GDP is a measure of a country's overall economic output. GDP is the aggregate value of all goods and services produced within a year in the country without dividing the resources used for their production into imported and domestic.
Most often two methods for calculating GDP are used: first, by adding total incomes in the economy (wages, interest on capital, profits and rents), secondly, by summing up all the expenses incurred (consumption, investment, government procurement of goods and services and net exports). GDP is the main characteristic of the economic success of countries that measures its economic growth or recovery. Australia's GDP growth is an important indicator for the Australian dollar. The strongest reaction of the currency usually happens for quarterly data of the indicator.