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

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

From Los Angeles Times ● Jul. 26, 2026

AI is additionally being used in the home in ways that, while unlikely to show up in measures such as gross domestic product, is helping people be more efficient.

From The Wall Street Journal ● Jul. 23, 2026

This comes as U.S. debt already topped 100% of gross domestic product this spring.

From MarketWatch ● Jul. 22, 2026

Iran’s gross domestic product is expected to shrink by 5.4% this year, according to forecasts by the International Monetary Fund prepared before the recent uptick in fighting.

From The Wall Street Journal ● Jul. 17, 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