gross national product

Definition

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.

Example Sentences

• "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."
• "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."