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:
“Most of us are about as eager to be changed as we were to be born, and go through our changes in a similar state of shock.”
—James Baldwin (1924–1987)
“The immense majority of human biographies are a gray transit between domestic spasm and oblivion.”
—George Steiner (b. 1929)
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—Erich Fromm (1900–1980)