What is GDP?
GDP serves as a gauge of our economy’s overall size and health. When compared with prior periods, GDP tells us whether the economy is expanding by producing more goods and services, or contracting due to less output. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well. When real GDP is growing strongly, employment is likely to be increasing as companies hire more workers for their factories and people have more money in their pockets. When GDP is shrinking, as it did in many countries during the recent global economic crisis, employment often declines.
How to Calculate Gross Domestic Product?
Gross Domestic Product calculator uses Gross Domestic Product = Private Consumption+Gross Investment+Government Consumption+Net Exports of Goods and Services to calculate the Gross Domestic Product, Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Gross Domestic Product is denoted by GDP symbol.
How to calculate Gross Domestic Product using this online calculator? To use this online calculator for Gross Domestic Product, enter Private Consumption (PCN), Gross Investment (GI), Government Consumption (G) & Net Exports of Goods and Services (NX) and hit the calculate button. Here is how the Gross Domestic Product calculation can be explained with given input values -> 7.8E+8 = 1215+80000+780000000+30000.