national productn.
/ˌnaʃn̩(ə)l ˈprɒdʌkt/, /ˌnaʃən(ə)l ˈprɒdʌkt/, U.S. /ˌnæʃən(ə)l ˈprɑdək(t)/, /ˌnæʃn(ə)l ˈprɑdək(t)/ The monetary value of all goods and services produced in a country in a given period (usually one year).Usually understood as equivalent to gross national product (gross national product at gross adj. 6c), i.e. calculated without allowance for depreciation and capital consumption; cf. net national product n. at net adj. Compounds.
ΘΚΠ
society > trade and finance > management of money > income, revenue, or profit > [noun] > income of a nation or state > value of all national goods or services
product1793
national product1884
1884 Science 19 Sept. 285/2 To ascertain what burden a national debt is, we should consider, not population, not accumulated wealth even, but the annual national product.
1921 Q. Publ. Amer. Statist. Assoc. 17 562 The national product can be measured only as and where it serves individuals, i.e. at the point where individual consumption occurs or final title is taken.
1964 J. Gould & W. L. Kolb Dict. Social Sci. 454/1 If a series of national product estimates for several years is divided by a price index, each year's national product being divided by the price index for that year, the resulting series is known as deflated or real national product.
1991 Oxf. Econ. Papers 43 225 The national product should be measured without deduction for depreciation.
This entry has been updated (OED Third Edition, June 2003; most recently modified version published online March 2022).
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n.1884