Definition & Difference Between GDP and GNP
GDP
GDP stands for Gross Domestic Product which is concerned with the region in which income is generated.
- Relationship Between GDP & GNP
- GDP = GNP - Net factor income from abroad
GNP
GNP stands for Gross National Product, the national income accounts give us regular estimates of GNP. The basic measure of the economy's performance in producing goods and services.
- GNP = NNP+Depreciation
- NNP = Net National Product