Definition, Meaning & Synonyms
domestic production
Noun
/dəˈmɛstɪk prəˈdʌkʃən/
Definition
The process of creating goods and services within a country, rather than importing them from abroad.
Examples
- The increase in domestic production has helped boost the national economy.
- Many businesses are focusing on domestic production to meet local demands.
- During the pandemic, domestic production became crucial for maintaining supply chains.
Meaning
Domestic production refers to the manufacturing and assembly of products in the home country, supporting local economies and job markets.
Synonyms
- Home production
- Local production
- In-country manufacturing
