Gross Domestic Product (GDP) is a measure of the total value of goods and services produced within a country during a specific period of time. In simple terms, it represents the size of the economy, indicating how well the country is doing economically. Factors affecting GDP calculation include:

• Consumer Spending: The amount of money spent by households on goods and services
• Investment: The amount of money invested by businesses, individuals, and the government into the economy
• Government Spending: The amount of money spent by the government on public goods and services
• Net Exports: The difference between exports (goods and services sold to other countries) and imports (goods and services purchased from other countries).

To calculate GDP, the value of all goods and services produced within a country during a specific period of time is added up. To ensure accuracy, only final goods and services are included, as intermediate goods and services are accounted for in the final product's value. GDP can be calculated using any of three methods: The expenditure approach, the output approach, or the income approach. However, all three approaches provide the same result.