GDP

GDP is the acronym for Gross Domestic Product also known as gross domestic product (GDP). GDP is defined as the aggregate of all final goods and services produced in a country during a year.

GDP measures the monetary value of a country's output of final goods and services during a year. GDP is commonly used as a measure of the degree of well-being of a country's population. Another way to understand what GDP is is to look at its formula:

Where:

C = Consumption

I = Investment

Ge = Government Expenditure

X = Exports

M = Imports

There are different concepts related to GDP that are useful to know:

• GDP per capita, is the result of dividing GDP by the number of inhabitants. It is a good indicator of the standard of living of the inhabitants of a country or region, since it represents the value of the goods and services produced by each of them.

GDP per capita= GDP / no. of inhabitants

• Gross domestic product growth rate is the change in GDP (Gross Domestic Product) over a given period of time. If the rate of change of GDP is positive, it means that the country's economy is growing.

Economic growth rate in n (%) = [(GDP pcte. period n - GDP pcte. period (n-1) / GDP pcte. period (n-1) ] x 100

We publish the comparative and evolution of the GDP of a large number of countries in: Ranking of GDP in the world.