Gross National Product at Market Price:

This is the measure of the money value of all goods and services produced by all the nationals of a country (both within and abroad) during a given period of time, usually one year. It excludes value of outputs by non-nationals within the country.

We should remember the following aspects about GNP. (i) GNP is a flow concept:- GNP represents a flow. It is a quantity produced per unit of time. It is the value of final goods and services produced in a country during a given time period.

(ii) GNP measures final output:- While calculating GNP, the market value of only final goods and services produced in a year are added up. Final goods are those goods which are purchased for final use in the market.

(iii) GNP is output produced by the citizens of a country:- Gross national product is the final output of goods and services produced by the citizens and businesses of a country during a given time period which is usually a year. For example, the economic activity carried out by the Uganda citizens and businesses outside the country is counted in GNP. While the income of the residents who are not Uganda citizens is subtracted from GNP.