GDP stands for Gross Domestic Product or Gross Domestic Product.
GDP is considered from different angles:
- From the perspective of use (spending): GDP is the total demand of the economy including final consumption of households, final consumption of the State, asset accumulation and the difference between import and export of goods. and service.
- From the perspective of income: GDP includes workers’ income from production, production taxes, depreciation of fixed assets used for production and the value of production surplus during the period.
- From a production perspective: GDP is equal to production value minus intermediate costs.