Gross Domestic Product (GDP)

Gross Domestic Product (GDP) is a measure of a country's economic output that includes all goods and services produced within a given period of time, usually one year. GDP is typically used as a proxy for a country's general standard of living. It is calculated by by taking into account the value of all goods and services produced within a country in a given period of time, including consumer spending, investments, public spending, and net exports. GDP is generally expressed as a percentage annual growth rate or as a figure in US dollars.