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

See Examples For:

gross domestic product

Corporate investment in equipment largely tied to AI contributed 0.8 percentage points to the 2.1% increase in gross domestic product in the first quarter.

From MarketWatch ● Jul. 27, 2026

Remittances from abroad help anchor the economy, accounting for nearly a third of the gross domestic product.

From Los Angeles Times ● Jul. 26, 2026

Interest-rate decisions are also due in Japan and the U.K., while investors will watch Chinese purchasing managers’ indexes plus eurozone gross domestic product and inflation data.

From The Wall Street Journal ● Jul. 24, 2026

First-estimate eurozone gross domestic product data for the second quarter on Thursday and flash estimate inflation data for July on Friday will give investors food for thought.

From The Wall Street Journal ● Jul. 24, 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