What is GDP , GDP Calculation

What is GDP and how it is calculated?

Gross Domestic Product (GDP) represents the total market value of all final goods and

services produced in a country in a given year. The GDP can be calculated in the

following methods:

GDP = C + I + G + NX.

C -All household consumption of goods and services.

I -All Investments made by Households and Corporates.

G -All expenditure made by local, state and federal governments.
NX -Exports minus Imports.
GDP = GNP -Net inflow of Labor and Property income from abroad.
The Gross National Product (GNP) is the value of all the goods and services produced in an economy, plus the value of the goods and services imported, less the goods and services exported.
It is important to differentiate between GDP and GNP. GDP includes only goods and services produced within the geographical boundaries of a country, say India, regardless of the producer's nationality. GNP does not include goods and services produced by foreign players in India, but does include goods and services produced by Indian firms operating in foreign countries.
Example: Hyundai's Indian operation would account for India's GDP and South Korea's GNP.