Gross National Product Law and Legal Definition

The gross national product (GNP) is a measure of a nation's aggregate economic output. The gross national product (GNP) is the value of all the goods and services produced in an economy, plus the value of the goods and services imported, less the goods and services exported.

Since 1991 GDP, a slightly different calculation, has replaced GNP as a measure of U.S. economic output. This meaurement helps present a useful picture of economic activity. Analysts use the GNP to indicate whether growth is positive or negative, whether growth is accelerating or decelerating, whether growth is high or low relative to the trend, and where the economy is in relation to the business cycle.