Gross domestic product

[ { "value": "Gross Domestic Product (GDP) is a comprehensive metric utilized to gauge the economic performance of a country. By encapsulating the total value of all goods and services produced within a nation's borders over a specific period, GDP serves as a critical indicator of national economic health. It is commonly calculated on an annual or quarterly basis and is expressed in monetary terms. GDP can be measured using three distinct approaches: production, income, and expenditure. These measurements offer invaluable insights for policymakers, economists, and investors to formulate economic strategies, assess economic growth, and compare the economic prowess of different countries. In essence, GDP is a cornerstone for understanding the scale and vigor of a nation’s economy, helping drive informed decisions at both governmental and business levels. } ]