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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Gross Domestic Product (GDP)  

Definition 1.

The total value of goods and services produced by a nation within that nation.
 

Definition 2.

The market value of goods and services produced over time including the income of foreign corporations and foreign residents working in the U.S., but excluding the income of U.S. residents and corporations overseas.
 

Definition 3.

The market value of all goods and services produced within a country in a given period of time, and one of the most important measures of a nation's economic health. GDP is composed of four basic elements: consumption (spending by households on goods and services), investment (spending on capital equipment, inventories and structures, including new housing), government purchases (local, state and federal) and net exports (exports minus imports). GDP is reported each quarter by the U.S. Department of Commerce. GDP is a more widely used measure than gross national product (GNP), which adds goods and services produced by U.S. permanent residents on foreign soil.
 
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