Economics Part B

Table of Contents

Gross National Product

GNP definition – Gross National Product

Definition of GNP or Gross National Product

GNP is the total of all the products produced in the country in a given period, usually one year (less the element of imported components included in the products).

What is the Importance of GNP?

As the definition implies that it measures total products in a country, Gross National Product became one of the main and most common measures of the state of the economy. It is calculated and published by the Central Bureau of Statistics on a quarterly basis.