Definition: Gross national product (GNP)

Category: IMF terminology

Gross national product was formerly used as a measure of a country's overall economic activity, equal to GDP less compensation of employees and property income payable to the rest of the world plus the corresponding items receivable from the rest of the world; GNP has been renamed gross national income (GNI) in the System of National Accounts. http://www.imf.org/external/np/exr/glossary/showTerm.asp