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What is 'Gross Domestic Product - GDP'. Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well.
Gross Domestic Product(GDP) Economic growth is measured in terms of an increase in the size of a nation's economy. A broad measure of an economy's size is its output.The most widely-used measure of economic output is the Gross Domestic Product (abbreviated GDP).GDP generally is defined as the market value of the goods and services produced by a country.DP versus GNP. GDP measures the output of goods and services within the borders of the country. Gross National Product (GNP) measures the output of a nation's factors of production, regardless of whether the factors are located within the country's borders.