Gross National Product (GNP)
The total value of goods and services produced by a country's residents, regardless of location.
What is GNP?
Gross National Product (GNP) measures the total market value of all goods and services produced by a country's residents — including production abroad — over a given period, typically one year. It differs from GDP (Gross Domestic Product) in that GDP measures output within a country's borders regardless of who produces it, while GNP measures output by a country's nationals regardless of where production occurs. GNP = GDP + Net Factor Income from Abroad. For large economies like the US, the difference between GDP and GNP is small. For smaller countries with large numbers of citizens working abroad (remittances) or large foreign investment income flows, the gap can be significant.
Example
Ireland's GNP is substantially lower than its GDP because many large multinational corporations book profits in Ireland for tax purposes, inflating Irish GDP figures. In 2022, Irish GDP was approximately €504 billion, but GNP was roughly €280 billion — about 55% of GDP — reflecting profit repatriation by foreign multinationals.
Source: Central Statistics Office Ireland — National Accounts