Gross domestic product or GDP is a broad monetary
measure of a nation’s overall economic activity. It is a measure of the value of
all final goods and services produced in a period. GDP is also used to measure a
nation’s standard of living. It is the sum of all consumption, consumer
spending, government spending, the country’s investment, business capital
expenditures and total net exports, i.e. difference of the total exports less
total imports.
