The total value of income produced by factors of production owned by residents of a country. This includes income from factors owned by residents but operating abroad, and excludes the value of factors operating domestically but owned by non-residents. This can be contrasted with domestic product, which is the value of incomes produced domestically, regardless of ownership. Gross national product (GNP) is calculated before deducting an estimate of capital consumption; net national product is GNP less capital consumption.