gross domestic product

noun

Definition of gross domestic product

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

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

  • : 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


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