GDP vs GNP | Know the Top Differences!

In this video on GDP vs GNP, here we discuss key differences between GDP and GNP along with infographics and comparison table.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐆𝐃𝐏?
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The total market value of the goods and services produced within a country is defined as a Gross Domestic Product (GDP) within a certain time period.

GDP = C + I + G + (X-M)

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐆𝐍𝐏?
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Gross national product (GNP) is an estimation of the overall amount of all finished products and services generated by means of production owned by the residents of the country in a given period.

GNP = GDP + NR - NP

𝐆𝐃𝐏 𝐯𝐬 𝐆𝐍𝐏 𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
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#1 - The location is the basis for measuring the GDP. whereas, GNP is based on citizenship.

#2 - The Gross Domestic Product depends on domestic production calculations. Whereas, GNP considers the production by the individuals, firms, and corporations, of country.

#3 - GDP measures the strength of the domestic economy within a country. Whereas, GNP is analyzed how the residents contribute to the economy of the country.

To know more about the 𝐆𝐃𝐏 𝐯𝐬 𝐆𝐍𝐏, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞:-
https://www.wallstreetmojo.com/gdp-vs...

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