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gross domestic product

Line breaks: gross do|mes¦tic prod|uct
(abbreviation: GDP)

Definition of gross domestic product in English:

noun

The total value of goods produced and services provided in a country during one year. Compare with gross national product.
Example sentences
  • 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:

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