Gross Domestic Product (GDP)

Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services.

Often used as the primary indicator of macroeconomics, absolute GDP represents the economy’s size at a point in time. GDP is usually calculated and released by the government on a quarterly or annual basis.