gross national product

(redirected from GNP)
Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia.

gross national product

(GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly. In estimating the GNP, only the final value of a product is counted (e.g., automobiles, but not the steel that they contain). The three major components of GNP are consumer purchases, private investment (including overseas investment but excluding foreign investment in a nation's economy), and government spending. The GNP is reported quarterly in the United States and was used as a barometer of the nation's economic health from the 1930s, but in 1991 the government switched to emphasizing the gross domestic product (GDP), which is similar but covers only goods and services produced inside a nation's borders. The GDP, which also is reported quarterly, is regarded as a better indicator of the performance of a country's economy and is used as such by most industrialized nations. The U.S. government continues to report the GNP, but about a month after the GDP. Despite the fact that GNP and GDP do not measure the service and government sectors as well as they do manufacturing, and also do not allow for inflation, overall value of production, and other factors, such as the value of the underground economy, they are nevertheless significant measurements of economic health. In the United States, the economy has been considered to be in recession if there are two consecutive quarters of decrease in GNP or GDP. In 1995 the International Bank for Reconstruction and DevelopmentInternational Bank for Reconstruction and Development (IBRD)
(IBRD), independent specialized agency of the United Nations, with headquarters at Washington, D.C.; one of five closely associated development institutions (also including the International Center for Settlement of
..... Click the link for more information.
 (World Bank) created a new system for measuring national wealth, based on the value of natural and mineral resources.

Bibliography

See L. C. Thurow and R. L. Heilbroner, Economics Explained (1987); J. Craven, Introduction to Economics (1984); D. Coyle, G.D.P.: A Brief but Affectionate History (2014).

gross national product (GNP)

(ECONOMICS) the total money value of the final goods and services produced in an economy in any year, including income from overseas property

Gross National Product

 

an economic index used in bourgeois statistics of some capitalist countries, as well as international economic and statistical organizations; it represents the total value of final goods and services, expressed in market prices. As a rule, gross national product is computed by use (and not by production and distribution) and encompasses the value of the public’s consumption of goods and services, government purchases, capital investments, and the net balance of payments. Evaluation in market prices means that the gross national product incorporates indirect taxes included in the price and excludes state subsidies. The gross national product differs considerably in amount and structure from the gross social product of socialist countries. For example, the gross national product does not include material outlays (raw and other materials, fuel, and so forth) but at the same time does include the sum of nonproduction services. The gross national product is close in size to national income as computed according to the concept of bourgeois statisticians: it exceeds national income by the amount of depreciation of fixed capital and indirect taxes. That is why a comparison of the dynamics and structure of the economies of capitalist countries with the dynamics and structure of socialist countries requires considerable recalculation. In order for gross national product to be comparable with the national income of socialist countries, depreciation and nonproduction services are excluded from gross national product, which usually lowers its amount by about 30 percent.

V. M. KUDROV

gross national product

the total value of all final goods and services produced annually by a nation
References in periodicals archive ?
At first the PP granules and all the GNPs were dried in a vacuum oven at 60[degrees]C for 24 h to remove moisture from the materials.
Therefore, the fitness function of GNP is concerned with importance, complexity, and novelty of rule r.
In addition, GNP were mixed with ethanol and sonicated using an ultrasonic bath at room temperature for 20 min, and little drops were dropped onto a copper grid using a micropipette.
GNP Realty Partners will continue to work to evolve and adapt to changing industry technologies and business models, according to Renata, but she is confident that the company's personalized approach to its customers is the one thing that won't change.
--the scale of economic activity (measured by conventional GNP per capita and
Some 40 lawmakers of the main opposition Democratic Party (DP) took over the chairman's seat and podium at the main congress hall late on Tuesday night to block the GNP from pushing the budget bill through the parliament.
Manraj Ack scores from close range as GNP Sports start their fightback.; RED HOT...
This seems to confirm not only the common practice of macroeconomists to model movements in real GNP as stationary fluctuations around a linear deterministic trend (Blanchard 1981; Kydland and Prescott 1980) but also previous analyses, which had advanced the unit root hypothesis for the velocity of money (Gould and Nelson 1974) and stock prices (Samuelson 1973).
The accompanying tables analyze the level of total and per capita gross economic product (GNP), the economic structures of the nation or region expressed in terms of percentage shares of GNP by type of expenditure and gross value added by kind of economic activity, an analysis of economic development expressed in terms of the real growth of GNP and its components by type of expenditure and kind of economic activity, and an analysis of price development expressed in terms of implicit price deflators of GNP.
The fall in construction tax revenue will also have a seriously negative impact on the overall economy with Irish GNP set to fall below three per cent, compared with six per cent in the last six months.