gross national product

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Gross National Product (GNP)

Measures an economy's total income. It is equal to G.D.P. plus the income abroad accruing to domestic residents minus income generated in domestic market accruing to non-residents.

Gross National Product

A measure of the value of what a country's citizens produce in a given year, whether or not the production occurred in that country. To calculate GNP, one takes the GDP and adds to it all earnings made by domestic citizens in a different country. One then subtracts from this quantity all earnings made in the home country by non-citizens. GNP is less commonly used now because it has become a less accurate tool for calculating what a domestic economy produces, as more countries have citizens working abroad.

Gross national product (GNP).

The gross national product is a measure of a country's economic output -- the total value of all the goods and services that it produces in a particular year. The GNP is similar to the gross domestic product (GDP), but not exactly the same.

Unlike the GDP, the GNP includes the income generated by investments owned outside the country by its citizens, and excludes any income earned on domestic soil by noncitizens or organizations based elsewhere.

gross national product (GNP)

the total money value of all final goods and services produced in an economy over a one year period (gross domestic product) plus net property income from abroad (net profits, dividends, rent and interest).

Fig. 82 Gross national product for selected countries. Source: World Development Report , World Bank, 2004.

gross national product (GNP)

the total money value of all final goods and services produced in an economy over a one-year period (GROSS DOMESTIC PRODUCT) plus net property income from abroad (interest, rent, dividends and profits). See NATIONAL INCOME ACCOUNTS.

GNP is an important measure of a country's general economic prosperity, while GNP per head (see INCOME PER HEAD) provides a measure of the average monetary STANDARD OF LIVING of the populace. By converting GNP data in several countries into a common currency (such as the US dollar), it is possible to make international comparisons of countries’ general economic well-being, as Fig. 82 shows. See ACTUAL GROSS NATIONAL PRODUCT, ECONOMIC GROWTH, GNP DEFLATOR, REAL VALUES.