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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.
In physical terms, GDP is a huge basket of goods and services that is available for final uses including consumer use, government use, investment use, and foreign use (export). Therefore, the total value of GDP is equal to the total value of final use or final demand.n industry's contribution to GDP is normally measured by that industry's total value-added. It is indeed in that sense that Triplett and Bosworth state that the transportation sector represented 3.3% of GDP in 2001. 12 It is also in this sense that one can talk about logistics' contribution to GDP.