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Economics
Gross Domestic Product
The total monetary value of all goods and services produced within a country's borders in a specific period.
GDP is the most widely used measure of economic activity. It can be calculated by adding up all spending, all income, or all production in the economy. Governments and central banks watch GDP growth closely to decide on policy.
It's the economy's annual report card — how much stuff the whole country made this year.
Real world: The UK GDP is roughly £2.2 trillion. If it grows by 2% in a year, the economy produced £44 billion more goods and services than the previous year.
💡 GDP is the world's most important economic scoreboard.