Monday, November 21, 2016

What is GDP?



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What is GDP?

Imagine £1.8 trillion in bundles of £50 notes, double stacked on pallets – it would cover an area almost four times the size of a football pitch.

This mind-bogglingly large amount of money is the current estimated value of the UK's Gross Domestic Product (GDP).

GDP is the standard measure of the size and health of a country's economy. It's the way we measure and compare how well or badly countries are doing.

In other words, the value, profits and consumption of every item, product, or service brought to market by workers, companies, or other economic resources located inside a country in a period of time is part of the GDP.

Find out more in our GDP explainer

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