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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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

See Examples For:

gross domestic product

Last year, Americans spent $915 billion on pharmaceuticals — that’s more than the gross domestic product of Ireland.

From MarketWatch ● Aug. 13, 2026

Malaysia will release revised second-quarter gross domestic product data on Friday.

From The Wall Street Journal ● Aug. 7, 2026

Canada’s economy is on track for stronger-than-expected growth in the second quarter of the year, a rebound after gross domestic product contracted two quarters running.

From The Wall Street Journal ● Aug. 6, 2026

Real gross domestic product grew at an annual rate of 4% during Bill Clinton’s eight years as president, which helps explain why he left office with a job-approval rating of 66%.

From The Wall Street Journal ● Aug. 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