Gross National Product (GNP)
Gross National Product (GNP) is total market value of the final goods and services produced by a country’s residents living in home and abroad during a specified period of time (usually a year).
GNP is commonly calculated by taking the sum of personal consumption expenditures, private domestic investment, government expenditure, net exports, and any income earned by nationals overseas, minus income earned within the domestic economy by foreign residents.
Net exports represent the difference what a country exports minus any imports of goods and services. In plain words, the income of the citizens of Bangladesh living in the Middle East will be included in the GNP of Bangladesh.
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Similarly, the income of the Chinese people working in Bangladesh will be included in the GNP of China. Moreover, GNP omits the value of intermediary goods to avoid double counting.