Also found in: Dictionary, Thesaurus, Medical, Acronyms, Encyclopedia, Wikipedia.


Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.


Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson


Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
One of the most damning outcomes of the last fiscal year was an unprecedented steep fall in tax to GDP ratio, perhaps justifying the need for a massive Rs1.550tr worth of additional taxation measures during current year.
The Azerbaijani government forecasts 3.2 percent GDP growth in 2019.
In the euro area the government debt to GDP ratio declined from 87.1% at the end of 2017 to 85.1% in 2018, and in the EU28 from 81.7% to 80.0%, according to Eurostat.
IMF's projected budget deficit is Rs550 billion, or 1.6% of GDP, higher than what the finance ministry has estimated in its revised budget.
Therefore, and if we were to rethink the way we measure GDP, its main formula can be adjusted to address the following.
Property Tax Real estate is a driver of the Lebanese economy constituting 14.48 percent of GDP. The real estate registration fees (composing 7.57 percent of total tax revenues) reached LL802 billion ($532 million) in 2016, up by 3.68 percent from 2015's.
While its GDP growth rate at 4.9 percent belonged to the lower half of the region in 2016, Indonesia posted the highest GDP among Asean countries with US$932.3 billion.
FBR tax collection in 2012-13 was 8.7 percent of GDP which has been increased to 10.5 percent of GDP during 2016-17.
Many could argue Sarkozy was only open to thinking beyond GDP because the predictions of economic growth under his government at the time were unfavourable.
While the industrial revolution may have sparked an interest in national income accounting, ultimately political forces and world economic events shaped modern GDP. During the Great Depression, British economist Colin Clark and American economist, Simon Kuznets, were charged with producing national income accounts.
The most closely watched indicator is GDP. This indicates the gross amount of added value that a country produces, and per capita GDP is often used as an indicator to compare a country's wealth internationally.
The Little Big Number: How GDP Came to Rule the World and What to Do about It