gross domestic product

noun

Definition of gross domestic product

: 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 Federal funding for federal and local police has dropped consistently over the past 15 years, from 1.2% of gross domestic product to 0.8% today. Whitney Eulich, The Christian Science Monitor, "A woman’s death in Mexico fueled outrage. Can it fuel police reform?," 8 Apr. 2021 Trump's 2017 tax cuts halved corporate tax revenues to 1% of gross domestic product, which is a measure of the total income in the economy. Josh Boak, Star Tribune, "Biden open to compromise on infrastructure, but not inaction," 7 Apr. 2021 Trump’s 2017 tax cuts halved corporate tax revenues to 1% of gross domestic product, which is a measure of the total income in the economy. Josh Boak, chicagotribune.com, "Biden officials push for higher business taxes, see room for compromise," 7 Apr. 2021 Trump's 2017 tax cuts halved corporate tax revenues to 1% of gross domestic product, which is a measure of the total income in the economy. Arkansas Online, "Biden open to compromise on infrastructure, but not inaction," 7 Apr. 2021 Trump's 2017 tax cuts halved corporate tax revenues to 1% of gross domestic product, which is a measure of the total income in the economy. Josh Boak, ajc, "Biden open to compromise on infrastructure, but not inaction," 7 Apr. 2021 Trump’s 2017 tax cuts halved corporate tax revenues to 1% of gross domestic product, which is a measure of the total income in the economy. Josh Boak, Anchorage Daily News, "Biden says he’s open to compromise on infrastructure plan but not inaction," 7 Apr. 2021 Trump's 2017 tax cuts halved corporate tax revenues to 1% of gross domestic product, which is a measure of the total income in the economy. BostonGlobe.com, "Biden administration makes its pitch for higher business taxes," 7 Apr. 2021 Economists at Goldman Sachs expect the broadest measure of the trade balance, the current account deficit, to peak late this year at 4.4 percent of gross domestic product. Washington Post, "With stimulus cash and jobs spike, U.S. emerges as main engine for global economic recovery," 4 Apr. 2021

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'gross domestic product.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of gross domestic product

1951, in the meaning defined above

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Time Traveler for gross domestic product

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The first known use of gross domestic product was in 1951

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Statistics for gross domestic product

Last Updated

12 Apr 2021

Cite this Entry

“Gross domestic product.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/gross%20domestic%20product. Accessed 19 Apr. 2021.

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More Definitions for gross domestic product

gross domestic product

noun

English Language Learners Definition of gross domestic product

: the total value of the goods and services produced by the people of a nation during a year not including the value of income earned in foreign countries

More from Merriam-Webster on gross domestic product

Britannica.com: Encyclopedia article about gross domestic product

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