What is another word for gross domestic product?

Pronunciation: [ɡɹˈə͡ʊs dəmˈɛstɪk pɹˈɒdʌkt] (IPA)

Gross domestic product (GDP) is a widely used economic indicator to measure the value of goods and services produced within a country in a particular time frame. However, in different contexts, different synonyms are used to describe the same concept. For example, in the USA, GDP is often referred to as gross national product (GNP), which includes the value of goods and services produced by citizens and companies of the country, both domestically and abroad. Another commonly used synonym is gross output (GO), which includes the total value of goods and services produced, including intermediate goods and services. Lastly, gross value added (GVA) focuses on the value that each economic sector adds to the final product, making it more specific than GDP.

Synonyms for Gross domestic product:

What are the hypernyms for Gross domestic product?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.
  • Other hypernyms:

    market value, economic output, economic production, NATIONAL WEALTH.

Famous quotes with Gross domestic product

  • And it was back in the mid-1980s, and as I point out in a piece, that was when we are spending about eight percent of our gross domestic product on health care. And even then, we had the impression that so much of the excessive, aggressive medical treatment that took place at the end of life was not only unnecessary but it was cruel.
    Richard Dooling
  • The price of imported oil in the US doubled between summer 2003 and summer 2005, reducing consumers' purchasing power by more than 1 per cent of gross domestic product.
    Martin Feldstein

Word of the Day

inconstructible
The word "inconstructible" suggests that something is impossible to construct or build. Its antonyms, therefore, would be words that imply the opposite. For example, "constructible...