metrics explained

Gross Domestic Product vs Gross National Product: What's the Difference?

Gross domestic product (GDP) is the total value of all final goods and services produced within a country in a given year. Gross national product (GNP) is the total value of all final goods and services produced by a country's citizens in a given year, regardless of where they are located. GNP includes both the production of goods and services within the country's borders and the production of goods and services by its citizens abroad. GDP is the more commonly used statistic, but GNP is also a useful measure of a country's economic activity.

Gross Domestic Product

GDP is the total value of all final goods and services produced within a country in a given year. This includes the production of goods and services by both the country's citizens and its foreign residents. GDP is usually measured on a quarterly or annual basis. It is one of the most closely watched economic indicators, as it provides a good overview of a country's economic health.

Gross National Product

GNP is the total value of all final goods and services produced by a country's citizens in a given year, regardless of where they are located. This includes the production of goods and services within the country's borders and the production of goods and services by its citizens abroad. GNP is usually measured on a quarterly or annual basis. It is not as closely watched as GDP, but it is still a useful measure of a country's economic activity.

Differences Between GDP and GNP

The main difference between GDP and GNP is that GDP includes the production of goods and services by both the country's citizens and its foreign residents, while GNP only includes the production of goods and services by the country's citizens. GDP is usually the more closely watched statistic, as it provides a good overview of a country's economic health. However, GNP is also a useful measure of a country's economic activity.

Gross Domestic Product

GDP is the total value of all final goods and services produced within a country in a given year. This includes the production of goods and services by both the country's citizens and its foreign residents. GDP is usually measured on a quarterly or annual basis. It is one of the most closely watched economic indicators, as it provides a good overview of a country's economic health.

Gross National Product

GNP is the total value of all final goods and services produced by a country's citizens in a given year, regardless of where they are located. This includes the production of goods and services within the country's borders and the production of goods and services by its citizens abroad. GNP is usually measured on a quarterly or annual basis. It is not as closely watched as GDP, but it is still a useful measure of a country's economic activity.

Differences Between GDP and GNP

The main difference between GDP and GNP is that GDP includes the production of goods and services by both the country's citizens and its foreign residents, while GNP only includes the production of goods and services by the country's citizens. GDP is usually the more closely watched statistic, as it provides a good overview of a country's economic health. However, GNP is also a useful measure of a country's economic activity.

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