The total value of goods and services produced by the nationals of a country during a period, usually a year, minus what is consumed in production, that is, consolidated. It includes consumption, investment, inventory variation, and the value of exports, minus imports and amortization. It can be measured at constant prices, market prices, or cost of factors. The basic criterion is nationality, so unlike GDP, it includes income earned by nationals outside the country and deducts what is produced by foreigners within the country.
« Back to Glossary IndexGNP (Gross National Product)
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