Faced with slowing economic growth and a quickly aging population, Singapore has aimed to pivot towards developing an innovation ecosystem and boosting productivity.
But part of that drive has included changing the measuring sticks for success.
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Faced with slowing economic growth and a quickly aging population, Singapore has aimed to pivot towards developing an innovation ecosystem and boosting productivity.
But part of that drive has included changing the measuring sticks for success.
Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. Though GDP is usually calculated on an annual basis, it can be calculated on a quarterly basis as well. GDP includes all private and public consumption, government outlays, investments and exports minus imports that occur within a defined territory. Put simply, GDP is a broad measurement of a nation’s overall economic activity.