GDP

GDP means Gross Domestic Product.

GDP is a measure of the value of all the goods and services that a country produces.

When GDP grows, it is considered that the economy is working properly. Employment grows and there are more goods and services available.

If a country has a larger GDP than another country, it is considered that the economy of the country with the larger GPD is “bigger”. Small countries, like Japan and South Korea, can have a large GDP. On the contrary, big countries, like Kazajstán, can have a small GDP.

The top 10 countries by GDP (by purchasing power parity) are:

1. China
2. United States
3. India
4. Japan
5. Germany
6. Russia
7. Brazil
8. Indonesia
9. United Kingdom
10. France

GPD is the monetary value of all the goods and services produced within the borders of a country during a specific time period.