The total value of goods and services produced by the nationals of a country during a period, usually a year, deducting what was consumed in production, i.e., consolidated. It includes consumption, investment, changes in stocks, and the value of exports minus imports. It can be measured at constant prices, market prices, or cost factor. The basic criterion is nationality, so unlike Gross Domestic Product (GDP), income received by nationals outside the country is included and what is produced by foreigners within the country is deducted.
« Back to Glossary IndexGNP (Gross National Product)
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