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Gross domestic product (GDP) is the
monetary value of all the finished goods and services produced by a country in
a given time period (usually one year). It expresses the “value added” by the
country’s entire production system, that is, the value of items produced minus
the costs of the materials used to produce them. An estimated 90 percent of goods produced are transported by sea, as indicated by the container ship shown in the background photograph taken at the Port of Los Angeles, California, by Lance Cunningham (Flickr Creative Commons licence).
GDP data are used as a component in the calculation of Status for the Economies subgoals of the coastal Livelihoods & Economies goal. For each country, the performance of marine sectors of the economy relative to the economy as a whole is measured with reference to performance of the national GDP.
How Was It Measured?
The most recent GDP data available for each country (reported in US dollars for that year) are accessed from the World Bank (data.worldbank.org/indicator/NY.GDP.MKTP.CD). Hong Kong and Macau are Special Administrative Regions of the People's Republic of China, so their GDP values are combined with that of China using a population-weighted average.
The target for the Economies subgoal is that revenue to the marine sectors evaluated should keep pace with national growth in GDP or sustain losses no greater than comparable national declines in GDP. The current and reference years used for GDP data are based on the average current year and average reference year across the sector data sources used for revenue.