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.
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

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.
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.

gross domestic product (GDP)

the total money value of all final goods and services produced in an economy over a one year period.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
'You can only see GDP per capita improve if the economic growth itself can be sustained at a high level.
After 1870 the correlation between GDP per capita and well-being measures became stronger, due to cheaper American food imports in Europe boosting real wages, the rise of democratic regimes, breakthroughs in medical knowledge and social policy measures.
Furthermore, Dobler (2009) investigated the effects of integration, institutions and geography on GDP per capita. Regarding theoretical reasoning, this study gave importance to the rise of organizations and their belongings on economic growth.
Conclusion: The study results revealed that the most important determinant for estimating the share of GDP allocated to health expenditure was GDP per capita. Future studies should be conducted with the inclusion of different variables in the model.
Against a backdrop of fluctuating economic conditions and Brexit negotiations, the 2017 UK Prosperity Map shows that, while most areas of the country are more prosperous overall than last year, in many cases, cities are outpacing their wider region, with clear disparities opening up when it comes to GDP per capita and earnings.
In the service sector: China and Indonesia have GDP per capita which are 60 percent and 13 percent higher than that of the country, respectively, although that of Vietnam is 40 percent lower.
The dependent variable (GRit) is the growth rate of GDP per capita, and explanatory variables are corruption (CORRit), democracy (DEMit) and set of control variables (Xijt).
The GDP per capita in PPP is converted in natural logarithm as suggested by the literature for the ease of calculations and derivation of standard deviation.
In [7], the author proposes a multi-factorial regression analysis, explaining the dependence between IT&C expenditure and the level of Internet access, GDP per capita, Gross domestic expenditure on R&D, IT&C expenditure - Telecommunication.
The GDP per Capita, in Cambodia, when adjusted by Purchasing Power Parity is equivalent to 17 percent of the world's average.