Not exactly. The definition of GDP is: GDP=C+G+I+NX where: C=Consumption G=Government spending I=Investment NX=Net exports The production implied

Not exactly. The definition of GDP is: GDP=C+G+I+NX where: C=Consumption G=Government spending I=Investment NX=Net exports The production implied by C, G, and NX, is merely a lower bound. Excess production isn't capture in the GDP equation.