The full form of GNP is Gross national product. an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country’s residents.
Gross national product (GNP) is a broad measure of a nation’s total economic activity. GNP is the value of all finished goods and services produced in a country in one year by its nationals.
How do you calculate GNP?
GNP quantifies the size of a country’s economy factoring in both what is produced within its borders and what is generated by its citizens abroad. GNP is typically calculated as: GNP = GDP + Net income inflow from abroad – Net income outflow to foreign countries.
What is difference between GDP and GNP?
The main difference is that GNP (Gross National Product) takes into account net income receipts from abroad. GDP (Gross Domestic Product) is a measure of (national income = national output = national expenditure) produced in a particular country. GNP = GDP + net property income from abroad.