Definition of gross domestic product in English:

gross domestic product

(also GDP)

noun

  • The total value of goods produced and services provided in a country during one year.

    • ‘This is more than the combined gross domestic product of 150 nations.’
    • ‘The ten applicants have a lower gross domestic product than the Netherlands.’
    • ‘Real gross domestic product has been growing for more than a year, but businesses aren't hiring.’
    • ‘Perhaps the most onerous of those burdens is a public debt that is 106 per cent of the annual gross domestic product.’
    • ‘You may wonder what burger sales have to do with a nation's gross domestic product.’
    • ‘That is a huge company that has an annual turnover similar to the gross domestic product of New Zealand.’
    • ‘Exports account for 36 percent of the gross domestic product in a nation that has been open to the globalization of its economy.’
    • ‘The island city state located at the tip of the Malay peninsula is now home to some four million people, and has one of the highest per capita gross domestic products in the world.’
    • ‘Those advances helped push the US gross domestic product higher while inflation remained relatively tame.’
    • ‘The world's major economies are spending record amounts of their gross domestic products on health care.’
    • ‘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.’
    • ‘It is calculated from the ratio of indirect taxes less subsidies to gross domestic product at market prices.’
    • ‘The current rules allow an EU country to run a deficit of as much as 3 per cent of its gross domestic product.’
    • ‘Real gross domestic product is growing at the fastest yearly pace in two decades.’
    • ‘However, do not forget also that domestic consumption is also contributing to the gross domestic product.’
    • ‘This information is also used to estimate the gross domestic product per region.’
    • ‘The calculation of economic growth is based on the nominal gross domestic product deflated by a price index.’
    • ‘Real gross domestic product has been contracting since the third quarter of 1998.’
    • ‘It provides around 20 percent of the national gross domestic product.’
    • ‘Revenues from health care are a cornerstone of our gross domestic product.’
    production, product, amount produced, quantity produced, yield, harvest, return, volume, gross national product, out-turn, achievement, accomplishment, solutions
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Pronunciation

gross domestic product