Gross domestic product (GDP)

The gross domestic product is the total value of all finished products sold in a country during a year. GDP can be calculated from three sides.

From the production side via a summation of value added in each production stage, from the revenue side through a summary of revenue and from usage side via a summation of the value of products for final use. The gross domestic product may be expressed in fixed prices or at current prices.

If you want to measure a country's growth, it is preferable to calculate the gross domestic product at constant prices. The gross domestic product at constant prices do not include inflation and the gross domestic product at current prices include inflation.