GDP vs GNP By Aneek Gupta

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GDP vs GNP By Aneek Gupta

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GDP vs GNP By Aneek Gupta

  1. 1. GDP vs GNP By Aneek Gupta Consideration GDP GNP Stands for Gross Domestic Product Definition An estimated value of the total worth An estimated value of the total worth of a of production and services, by citizens country’s production and services, within its of a country, on its land or on foreign boundary, by its nationals and foreigners, land, calculated over the course on calculated over the course on one year. one year. Formula for Calculation GNP = GDP + NR (Net income inflow GDP = consumption + investment + (government from assets abroad or Net Income spending) + (exports − imports). Receipts) - NP (Net payment outflow to foreign assets). Uses Application (Context in which these terms are used) Layman Usage Gross National Product Business, Economic Forecasting. Business, Economic Forecasting. To see the strength of a country’s local economy. To see how the nationals of a country are doing economically. Total value of Goods and Services Total value of products & Services produced produced by all nationals of a country (whether within or outside the within the territorial boundary of a country. country). Country with Highest Per Capita (US$) Qatar ($102,943) Luxembourg ($45,360). Country with Lowest Per Capita (US$) Liberia ($16). Mozambique ($80). USA ($13.06 Trillion in 2006). USA (~ $11.5 Trillion in 2005). Country with Highest (Cumulative) Thanks

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