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Economics: GNI GNP GDP

01-05-2009 11:27AM

#1

pathway33

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What's the difference between

gross national income
gross national product
gross domestic product

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Comments

#2 01-05-2009 12:16PM

Mr Maroon

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Gross domestic product (GDP) is defined as the "value of all goods and services produced in a country in one year".

Gross National Product (GNP) is defined as the "value of all goods and services produced in a country in one year by the nationals, plus income earned by its citizens abroad, minus income earned by foreigners in the country".

GNI= the total value produced within a country (i.e. its gross domestic product) + its income received from other countries (notably interest and dividends), - similar payments made to other countries

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