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Gross national income

January 26, 2023

Not to be confused with Gross domestic product or Modified gross national income (GNI*).
"GNP" redirects here. For other uses, see GNP (disambiguation).

The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.[2]: 44  Comparing GNI to GDP shows the degree to which a nation's GDP represents domestic or international activity. GNI has gradually replaced GNP in international statistics.[3][4] While being conceptually identical, it is calculated differently.[5] GNI is the basis of calculation of the largest part of contributions to the budget of the European Union.[6] In February 2017, Ireland's GDP became so distorted from the base erosion and profit shifting ("BEPS") tax planning tools of U.S. multinationals, that the Central Bank of Ireland replaced Irish GDP with a new metric, Irish Modified GNI (or "GNI*"). In 2017, Irish GDP was 162% of Irish Modified GNI.[7]

World Bank's income groups as of 2021[1]

Comparison of GNI and GDP

 

Comparison of GNI (Atlas method), GNI and GDP
2018 World Bank (millions of current US$)
No. Country GNI (Atlas method)[8] GNI[9] GDP[10]
value (a) a - GDP value (b) b - GDP
1   United States 20,636,317 91,974 20,837,347 293,004 20,544,343
2   China 13,181,372 -426,779 13,556,853 -51,298 13,608,151
3   Japan 5,226,599 255,276 5,155,423 184,100 4,971,323
4   Germany 3,905,321 -42,299 4,058,030 110,410 3,947,620
5   France 2,855,844 -45,685 2,832,584 43,684 2,804,484
6   United Kingdom 2,777,405 -77,891 2,816,805 -38,491 2,855,296
7   India 2,727,893 9,161 2,691,040 -27,692 2,718,732
8   Italy 2,038,376 -45,488 2,106,525 22,661 2,083,864
9   Brazil 1,902,286 16,804 1,832,170 -53,312 1,885,482
10   Canada 1,665,565 -47,776 1,694,054 -19,287 1,713,341

GNI (Atlas method) nominal

Nominal, Atlas method – millions of current US$ (top 15)[3]

Rank 2021 2014 2013 2012 2011 2010 2009 2008 2007 2006
1   United States 23,393,117   United States 17,611,491   United States 17,001,290   United States 16,501,016   United States 15,727,291   United States 15,143,137   United States 14,740,580   United States 15,002,428   United States 14,651,211   United States 14,345,565
2   China 17,576,648   China 10,096,966   China 9,110,333   China 7,934,721   China 6,726,270   China 5,752,320   China 4,856,999   Japan 4,835,553   Japan 4,812,119   Japan 4,931,413
3   Japan 5,124,619   Japan 5,339,076   Japan 5,899,905   Japan 6,101,579   Japan 5,775,633   Japan 5,376,601   Japan 4,797,984   China 4,070,860   Germany 3,348,291   Germany 3,160,529
4   Germany 4,350,736   Germany 3,853,623   Germany 3,809,927   Germany 3,754,154   Germany 3,801,607   Germany 3,662,524   Germany 3,588,452   Germany 3,601,765   China 3,283,519   China 2,685,206
5   United Kingdom 3,170,239   France 2,844,284   France 2,869,883   France 2,824,713   France 2,889,304   France 2,847,703   France 2,831,553   United Kingdom 2,904,224   United Kingdom 2,835,805   United Kingdom 2,645,489
6   India 3,123,967   United Kingdom 2,801,499   United Kingdom 2,695,974   United Kingdom 2,612,525   United Kingdom 2,542,593   United Kingdom 2,540,957   United Kingdom 2,666,939   France 2,800,864   France 2,576,642   France 2,414,820
7   France 3,002,339   Brazil 2,429,720   Brazil 2,486,874   Brazil 2,432,061   Italy 2,237,958   Italy 2,234,508   Italy 2,227,358   Italy 2,222,143   Italy 2,093,640   Italy 1,989,288
8   Italy 2,125,095   Italy 2,147,247   Italy 2,130,760   Italy 2,143,583   Brazil 2,207,921   Brazil 1,916,260   Brazil 1,572,431   Spain 1,490,975   Canada 1,356,017   Spain 1,241,641
9   Canada 1,975,687   India 2,027,964   Russia 1,981,791   India 1,892,548   India 1,755,712   India 1,555,615   Spain 1,519,339   Canada 1,484,345   Spain 1,353,031   Canada 1,224,994
10   South Korea 1,820,500   Russia 1,930,634   India 1,952,847   Russia 1,823,299   Canada 1,617,083   Canada 1,511,465   Canada 1,447,937   Brazil 1,427,429   Brazil 1,152,772   South Korea 966,585
11   Russia 1,732,532   Canada 1,785,099   Canada 1,848,274   Canada 1,773,264   Russia 1,547,010   Spain 1,496,363   India 1,392,779   Russia 1,368,593   India 1,117,463   India 941,326
12   Brazil 1,558,511   Australia 1,444,201   Australia 1,514,269   Spain 1,396,221   Spain 1,455,758   Russia 1,425,123   Russia 1,318,495   India 1,229,139   South Korea 1,091,726   Mexico 921,879
13   Australia 1,528,228   Spain 1,366,027   Spain 1,376,929   Australia 1,359,417   South Korea 1,125,787   South Korea 1,053,302   South Korea 1,037,381   South Korea 1,118,647   Russia 1,079,991   Brazil 898,063
14   Spain 1,432,586   South Korea 1,365,797   South Korea 1,298,958   South Korea 1,232,164   Australia 1,119,902   Mexico 1,026,316   Mexico 988,663   Mexico 1,074,555   Mexico 1,000,700   Russia 830,146
15   Mexico 1,260,700   Mexico 1,237,533   Mexico 1,202,800   Mexico 1,167,292   Mexico 1,068,140   Australia 1,025,186   Australia 954,754   Australia 900,062   Netherlands 809,106   Netherlands 753,205

