Gross Domestic Product (GDP)

Gross Domestic Product (GDP) is the total value of all goods and services produced in a country over a specific time period, usually a year. It measures a nation’s economic performance and growth. A rising GDP indicates a growing economy, while a falling GDP can signify economic decline. GDP can be calculated using three approaches: production (total output), income (total earnings), and expenditure (total spending). It serves as an important indicator for policymakers, economists, and investors to assess the health of an economy and guide economic decisions.