gross national product

Noun

gross national product (usually uncountable, plural gross national products)

1. (usually) The total market value of all the goods and services produced by a nation (citizens of a country, whether living at home or abroad) during a specified period.
   • Within the two years from 1956 to 1958 the increase of expenditures was 34 per cent in terms of dollar outlays and 28 per cent in terms of the portion of gross national product spent on higher education.1962, Fritz Machlup, The Production and Distribution of Knowledge in the United States, Princeton University Press, →ISBN, page 77
   • Gross domestic product refers to the value of all goods and services produced within the country's boundaries, gross national product also includes net income from investments abroad.2001, John Beardshaw, Economics: A Student's Guide, Pearson Education, →ISBN

   Synonyms:

   GNP, gross national income