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What is Gross Domestic Product (GDP)?

Crypto Terms Glossary: What is Gross Domestic Product (GDP)?

Gross domestic product (GDP) is the total market value of all finished goods and services produced within a country during a specific time period. GDP is one of the most widely accepted metrics for measuring the overall economic strength of a country, and is used to broadly measure a country's annual growth rate, domestic production, and overall total economic value. Gross domestic product is generally calculated in three ways (using production, incomes, or expenditures) and can be adjusted for inflation and other population metrics to provide more tailored data insights. Though GDP has its limitations, it has historically served as a key tool to help guide policymakers, businesses, and investors towards more informed and more strategic decision-making.

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