GDP stands for Gross Domestic Product. GDP is a common measure that’s used to roughly represent the size of a country’s economy. Gross Domestic Product, or GDP, is the measure of how many finished goods and services were produced in a country over the course of a year. Tt only measures finished products, this means that goods that are produced to be added to a different product later are not counted. An example of this is raw steel that is later used to build a car is not counted as part of GDP, but the car itself is. This is the biggest estimator of how the economy as a whole is doing.