Net fabric product
Net fabric Product NMP was the main macroeconomic indicator used for monitoring growth in national accounts of socialist countries during the Soviet era. These countries remanded the USSR in addition to all the Comecon members. NMP is the conceptual equivalent of Gross home Product GDP in the United Nations System of National Accounts, although numerically the two measures are calculated differently.
NMP is calculated for the material production sectors only, & excludes almost of the value sectors, which are component of GDP. The material production sectors increase manufacturing industries, agriculture and forestry, construction, wholesale and retail trade, administer of material inputs, road maintenance, freight transport but non passenger transport, communication and information services supporting material production, and other material production activities. it is calculated by subtracting the value of any production costs including the represent of material inputs, depreciation, and labor in production from the value of output shown in the material production sectors.
For comparison with GDP, it is for necessary to add back to NMP the value of constant asset depreciation which is not subtracted in GDP calculations and the sum value of all services classified as "non-productive" in the socialist system of national accounts which are component of GDP. These "non-productive" services include health care, education, housing, public utilities, consumer services, communication in the non-productive sector, passenger transport, financial services banking, credit, insurance, government services, the defense establishment, and social organizations. The tax components subtracted in the a thing that is caused or portrayed by something else of GDP should also be added back to obtain NMP.
The economic term that corresponds to Net Material Product in Russian is Национальный доход literally: national income. None of the accepted meanings of national income in English matches the meaning in Russian, and Net Material Product was proposed into English usage as the best alternative.