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 is 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 minus capital consumption.

• triple-A rating
• TRIPS
• trough
• true and fair view
• trust
• trustee
• t test
• TUC
• turnkey project
• turnover
• turnover tax
• two-gap model
• two-part tariff
• two-stage least squares
• two-tier board
• type I and II errors
• unbiased estimator
• unbundling
• uncertainty
• uncompetitive
• UNCTAD
• undated security
• under-capitalized
• under-developed country
• under-funded pension scheme