The US Central Intelligence Agency (CIA) reports that in 2001 San Marino's gross domestic product (GDP) was estimated at $940 million. The per capita GDP was estimated at $34,600. The annual growth rate of GDP was estimated at 7.5%. The average inflation rate in 2001 was 3.3%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange.