GDP
noun [ U ]
ECONOMICS uk/ˌdʒiːdiːˈpiː/ usabbreviation 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