This material is from here.
Gross Domestic Product (GDP) is a convenient way of measuring and comparing the size of national economies. Annual GDP represents the market value of all goods and services produced within a country in a year. Put differently:
GDP = consumption + investment + government spending + (exports – imports)
Although the economies of countries like China and India are growing at an incredible rate, the US remains the nation with the highest GDP in the world – and by far: US GDP is projected to be $13,22 trillion (or $13.220 billion) in 2007, according to this source. That’s almost as much as the economies of the next four (Japan, Germany, China, UK) combined.
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