Why is GDP the most important when measuring the economic growth and why are other factors such as GNP etc secondary?

Question

Why is GDP the most important when measuring the economic growth and why are other factors such as GNP etc secondary?

In: 2

Answer 1

GDP is the product produced by anyone within a country regardless of citizenship

GNP is the product produced by any citizen of a country regardless of location.

As much as some countries like to pretend otherwise, a country is defined by the land it controls NOT its “citizens.” It doesnt really matter what nationality someone is, the country they live and work in is the only country that the product matters for, and has ultimate control over its sale, taxation, or export.