gross domestic product
noun
Definition of gross domestic product
: the gross national product excluding the value of net income earned abroad
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1951
First Known Use of gross domestic product
1951
GROSS DOMESTIC PRODUCT Defined for English Language Learners
gross domestic product
noun
Definition of gross domestic product for English Language Learners
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: 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
Learn More about gross domestic product
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Britannica.com: Encyclopedia article about gross domestic product
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