gross domestic product
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gross domestic product
The total value of all goods and services produced within the borders of a country's economy during a specific period, usually one year. It is a central measure of a country's economic performance.
Das Bruttoinlandsprodukt Deutschlands ist im letzten Quartal leicht gewachsen.
Germany's gross domestic product grew slightly in the last quarter.
The word is made up of three parts: 'Brutto' (Italian for 'raw', meaning before deductions), 'Inland' (within a country), and 'Produkt' (product). So it literally describes the total value of all products produced domestically.
Die Berechnung des Bruttoinlandsprodukts ist sehr komplex.
Calculating gross domestic product is very complex.
In the news, in newspapers, and in specialist literature, the abbreviation 'BIP' is almost always used. When you read this abbreviation, it always refers to 'Bruttoinlandsprodukt' (gross domestic product).
Die Regierung hofft auf ein Wachstum des BIP von zwei Prozent.
The government is hoping for GDP growth of two percent.
'Bruttoinlandsprodukt' (gross domestic product) is often combined with verbs that describe a change. Typical are: 'das BIP wächst/steigt' (GDP grows/rises) for a positive development and 'das BIP sinkt/schrumpft' (GDP falls/shrinks) for a negative development.
Wegen der Krise ist das Bruttoinlandsprodukt im letzten Jahr geschrumpft.
Because of the crisis, gross domestic product shrank last year.
economic output
Bruttoinlandsprodukt and Wirtschaftsleistung both refer to the total value of a country's production over a period of time. Bruttoinlandsprodukt is the specific statistical measure, while Wirtschaftsleistung refers more generally to the economic situation and is often expressed using the BIP (GDP). Use BIP for figures and Wirtschaftsleistung for the more general description.
Das Bruttoinlandsprodukt des Landes ist im vergangenen Jahr um zwei Prozent gestiegen.
The country's gross domestic product rose by two percent last year.
Die Wirtschaftsleistung des Landes hat sich trotz der Krise leicht verbessert.
The country's economic output improved slightly despite the crisis.
