What does "economic output" mean?

The value of goods and services produced in a country, region or other entity.

Economic output

noun

noun ·Rare ·Advanced level

Noun

1
The value of goods and services produced in a country, region or other entity. countable, uncountable
"The economic output of all countries in the EU has increased considerably during the last three decades."

"The economic output of all countries in the EU has increased considerably during the last three decades."