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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.
The parts of the formula are simple: 1  C = total spending by consumers. 2  I = total investment (spending on goods and services) by businesses. 3  G = total spending by government (federal, state, and local). ( 4 Ex-Im) = net exports (exports-imports).o we can also measure an economy based on its production. Therefore, when you add up all of these transactionsâand the value of foreign tradeâthe result is gross domestic product, or GDP. The formula for GDP is: 1  GDP = C + I + G + (Ex-Im).