"Is the monetary value of all the finished goods and services produced within a country's borders in a specific time period." (Investopedia.com)

 

​The Gross Domestic Product (GDP) in Colombia expanded 0.30 percent in the third quarter of 2016 over the previous quarter. GDP Growth Rate in Colombia averaged 1.03 percent from 2001 until 2016, reaching an all time high of 3.40 percent in the second quarter of 2002 and a record low of -0.90 percent in the first quarter of 2002.

As it was said before, this information helps companies to figure out what is the actual value of an specific product  or service. We as a company that sells organic finished products need to take into account how clients buy and in which periods of time the demand is higher and when is lower.

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Sources: 

http://www.investopedia.com/terms/n/nominalgdp.asp

http://www.tradingeconomics.com/colombia/gdp-growth

http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?locations=CO

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