gross domestic product

noun

: the gross national product excluding the value of net income earned abroad

Examples of gross domestic product in a Sentence

Recent Examples on the Web According to the terms of an agreement reached last year, member states will work to spend at least 2% of national gross domestic product on military investment. Jamelle Bouie, The Mercury News, 14 Feb. 2024 Premium markets for non-Chinese supplies $6 trillion is certainly a lot of money; the gross domestic products of India and the UK combined come in at just over that amount. Mary Hui, Quartz, 13 Feb. 2024 That day, government figures had been released showing a 3.3% annual increase in the gross domestic product for the fourth quarter of 2023, on top of a 4.9% growth rate for the third quarter. Michael Hiltzik, Los Angeles Times, 9 Feb. 2024 The value of high-growth, disruptive tech companies is equivalent to about 7.3% of the U.S. gross domestic product. Raphaelle D’ornano, Fortune, 7 Feb. 2024 This year, for the first time, Germany will spend 2 percent of its gross domestic product on the military, reaching the goal that all NATO countries agreed to in 2014, after the Russian annexation of Crimea, but that most experts warn is now too low. David E. Sanger, New York Times, 3 Feb. 2024 The International Monetary Fund expects annual growth in China’s gross domestic product to slow to 4.6% this year — from 5.2% in 2023, one of the weakest performances in decades — and to decline further to about 3.5% in 2028. Anna Cooban, CNN, 2 Feb. 2024 Thursday's report from the Commerce Department said the gross domestic product — the economy's total output of goods and services — decelerated from its sizzling 4.9% growth rate the previous quarter. CBS News, 25 Jan. 2024 On Thursday, the Commerce Department is expected to report that the nation’s gross domestic product — the economy’s total output of goods and services — rose at an annual rate of around 2% from October through December. Paul Wiseman, Fortune, 25 Jan. 2024 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'gross domestic product.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1951, in the meaning defined above

Time Traveler
The first known use of gross domestic product was in 1951

Dictionary Entries Near gross domestic product

Cite this Entry

“Gross domestic product.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/gross%20domestic%20product. Accessed 26 Feb. 2024.

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