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 With an army of 280,000 soldiers and 900,000 reservists, Finland already spends more than 2% of its gross domestic product on defense — the NATO target that the majority of its members fail to meet. Michael Hunt, Los Angeles Times, 24 Apr. 2022 The guidelines state that each should spend 2 percent of their gross domestic product on defense by 2024. Arkansas Online, 23 Apr. 2022 The guidelines state that each should spend 2 percent of their gross domestic product on defense by 2024. Washington Post, 22 Apr. 2022 Zimbabwe loses an average of 3% of its gross domestic product yearly to road crashes, the TSCZ said in 2017. Nimi Princewill And Sarah Diab, CNN, 15 Apr. 2022 Farmland covers 70 percent of the country and agricultural products were Ukraine’s top export, making up nearly 10 percent of its gross domestic product. New York Times, 10 Apr. 2022 The commodities are a quarter of its gross domestic product. Ken Silverstein, Forbes, 27 Mar. 2022 Europe’s main digital-technology trade group called on NATO leaders to dedicate 1% of their respective gross domestic product to fund emerging and disruptive technologies, in part to guard against potential cyberwarfare. WSJ, 25 Mar. 2022 In a break with the past, Germany will invest more than two percent of its gross domestic product on defense. Bruno Maçães, Time, 1 Mar. 2022 See More

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.

First Known Use of gross domestic product

1951, in the meaning defined above

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Time Traveler for gross domestic product

Time Traveler

The first known use of gross domestic product was in 1951

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Dictionary Entries Near gross domestic product

grossbeak

gross domestic product

grossen

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Statistics for gross domestic product

Last Updated

6 May 2022

Cite this Entry

“Gross domestic product.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/gross%20domestic%20product. Accessed 18 May. 2022.

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More from Merriam-Webster on gross domestic product

Britannica.com: Encyclopedia article about gross domestic product

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