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Gross Domestic Product - GDP (Produit Intérieur brut - PIB)

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Term Definition
Gross Domestic Product - GDP (Produit Intérieur brut - PIB)
Gross Domestic Product (prior to 1986 Gross National Product) refers to the money value of all goods and services produced in a nation during a stated period of time, usually a year. Despite its limitations GDP is the best overall measure of economic performance; it is often used to calculate changes in the welfare of a country's residents.
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