Gross Domestic Product (GDP)

The market price value of all final goods and services produced within a country during a given period. The GDP includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.

GDP = C + G + I + NX


"C" is equal to all private consumption, or consumer spending, in a nation's economy
"G" is the sum of government spending
"I" is the sum of all the country's businesses spending on capital
"NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports - Imports)

In 2011 the GDP of the U.S. was U.S. $15,094,025,000,000, while the GDP of Togo was U.S. $3,611,000,000.