Gross National Product (GNP) is an economic measure that represents the total market value of all final goods and services produced by the residents of a country within a given period, typically a year, regardless of whether the production occurs domestically or abroad

. It includes the value of goods and services produced by a country's citizens and businesses both inside the country and overseas, but excludes income earned by foreign residents within the country

. GNP is calculated by summing personal consumption expenditures, private domestic investment, government spending, net exports (exports minus imports), and adding income earned by residents from overseas investments while subtracting income earned by foreign residents domestically

. This distinguishes GNP from Gross Domestic Product (GDP), which measures the value of goods and services produced strictly within a country's borders regardless of ownership

. In essence, GNP reflects the economic output attributable to the ownership by a country's residents, providing insight into the total income generated by its citizens and businesses worldwide. It is often used as an indicator of a nation's economic performance and standard of living

. The term Gross National Income (GNI) is closely related and has gradually replaced GNP in some contexts, though both concepts are similar in measuring income based on ownership rather than location

. Summary:

• GNP = total value of goods and services produced by a country's residents, domestically and abroad.
• Includes income from overseas investments by residents.
• Excludes income earned by foreign residents within the country.
• Differs from GDP, which measures production within geographic borders regardless of ownership.
• Useful for assessing a country's overall economic output and income from global activities