GDP
/ˌdʒiːdiːˈpiː/ noun [U] ECONOMICSDefinition
› abbreviation for Gross Domestic Product: the total value of goods and services produced in a country in a year: If GDP continues to shrink, the country will be in a recession. The government's goal is to reduce the deficit to 5% of GDP this year through a combination of spending cuts and tax increases. → Compare GNP
(Definition of GDP noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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