The total value of the production of goods and services in a nation over one year. Components for a finished product are not taken into account; only the finished articles (but the definition of ‘finished product’ varies). GDP is an imperfect measurement of a nation’s economy because certain forms of production, especially subsistence production, are not recorded.

GDP per capita in the most globalized developing countries grew 4.2% annually between 1990 and 2001, 1.9% in the rich countries, and only 0.9% in the least globalized developing countries (D. Dollar and A. Kraay 2001).