Term of the Day gross national product (GNP)

Term of the Day

gross national product (GNP)

GDP of a country to which income from abroad remittances of nationals living outside and income from foreign subsidiaries of local firms has been added.

For further explanation, see GDP vs. GNP — What’s the Difference?

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Usage Example
Unlike GDP which defines production based off of geographical location, a country’s gross national product includes the market value of all goods and services produced by all of the country’s citizens, regardless of geographical location.