Definition of gross domestic product in English:
The total value of goods produced and services provided in a country during one year. Compare with gross national product.
- That failure is part of a pattern that began in 1970 when wealthy countries agreed to spend 0.7 percent of their annual gross domestic products at a special UN General Assembly development conference.
- This is more than the combined gross domestic product of 150 nations.
- The current rules allow an EU country to run a deficit of as much as 3 per cent of its gross domestic product.
Definition of gross domestic product in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.