State Domestic Product, or SDP, is the total value of goods and services produced during any financial year within the geographical boundaries of a state. Also called the state income, SDP is always calculated or estimated in monetary terms, and is instrumental in the evaluation of per capita income. State here refers to a country subdivision, as in the states of the United States and the states of India. While GDP gives a good estimate of the entire nation's output, SDP provides more detailed economic details about subnational territories.
Famous quotes containing the words state, domestic and/or product:
“The State must follow, and not lead, the character and progress of the citizen.”
—Ralph Waldo Emerson (1803–1882)
“This book was written in good faith, reader. It warns you from the outset that in it I have set myself no goal but a domestic and private one.... I am myself the matter of my book.”
—Michel de Montaigne (1533–1592)
“The UN is not just a product of do-gooders. It is harshly real. The day will come when men will see the UN and what it means clearly. Everything will be all right—you know when? When people, just people, stop thinking of the United Nations as a weird Picasso abstraction, and see it as a drawing they made themselves.”
—Dag Hammarskjöld (1905–1961)