DR's GNP

[aegap]

does the DR measure its GNP?

how does it compare to its GDP?

[NALs]

Originally Posted by aegap

does the DR measure its GNP?

how does it compare to its GDP?

Officially, GNP has not been used to gauge the size of an economy since 1993 when all such statistics are based on GDP.

For those of you who don't know the difference:

GNP means Gross National Product and is the sum of the economic output of all firms of a country. Example: A General Motors factory in the United States will count towards the GNP of the United States but the Toyota factory in the United States will count towards the GNP of Japan.

GDP means Gross Domestic Product and is the sum of all economic output within a country, regardless if the companies are foreign or domestic. Example: A General Motors factory in the United States will counted towards the GDP of the US as well as the Toyota factory in the United States will count towards the GDP of the US, not Japan.
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Regarding how it compares to GDP, it's hard to say since such statistics are not officially available anymore. You have to be careful to not comfuse exchange rate adjusted GDP and Purchasing Power Parity GDP, the later being the most used although the first is used as well.

The difference is that the first is created by taking the GDP in local currency and using the exchange rate to see how much it is in a hard currency such as US Dollar. Purchasing Power Parity GDP is adjusted for the CPI level of the country.

Thus, GDP (PPP) will appear bigger than regular GDP and GNP will be smaller than GDP, especially in a country like the DR where the vast majority of goods sold are either imported or have imported material.

-NALs

[MerengueDutchie]

I thought NAL's example was familiar and what did I find in this Wikipedia article:

http://en.wikipedia.org/wiki/GNP

Next time quote the sources..

[shadInToronto]

Originally Posted by MerengueDutchie

I thought NAL's example was familiar and what did I find in this Wikipedia article:

http://en.wikipedia.org/wiki/GNP

Next time quote the sources..

It was said before

[NALs]

Originally Posted by MerengueDutchie

I thought NAL's example was familiar and what did I find in this Wikipedia article:

Measures of national income and output - Wikipedia, the free encyclopedia

Next time quote the sources..

You know, there are only a few ways to say something that is as basic as defining GDP and GNP!

I did not took info from such sources, but from school! Next time, quote word for word and try to pick something that is not as basic as GDP vs. GNP!

!

-NALs

[aegap]

does anyone measure it?
...if so, how does it compare to DR's GDP?

[NALs]

Originally Posted by aegap

does anyone measure it?
...if so, how does it compare to DR's GDP?

Anyone can attempt to measure the GNP, but no official entity engage in such thing since GDP is universally accepted, although Americans have a tendency to put more emphasis on GDP PPP rather than nominal GDP.

It's hard to say how it compares to GDP since there are no reliable GNP estimates except for the one's created prior to 1993. The problem with using those estimates is that the DR has grown since then and there are more Dominican companies and the big one's have become even bigger and have expanded abroad.

The only thing that I can say is that GNP almost always is smaller than GDP, especially in an economy that has a large participation of foreign companies in most economic sectors.

According to Latin Business Chronicle (click on the link at the end of this post), the Dominican Republic has the 2nd most globalized economy in Latin America, number 1 being Panama. Speaks volumes of the importance foreign companies are to the Dominican economy and as such, whatever those foreign companies produce within the DR will count towards the GNP of their respective nations. However, whatever they produce within the DR will be counted towards the DR's GDP.

-NALs

http://www.latinbusinesschronicle.co...lagi100305.htm

[aegap]

Originally Posted by NALs

The only thing that I can say is that GNP almost always is smaller than GDP, especially in an economy that has a large participation of foreign companies in most economic sectors.
...


According to Latin Business Chronicle (click on the link at the end of this post), the Dominican Republic has the 2nd most globalized economy in Latin America, number 1 being Panama. Speaks volumes of the importance foreign companies are to the Dominican economy and as such, whatever those foreign companies produce within the DR will count towards the GNP of their respective nations. However, whatever they produce within the DR will be counted towards the DR's GDP

That's exactly why I'm interested in a comparison of the two. ..I want to know what Dominicans ACTUALLY own!

[A.Hidalgo]

Originally Posted by aegap

That's exactly why I'm interested in a comparison of the two. ..I want to know what Dominicans ACTUALLY own!

You may get your answer here about the Dominican Republic's GDP.

http://www.cia.gov/cia/publications/factbook/index.html

[aegap]

Originally Posted by thanatos

You may get your answer here about the Dominican Republic's GDP.

http://www.cia.gov/cia/publications/factbook/index.html

The Economist Intellegence Unit , which also includes future projections and a better analysis, is a better source, .