Gross National Product (GNP)

The total output produced by a country residents, wherever located.

GNP measures the value of goods and services produced by a nation residents and businesses, whether at home or abroad, unlike GDP, which counts output within borders. The gap between the two reflects net income earned overseas versus by foreigners domestically.

Because so many of its firms earn profits abroad, the country's Gross National Product (GNP) exceeded its GDP.