Gross National Product and Gross Domestic Product is the total value of the finished goods and services produced in the economy. It is not a precise measure of national economic well-being but expressed in volume (adjusted for inflation) it is the closest single number we have got to such a measure. It is the sum of final expenditures; Export of goods and services, Imports of goods and services, Private Consumption, Government Consumption, Gross Fixed Capital Formation and Increases/Decreases(-) in stocks. The difference between Gross National Product and Gross Domestic Product is the Net Factor Income/Payments abroad.
The chain-linked method was applied to Japans System of National Accounts from the second preliminary estimates of GDP for July - September 2004. It is well known that the inflation-adjusted economic growth rates may be overestimated for years far from the base year under the present method (fixed-base year, rebased every five years).