Gross National Product
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THE ECONOMIC MEASURE of countries is determined by accounting. Industrialized nations tend to use Gross Domestic Product (GDP) as their chief economic indicator to allow for easier comparison with other countries standardized accounting systems. The GDP measures the value of all within-the-country products and services, including production by foreign companies/individuals and excludes overseas income and investments. In comparison, the Gross National Product (GNP) is the total dollar value of all final products and services produced for consumption during a particular time period, including the country's global personal, industrial, and government spending and investments, with allowances factored in for depreciation and indirect business (sales and property) taxes. The GNP includes income from overseas sources that would be figured in the GDP of another country.
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