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(economics) Initialism of gross domestic product. / (biochemistry) Initialism of guanosine diphosphate, a nucleotide.

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GDP

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GDP

/ˌd͡ʒiːdiːˈpiː/

noun

(economics) Initialism of gross domestic product. / (biochemistry) Initialism of guanosine diphosphate, a nucleotide.

The GDP of the country has been steadily increasing over the past decade.

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(economics) Initialism of gross domestic product.

Economics is a messy discipline: too fluid to be a science, too rigorous to be an art. Perhaps it is fitting that economists’ most-used metric, gross domestic product (GDP), is a tangle too. GDP measures the total value of output in an economic territory. Its apparent simplicity explains why it is scrutinised down to tenths of a percentage point every month.

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