GDP vs GNP

 Gross National Product (GNP)

The GNP is defined as the total value of

income earned by residents of a country regardless of where the

income came from.

Gross Domestic Product (GDP)

The GDP  is the total value of production realized by

 resident producers in an economic territory.

In the broad sense :

GDP is " GAWA sa PILIPINAS  "and for GNP is " GAWA ng mga PILIPINO "

             " Gross Domestic Product , Net Factor Income from Abroad and 
                                              Gross National Product"
                                           1st Qtr 2000 - 4th Qtr 2010
                                                     ( in million PhP) 

*At Current Prices

            

         2009     2010

a.) GROSS DOMESTIC PRODUCT             7,678,917            8,513,037

b.) GROSS NATIONAL  PRODUCT             8,809,984            9,750,193 

c.) NET FACTOR INCOME FROM               1,131,067            1,237,157
                  ABROAD

> Understanding the Gross Domestic Product (GDP) and Gross National Product (GNP) is important as a citizen. Knowing it makes us an informed citizen. You will know the products coming in and out in the country.

The reasons why GNP is always HIGHER than GDP. . . .

* One of the reason is that our fellow Filipino Citizen goes to abroad to work their, We called them OFWs (Overseas Filipino Workers) which causes the GNP to OVERPOWER the GDP. It also include that most of our country men loves imported goods rather than our local goods, we love imported products because their HIGH CLASS QUALITY not like those local product we had here, this is the initial thinking of our fellow Filipinos today, that is why we seldom buy local good from our county and these also are the main reasons why our GNP is always higher than our GDP.