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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.
GDP per capita is a measure of average income per person in a country. 1  GDP stands for Gross domestic product. 2  This measure National income / National Output and National expenditure. 3  GDP per capita divides the GDP by the population.4  Real GDP per capita takes into account inflation. GDP stands for Gross domestic product. 2  This measure National income / National Output and National expenditure. 3  GDP per capita divides the GDP by the population. 4  Real GDP per capita takes into account inflation.