has ever occurred in the world occurred after 1820.
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As you come here and you see the GDP per capita, for instance, in Israel which is about $21,000, and compare that with the GDP per capita just across the areas managed by the Palestinian Authority, which is more like $10,000 per capita, you notice such a dramatically stark difference in economic vitality," he said in Israel.
GDP per capita for the Palestinian Territory was $395 during first quarter 2012, an increase by 2.
To be included, countries had to have population of more than 35m; GDP growth over the next decade expected to average over 4% per year; GDP per capita below $6,000; relatively undeveloped markets; and substantial potential in terms of a young population, attractive resources and the ability to develop based on these criteria.
The Employed Full Time for an Employer Index has a strong, positive relationship with GDP per capita, meaning that countries with a higher percentage of workers employed full time for an employer tend to have higher GDP per capita.
It will get closer to the Israeli GDP per capita and Syria's economy will become the strongest in the Middle East region
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According to the report indicators, the GDP per capita in Jordan amounted to $5,375 in 2014.
Standard & Poor's (S&P) has estimated Qatar's GDP per capita at $81,000 in 2015.