GNI (Atlas method) PPP

PPP – millions of international dollars (top 15)[4]

Rank 2021 2016 2014 2013 2012 2011 2010 2009 2008 2007 2006
1   China 27,070,110   China 21,366,057   China 17,966,893   United States 17,091,162   United States 16,596,084   United States 15,802,898   United States 15,121,133   United States 14,494,460   United States 14,791,194   United States 14,585,723   United States 14,140,770
2   United States 23,393,117   United States 18,749,688   United States 17,823,200   China 16,418,959   China 15,112,256   China 13,680,536   China 12,305,378   China 11,017,654   China 10,090,052   China 8,991,462   China 7,637,790
3   India 10,059,402   India 8,594,226   India 7,292,778   India 6,699,996   India 6,179,567   India 5,794,517   India 5,314,158   India 4,783,856   Japan 4,433,212   Japan 4,408,333   Japan 4,180,595
4   Japan 5,601,433   Japan 5,443,842   Japan 4,846,688   Japan 4,844,841   Japan 4,700,740   Japan 4,522,723   Japan 4,437,371   Japan 4,192,471   India 4,376,743   India 4,138,987   India 3,658,435
5   Germany 4,961,000   Germany 4,394,786   Germany 4,243,163   Germany 4,097,775   Germany 3,890,009   Germany 3,634,151   Germany 3,505,460   Germany 3,407,922   Germany 3,286,644   Germany 3,170,077   Germany 3,006,891
6   Russia 4,668,845   Brazil 4,175,469   Brazil 3,809,390   Brazil 3,651,266   Brazil 3,474,015   Brazil 3,293,559   Brazil 3,157,522   Brazil 2,953,733   Brazil 2,836,486   Brazil 2,724,769   Brazil 2,603,694
7   France 3,499,765   Russia 3,305,725   Russia 3,237,388   Russia 3,108,506   Russia 3,254,184   Russia 3,124,400   Russia 2,837,672   Russia 2,678,150   Russia 2,597,648   United Kingdom 2,325,258   United Kingdom 2,270,766
8   Indonesia 3,471,169   Indonesia 2,929,424   France 2,655,517   France 2,625,346   France 2,494,655   France 2,495,100   France 2,381,563   France 2,291,855   United Kingdom 2,343,012   Russia 2,288,657   France 2,094,160
9   Brazil 3,328,105   France 2,835,242   Indonesia 2,592,315   United Kingdom 2,483,802   United Kingdom 2,394,758   United Kingdom 2,343,934   United Kingdom 2,281,280   United Kingdom 2,272,667   France 2,310,555   France 2,224,097   Russia 2,071,669
10   United Kingdom 3,327,025   United Kingdom 2,763,382   United Kingdom 2,550,078   Indonesia 2,436,810   Indonesia 2,275,802   Italy 2,124,755   Italy 2,054,019   Italy 2,016,501   Italy 2,050,607   Italy 1,971,909   Italy 1,865,144
11   Italy 2,745,846   Italy 2,316,529   Italy 2,155,153   Italy 2,148,502   Italy 2,134,839   Indonesia 2,106,961   Indonesia 1,949,021   Indonesia 1,798,541   Indonesia 1,705,066   Indonesia 1,568,263   Indonesia 1,434,248
12   Turkey 2,553,209   Mexico 2,262,919   Mexico 2,111,206   Mexico 1,939,753   Mexico 1,941,682   Mexico 1,859,264   Mexico 1,710,132   Mexico 1,597,656   Mexico 1,611,372   Mexico 1,516,236   Mexico 1,432,295
13   Mexico 2,544,720   Turkey 1,907,486   South Korea 1,696,955   South Korea 1,652,081   South Korea 1,627,812   South Korea 1,568,631   South Korea 1,506,812   Spain 1,492,658   Spain 1,508,412   Spain 1,447,718   Spain 1,346,277
14   South Korea 2,457,443   South Korea 1,833,914   Canada 1,576,495   Saudi Arabia 1,549,822   Spain 1,497,167   Spain 1,494,181   Spain 1,486,687   South Korea 1,393,108   South Korea 1,405,612   South Korea 1,350,407   South Korea 1,246,382
15   Canada 1,976,965   Saudi Arabia 1,799,740   Spain 1,556,600   Canada 1,535,440   Saudi Arabia 1,488,100   Canada 1,401,447   Canada 1,336,646   Canada 1,279,702   Canada 1,313,134   Canada 1,271,027   Canada 1,212,200

