GDP and GNP 이진혁 Lee jinhyeok

GDP is abbreviation of Gross Domestic Product. This means the sum of the market value of the goods and services produced in a country over a period of time. Standard on range of GDP is in country. Importation of foreign workers who work in Korea enter Korea's GDP. On the other hand, importation of Korean workers who work in other country is not include Korea's GDP.

GNP is similar GDP. GNP means sum of the value of the added value of the goods and services produced by Korean people in Korea and abroad. Standard on range of GNP is citizens of the country. For example, money that earned by park ji sung who was korean soccer player on abroad is inclode Korea's GNP. But importation of foreign workers who work in Korea not incloude Korea's GNP. These days, most nations adopt GDP. because advance to overseas is active, if adopt GNP, collecting the date will complicate.

GDP  https://en.wikipedia.org/wiki/Gross_domestic_product
GNP  https://en.wikipedia.org/wiki/Gross_national_product