What is the Gross Domestic Product?

Gross domestic product (GDP) is defined by the Organisation for Economic Co-operation and Development (OECD) as "an aggregate measure of production equal to the sum of the gross values ​​added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). "

GDP. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. The GDP report is released at 8:30 am EST on the last day of each quarter and reflects the previous quarter.

Monetary value of all goods and services produced within a country in  a fiscal year . GDP is usually calculated on an annual basis.

 

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DEFINITION OF 'GROSS DOMESTIC PRODUCT - GDP'

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 includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.

GDP = C + G + I + NX

where:

"C" is equal to all private consumption, or consumer spending, in a nation's economy"G" is the sum of government spending"I" is the sum of all the country's businesses spending on capital"NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)

INVESTOPEDIA EXPLAINS 'GROSS DOMESTIC PRODUCT - GDP'

GDP is commonly used as an indicator of the economic health of a country, as well as to gauge a country's standard of living. Critics of using GDP as an economic measure say the statistic does not take into account the underground economy - transactions that, for whatever reason, are not reported to the government. Others say that GDP is not intended to gauge material well-being, but serves as a measure of a nation's productivity, which is unrelated.

To know more about GDP, please read Economic Indicators: Gross Domestic Product (GDP).

Common Questions About Gross Domestic Product - GDP:

• How did World War II impact European GDP?
• What economic indicators do oil and gas investors need to watch?
• What economic indicators do agriculture investors need to watch?
• Where does stimulus economics come from?

For More On Gross Domestic Product - GDP Check Out:

• China's GDP Examined: A Service-Sector Surge
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GDP is an indicator of the total  finish product  and services of the certain country and a gauge to determine its  economic status by calculating comparing in the previous year performance in percentage. Example, the low rate of unemployment is an indicator that the economy of a certain country is  stable and strong.

Great answer Mr. Vinod

 

Greetings to all

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 includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.

GDP = C + G + I + NX

 

agree With All Expert Answer And U Sir

Agree with Mr. Vinod Jetley...............

GDP is the measurement of a country's total output.

the total value of goods produced and services provided in a country during one year