Gross National Product (GNP)
Gross National Product (GNP) is a measure of the total economic output of a country. It is calculated by adding up the total value of all goods and services produced by the citizens of a country, regardless of where they are located. GNP is used to measure the economic performance of a country over time and to compare the economic performance of different countries. It is also used to measure the size of a country’s economy relative to other countries.
History of GNP
The concept of GNP was first developed in the late 19th century by the British economist William Stanley Jevons. He proposed that the total economic output of a country should be measured by adding up the value of all goods and services produced by its citizens, regardless of where they are located. This idea was later adopted by the United States and other countries, and is now used as a standard measure of economic performance.
In the early 20th century, the concept of GNP was further developed by the American economist Simon Kuznets. He proposed that GNP should be measured by adding up the value of all goods and services produced by a country’s citizens, regardless of where they are located, and subtracting the value of all goods and services produced by foreign citizens in the same country. This idea was later adopted by the United Nations and is now used as a standard measure of economic performance.
Comparison of GNP
| Country | GNP (in billions of US dollars) |
|---|---|
| United States | 20,584 |
| China | 13,608 |
| Japan | 5,959 |
| Germany | 3,857 |
| United Kingdom | 2,845 |
Summary
Gross National Product (GNP) is a measure of the total economic output of a country. It is calculated by adding up the total value of all goods and services produced by the citizens of a country, regardless of where they are located. GNP is used to measure the economic performance of a country over time and to compare the economic performance of different countries. For more information about GNP, visit the websites of the United Nations, the World Bank, and the International Monetary Fund.
See Also
- Gross Domestic Product (GDP)
- Net National Product (NNP)
- National Income
- Personal Income
- Disposable Income
- Gross National Income (GNI)
- Gross Domestic Income (GDI)
- Net Domestic Product (NDP)
- Net National Income (NNI)
- Net Domestic Income (NDI)
