What is the difference between GDP and GNP growth rate?

The difference between GDP and GNP growth rate lies in the components used to calculate each measure. GDP (Gross Domestic Product) measures the total value of goods and services produced within a country's borders, regardless of the nationality of the producers. On the other hand, GNP (Gross National Product) measures the total value of goods and services produced by a country's residents, regardless of where they are located.

The GDP growth rate calculates the percentage change in the value of goods and services produced within a country over a specific period of time. It reflects the economic performance of a country's domestic economy.

The GNP growth rate, on the other hand, calculates the percentage change in the value of goods and services produced by a country's residents, regardless of their location. It takes into account the income earned by a country's residents from their economic activities both domestically and abroad.

In summary, the main difference between GDP and GNP growth rate is that GDP measures the value of goods and services produced within a country's borders, while GNP measures the value of goods and services produced by a country's residents, regardless of their location.