0
National Expenditure =
consumption (durables + non-durables + services)
+
investment (business fixed investment (i.e. plant, equipment, inventories))
+
government (purchase of goods and services not transfer of money (i.e. tax, pension))
+
net export
=
GDP
_____________________________________________________________
This is only for the first step to find the GDE (same as GDP but the E is for Expenditure).
To find the GNE you have to add the Net Factor Expenditure from abroad (NFEFA) to the GDE.
The NFEFA is the difference between output of locally owned resources located abroad and the output of foreign owned resources in the country.
Thus, we add the NFEFA to the GDE to get the GNE
GNE = GDE + NFEFA
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