Gross domestic product (GDP)

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Gross domestic product (GDP) at market prices is the expenditure on final goods and services minus imports: final consumption expenditures, gross capital formation, and exports less imports. "Gross" signifies that no deduction has been made for the depreciation of machinery, buildings and other capital products used in production. "Domestic" means that it is production by the resident institutional units of the country. The products refer to final goods and services, that is, those that are purchased, imputed or otherwise, as: final consumption of households, non-profit institutions serving households and government; fixed assets; and exports (minus imports). GDP per capita data are measured in US dollars at current prices and PPPs. GDP data are measured in million US dollars at current prices and PPPs. Data are internationally comparable across countries for any single year. Data follow the 2008 System of National Accounts for all countries.

Gross domestic product (GDP)

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Definition of
Gross domestic product (GDP)

Gross domestic product (GDP) at market prices is the expenditure on final goods and services minus imports: final consumption expenditures, gross capital formation, and exports less imports. "Gross" signifies that no deduction has been made for the depreciation of machinery, buildings and other capital products used in production. "Domestic" means that it is production by the resident institutional units of the country. The products refer to final goods and services, that is, those that are purchased, imputed or otherwise, as: final consumption of households, non-profit institutions serving households and government; fixed assets; and exports (minus imports). GDP per capita data are measured in US dollars at current prices and PPPs. GDP data are measured in million US dollars at current prices and PPPs. Data are internationally comparable across countries for any single year. Data follow the 2008 System of National Accounts for all countries.

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