GDP Vs GNP

  • GDP: Gross Domestic Product (GDP) is the total money value of final goods and services produced in the economic territories of a country in a given year.
  • GDP stands for total value of goods and services produced inside the territory of India irrespective of whom produced it – whether by Indians or foreigners.
  • GNP: Gross National Product (GNP) is the total value of goods and services produced by the people of a country in a given year. It is not territory specific.
  • If we consider the GNP of India, it can be seen that GNP is lesser than GDP.