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

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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

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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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Compare meaning

How does gross-domestic-product compare to similar and commonly confused words? Explore the most common comparisons:

• gross domestic product vs. gross national product

Example Sentences

Consumption is typically about 40% of China’s total gross domestic product, compared with 70% in the U.S. and 60% in Japan.

From The Wall Street Journal • May 11, 2026

In terms of economic data, the first-quarter gross domestic product figures on Thursday will be the highlight.

From The Wall Street Journal • May 8, 2026

That’s on the assumption that corporate revenue grows at the same rate as gross domestic product.

From MarketWatch • May 6, 2026

The U.S. is getting a potential 0.2% boost on its gross domestic product due to the increased export and production.

From Barron's • May 4, 2026

About six percent of the country’s gross domestic product is spent on education, more than double the percentage of comparable spending in the United States, Japan, or Britain.

From "Escape from Camp 14: One Man's Remarkable Odyssey from North Korea to Freedom in the West" by Blaine Harden