In an effort to continuously improve the way we measure the performance of economy, alternative indices are being developed that take into account other aspects of people’s lives in addition to economic ones. In addition to measuring economic performance, we should also consider other factors that affect the overall performance of a country. The research focuses on the examination of socio-economic index with respect to the development of gross domestic product of selected countries. The main objective of the research is to identify the factors that influence the gross domestic product and the selected environmental and socio-economic. Selected socio-economic that take sustainable development into account are presented and a research gap is formulated. Subsequently, the reaserch states the objectives, and research questions and defines the object of investigation. To meet the objectives, correlation analysis, regression models, and dominance analysis were used and applied to the input data for 2012 and 2020. The result of the empirical part is that there is a statistically significant correlation between the selected socio-economic index and gross domestic product. Given our findings, we can conclude that the measurement of gross domestic product also takes environmental aspects into account. Observed European countries that scored high on environmental indicators generally also had higher values of gross domestic product. Even though the gross domestic product method appears at first sight to be purely economic, it also takes environmental aspects into account and we consider it to be appropriate for measuring the performance of an economy. The contribution of this research lies in enriching the current studies dealing with gross domestic product and socio-economic indexes with further insights into their interconnectedness. The results of the research provide useful information for practical use by economists and policymakers whose task is to promote the economic growth of a country.