GDP stands for gross domestic product, or the total value of the goods and services produced in a country over a specified period. It is used as an indicator of the size and health of a country’s economy.
A country’s GDP takes into account all of the private and public spending and output. It includes government spending, business and consumer consumption, investments and net exports (calculated as total exports minus total imports). GDP is typically calculated yearly, but can be for any time period.
GDP is usually reported on a quarterly basis, and can have a major impact on financial markets.