Total value of goods and services produced by a country’s nationals during a period, usually a year, deducting what is consumed in production, i.e., consolidated. It includes consumption, investment, changes in inventories, and the value of exports minus imports. It can be measured at constant prices, market prices, or factor costs. The basic criterion is nationality, so unlike Gross Domestic Product (GDP), it includes incomes received by nationals outside the country and deducts what is produced by foreigners within the country.
« Back to Glossary IndexGross National Product (GNP)
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