In previous two articles we have well understood what is Gross Domestic Product or GDP? We also understood the difference between Current Dollar GDP and Constant Dollar GDP. Now let us understand the difference between GDP or Gross Domestic Product and GNP or Gross National Product.
One important point to note is that Gross Domestic Product, GDP is entirely different from Gross National Product, GNP. GDP takes into account only goods and services manufactured or produced within a country irrespective of the individual producer’s nationality. For example any African living in the United States contributing towards some product manufacturing will be contributed in GDP.
Difference Between GDP and GNP | Bizcovering
Right from my 10th standard(more than a decade above)I have trying to understand GDP and GNP.Thank you for the post..
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