Net National Product (NNP)

Net National Product (NNP) represents the total market value of all finished goods and services produced by a country's citizens in a given time period, after accounting for depreciation. GNP stands for Gross National Product, which is the total market value of all products and services produced in a time period. Depreciation refers to the reduction in the value of physical capital due to wear and tear, obsolescence or changes in the economy. NNP is an important indicator in economics used to assess the overall economic performance of a country, and it provides a measure of how much the nation is able to consume without impairing its capital assets.