GDP

What does GDP stand for?

Gross Domestic Product

GDP (gross domestic product) is an economic statistic that measures the monetary value of the goods and services produced within a country's borders in a specified time period. It is used to measure a country or region's economic performance and compare that performance to others'.

Typically, GDP is calculated annually, by adding together the value of a country's private and public consumption, government outlays, investments, and exports, minus the country's imports. You may see economists and other analysts use a country's GDP to gauge the country's current standard of living and future economic prospects.

Example

"Sure, the US is number one in total GDP, but it's only fifth in GDP per capita."
While GDP can be a useful comparison tool, it doesn't measure everything worthwhile ...

While GDP can be a useful comparison tool, it doesn't measure everything worthwhile ...

Related Slang

Usage

Last Updated: April 15, 2022

GDP definition

This page explains what the acronym "GDP" means. The definition, example, and related terms listed above have been written and compiled by the Slangit team.

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