Gross domestic product

In economics, gross domestic product (GDP) is how much a place produces in some amount of time. GDP can be calculated by adding up its output inside the borders of that country.

To find the GDP of a country, one adds up all consumer spending (C), all investment (I), all government spending minus taxes (G), and the value of exports minus imports (X – M). This is shown by the equation:

This measure is often used to find out how healthy a country is; a country with a high value of GDP can be called a large economy. The United States has the largest GDP in the world.[1] Germany has the largest in Europe,[2] Nigeria in Africa[3] and China in Asia.[4]

There are different ways to calculate the GDP. Nominal GDP is the total amount of money spent on all new and final goods in an economy, real GDP (adjusting for changes in prices) tries to correct this number for inflation. For example, if the prices rise by 2% (meaning, everything costs 2% more) and the nominal GDP grows by 5%, the real GDP growth is only increased by 3%.

GDP per capita is the total income of a country, divided by the number of inhabitants. It shows how rich people, on average, are.

Gross national product

The GDP measure is different from gross national product (GNP) in that GNP = GDP + net income from assets in other countries ( net income receipts).

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беларуская (тарашкевіца)‎: Сукупны ўнутраны прадукт
davvisámegiella: Bruttoálbmotbuvttadus
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한국어: 국내총생산
Bahasa Indonesia: Produk domestik bruto
къарачай-малкъар: Бютеулюк ич продукт
مازِرونی: جی‌دی‌پی
日本語: 国内総生産
Nordfriisk: BIP
norsk nynorsk: Bruttonasjonalprodukt
oʻzbekcha/ўзбекча: Yalpi ichki mahsulot
Plattdüütsch: Bruttobinnenlandprodukt
srpskohrvatski / српскохрватски: Bruto domaći proizvod
татарча/tatarça: Тулаем эчке продукт
удмурт: ВВП
ئۇيغۇرچە / Uyghurche: مىللى دارامەت
vèneto: PIL