gross domestic product
24
3.5
- noun
- /ɡroʊs dɪˈmɛstɪk ˈprɒdʌkt/
- Specialized
:
producto interior bruto
- Very soon China's gross domestic product will exceed that of the United States.
- gross domestic product (GDP)
- percent of gross domestic product
- gross domestic product growth
Very soon China's gross domestic product will exceed that of the United States.
- Very soon China's gross domestic product will exceed that of the United States.
- And the second thing is annual GDP or gross domestic product.
- Well, it has to do with the second catalyst and that has to do with global GDP, gross domestic product growth.
Examples
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Tourism annually contributes $15 billion to Egypt's gross domestic product of some $216 billion.
Academic text (2011) -
Between 1992 and 1993, gross domestic product fell by 16.4 percent.
Academic text (1998) -
For the third quarter of this year, gross domestic product rose 1% compared with the second quarter.
Blog text (2) -
Greek defense spending still accounts for 2.1 percent of gross domestic product, according to NATO.
Blog text (19) -
The U.S. copyright industries today account for 6 percent of the gross domestic product, and the percentage is growing.
Academic text (1997) -
Today, wages and benefits make up the lowest share of America's gross domestic product since World War II.
Blog text (1) -
In 2004, the deficit was $413 billion, or 3.5% of gross domestic product.
Blog text (7) -
The living standard or per capita real gross domestic product (GDP) is simply real GDP divided by the population.
Academic text (2012) -
The ratio of M2 to gross domestic product rose from 7.1 percent to 30 percent between 1988 and 1994.
Academic text (1998) -
The United States is still the largest global economy, with a gross domestic product of roughly $14 trillion.
Synonyms
336
3.9
Total value of all goods and services made in a country in a year
Surface Forms
Morphology
The term is directly compositional: 'gross' (total before deductions) + 'domestic' (within the country) + 'product' (output/goods and services) combine to indicate the total value of a country's output. Although technical, the construction is transparent and cross-linguistically common (many languages use the same literal components), so a B1 learner who knows the constituent words would grasp the basic meaning.
Etymology
The term gross domestic product comes from the idea of counting everything a country makes: gross means the full total, domestic means inside the country, and product means the goods and services it produces. That's why gross domestic product means 'the total money value of what a country produces'.