Q:

What is the GNP and GDP of the Philippines?

A:

Quick Answer

The gross national product, or GNP, of the Philippines was around $769 billion in 2014. The gross domestic product, or GDP, was at around $272 billion during the same period.

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Full Answer

In the complex world of economics, the GDP and GNP are two very different things. The GDP is simply a measure of all of the goods and services produced by the country in question while the GNP measures the value of all goods and services produced by the citizens of that country regardless of where they happen to be in the world.

The United States, for example, has very similar GDP and GNP figures, because the vast majority of Americans live and work inside the borders of the continental U.S. The same is true of most western nations, such as the United Kingdom, Germany or France.

The Philippines has an enormous disparity between the two figures because so many citizens from the Philippines live and work abroad due to the less than ideal working conditions at home. Indeed, the U.S. alone plays home to millions of Filipino residents, with huge Filipino communities in Los Angeles, San Francisco and New York. Filipinos are the fourth-largest immigrant community in the U.S. after Mexicans, Chinese and Indians.

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