What is the difference between GDP and GNP?
In: 15
GDP is gross domestic product and GNP is gross national product. GDP is all the goods and services produced within the boundaries of a nation no matter who does the work. GNP is all goods and services produced by people from a nation no matter where the actual production happens.
The top graphic here is probably a better ELI5 than I just did off the top of my head. https://www.thebalance.com/what-is-the-gross-national-product-3305847
Latest Answers