National Accounts

Gross Domestic Product (GDP)
The monetary value of all the goods and services produced by an economy over a specified period. GDP serves as a broad measure of overall economic activity and an indicator of an economy's health.
National Income
National Income is a comprehensive measure of the overall economic activity within a country, reflecting the total income earned by the residents of a nation during a specific period, usually a year.
Net Domestic Product (NDP)
Net Domestic Product (NDP) represents the Gross Domestic Product (GDP) of a country minus the depreciation of its capital goods, providing an indication of capital obsolescence and the investment required to sustain current economic output.

Accounting Terms Lexicon

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