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gross domestic product

American  
[grohs duh-mes-tik prod-uhkt] / ˈgroʊs dəˈmɛs tɪk ˈprɒd əkt /

noun

  1. gross national product excluding payments on foreign investments. GDP

gross domestic product British  

noun

  1.  GDP.  the total value of all goods and services produced domestically by a nation during a year. It is equivalent to gross national product minus net investment incomes from foreign nations

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
gross domestic product Cultural  

  1. The monetary value of all of a nation's goods and services produced within a nation's borders and within a particular period of time, such as a year. It became the official measure of the U.S. economy in 1991. It replaced “gross national product,” which covered all goods and services produced by U.S. residents regardless of where they were working.

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Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

For example, he once observed External link that gross domestic product was getting lighter.

From Barron's

Trade liberalization is wreaking havoc with industry, even as agricultural exports drove 4.4% gross domestic product growth last year.

From Barron's

He said that while federal personal income tax brings in revenue equal to 6% and 10% of gross domestic product, “tariff revenue has never reached even half of one percent of GDP.”

From Barron's

Under current policies, the general government deficit will remain at 7%-8% of gross domestic product, pushing debt to 140% of GDP by 2031, it said.

From The Wall Street Journal

The stakes are high for the country, where tourism generates roughly 8.5% of gross domestic product, according to data from the Organization for Economic Cooperation and Development.

From The Wall Street Journal

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.