Difference between GDP and NNP?
|1. Definition||GDP refers to the market value of all the final goods and services produced within the domestic country during an accounting year inclusive of depreciation.||Net National Product at the market prices refers to the total market value of all the final goods and services produced by the normal residents of a country both within the domestic territory as well as outside the country.|
|2. Inclusion/Exclusion||Depreciation is not taken into account in its estimation. Also, GDP is limited to the domestic territory, thus, excludes NFIA.||NNP excludes depreciation but includes NFIA.|