Comparison between GDP and GNP

	GDP	GNP
Stands for:	Gross Domestic Product	Gross National Product
Definition:	An estimated value of the total worth of a country’s production and services, on its land, by its nationals and foreigners, calculated over the course on one year	An estimated value of the total worth of production and services, by citizens of a country, on its land or on foreign land, calculated over the course on one year
Formula for Calculation:	GDP = consumption + investment + (government spending) + (exports − imports)	GNP = GDP + NR (Net income inflow from assets abroad or Net Income Receipts) - NP (Net payment outflow to foreign assets)
Uses:	Business, Economic Forecasting	Business, Economic Forecasting
Application (Context in which these terms are used):	To see the strength of a country’s local economy	To see how the nationals of a country are doing economically
Layman Usage:	Total value of products & Services produced within the territorial boundary of a country	Total value of Goods and Services produced by all nationals of a country (whether within or outside the country)
Country with Highest Per Capita (US$):	Luxembourg ($87,400)	Luxembourg ($45,360)
Country with Lowest Per Capita (US$):	Liberia ($16)	Mozambique ($80)
Country with Highest (Cumulative):	USA ($13.06 Trillion in 2006)	USA (~ $11.5 Trillion in 2005)