gross national product

A country's gross national product is the total value of the goods it produces and services it provides in a year. The gross national product is one way to calculate the health of a country's economy.

The gross national product, or GNP, can tell you a lot about a country. In 2019, for instance, China's GNP was a bit higher than the GNP of the U.S. — meaning that more goods were made by Chinese citizens that year. An economist would tell you that the GNP measures a nation’s economic production, including goods made in other countries. If the sneaker company you own produces cool shoes in a Korean factory, that still counts toward your home country’s gross national product.

Definitions of gross national product

1. noun

   former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr)
   synonyms: GNP

   types:

   real GNP, real gross national product

   a version of the GNP that has been adjusted for the effects of inflation

   type of:

   value

   the quality (positive or negative) that renders something desirable or valuable