net domestic product


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Related to net domestic product: Net National Product, national income

Net Domestic Product

A country or other geographical unit's gross domestic product less the collective depreciation on its capital assets. For example, the net domestic product may calculate the depreciation on all the factories in a country. In order for an economy to grow, the gross domestic product must exceed the net domestic product; otherwise, this indicates that depreciation on capital assets is outpacing other economic growth.

net domestic product

the money value of a nation's annual output of goods and services less CAPITAL CONSUMPTION experienced in producing that output. See NATIONAL INCOME ACCOUNTS.
References in periodicals archive ?
Spant, Roland (2003) "Why Net Domestic Product Should Replace Gross Domestic Product as a Measure of Economic Growth".
The Net Domestic Product of India, in current prices, grew by an impressive 732 percent over the thirty-year period covered by the book under review.
According to a recent study conducted at the Kerala-based Centre for Socioeconomic and Environmental Studies, the state's overseas remittances are equivalent to 20 percent of its net domestic product.