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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 (Gross Domestic Product) is the total monetary value of goods and services produced over a given period in a given. territory. GDP is used in macroeconomics for determining the economic performance of individual states. The word product. expresses increase of wealth. The period is usually a year. Change in GDP for a certain period reflects the speed of economic. growth of the country. In international comparisons adjusted GDP per capita is also used, which can be used as a rough measure.