National Income
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The Gross Domestic Product (GDP) represents the total value of the goods and services produced by an economy over some unit of time (a month, a season, a year etc.). The "Domestic" part of the name comes from the fact, unlike GNP, it does not consider imports or exports in the calculation. The Singapore gross domestic product or GDP is the value of all goods and services produced in Singapore in a calendar year. The gross domestic product includes only final goods and services, not goods and services used to make another product. Changes in the gross domestic product are an indication of economic output. The GDP is a major economic indicator in Singapore. Economic growth is measured in terms of an increase in the size of a country's economy. A broad measure of its output. The most widely used measure of an economic output is the Gross Domestic Product (GDP)...