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Gross Domestic Product

Definition of 'Gross Domestic Product'

A measure of the total flow of goods and services produced by an economy over a specified time period, normally a year.

In other words, the total market value of all the goods produced by a specific country over a period of time, usually a year.

When looking at GDP figures, analysts are often looking for a year-on-year rise, to show that the economy of the country is developing.

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