Net Domestic Product [NDP] Law and Legal Definition
Net Domestic product is the annual measure of the economic output of a nation that is adjusted to account for depreciation, calculated by subtracting depreciation from the gross domestic product (GDP). Net domestic product accounts for capital that has been consumed over the year in the form of housing, vehicle, or machinery deterioration. The NDP calculation allows users of the country's national accounts to estimate how much the country has to spend just to maintain their current GDP.
