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What do we mean by GDP ?

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Question ajoutée par Samer Khatib , Economics Moderator , Bayt.com
Date de publication: 2016/08/28
Manzoor Alam
par Manzoor Alam , Director , 7th Sky Travel & Tourism Services (Pvt.) Limited

As far as term is concern it is "Gross Domestic Product". If we talk simply then we can say its a contribution from an individual in the national economy through sevices or producing goods.

mahmoud hossam
par mahmoud hossam , Web and Social Media Consultant , United Nations Population Fund (UNFPA)

The GDP or the Gross Domestic Prodcution is simply everything that a country's economy produces (goods, services, etc.) in a given year, and it's regarded as the best way to measure the economy.

It's "an economy's all", as IMF's Tim Callen puts it, adding that, "It counts all of the output generated within the borders of a country. GDP is composed of goods and services produced for sale in the market and also includes some nonmarket production, such as defense or education services provided by the government".

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