Difference between gdp nd gnp
gnp is gdp+net income from abroad
gdp is total market value of all goods and services produced in the territory of country in a yr
GDP - Gross domestic product is the money value of all goods and services produced in the domestic territory of a country during a year.
GNP - Gross National Product refers to the money value of total output or production of final goods and services produced by the nationals of a country during a given period of time, generally a year. The term 'final goods ' means those finished goods bought for final consumption and not for resale later.
GNP is related to the citizens of a country and their nationality. It includes money value of all the goods and services produced by all citizens of a country during a year irrespective of whether they reside inside the country or outside.
GNP = GDP + Net Income from abroad.
i.e. GNP = GDP +( X -M)
X - Income earned and received by nationals within the boundaries of foreign countries.
M - Income received by Foreign nationals.
( source: Engineering Humanities Text)