Gross national product

Gross national product (GNP) is the market value of all the goods and services produced in one year by labor and property supplied by the citizens of a country. Unlike gross domestic product (GDP), which defines production based on the geographical location of production, GNP indicates allocated production based on location of ownership. In fact it calculates income by the location of ownership and residence, and so its name is also the less ambiguous gross national income.

GNP is an economic statistic that is equal to GDP plus any income earned by residents from overseas investments minus income earned within the domestic economy by overseas residents.

GNP does not distinguish between qualitative improvements in the state of the technical arts (e.g., increasing computer processing speeds), and quantitative increases in goods (e.g., number of computers produced), and considers both to be forms of "economic growth".[11]

When a country's capital or labour resources are employed outside its borders, or when a foreign firm is operating in its territory, GDP and GNP can produce different measures of total output. In 2009 for instance, the United States estimated its GDP at $14.119 trillion, and its GNP at $14.265 trillion.[12]

The term gross national income (GNI) has gradually replaced the Gross national product (GNP) in international statistics.[3][4] While being conceptually identical, the precise calculation method has evolved at the same time as the name change.[5]

Use of GNP

The United States used GNP as its primary measure of total economic activity until 1991, when it began to use GDP.[13] In making the switch, the Bureau of Economic Analysis (BEA) noted both that GDP provided an easier comparison of other measures of economic activity in the United States and that "virtually all other countries have already adopted GDP as their primary measure of production".[14] Many economists have questioned how meaningful GNP or GDP is as a measure of a nation's economic well-being, as it does not count most unpaid work and counts much economic activity that is unproductive or actually destructive.[15]

GNI vs GDP

While GDP measures the market value of all final goods and services produced in a given country, GNI measures income generated by the country's citizens, regardless of the geographic location of the income. In many states, those two figures are close, as the difference between income received by the country versus payments made to the rest of the world is not significant. According to the World Bank, the GNI of the US in 2016 was 1.5% higher than GDP.[16]

In developing countries, on the other hand, the difference might be significant due to a large amount of foreign aid and capital inflow. In 2016, the GNI[17] of Armenia was 4.45% higher than GDP.[18] Based on the OECD reports, in 2015 alone, Armenia has received a total of US$409 million development assistance. Over the past 25 years, USAID has provided more than one billion USD to improve the living of the people in Armenia. GNI equals GDP plus wages, salaries, and property income of the country's residents earned abroad that also constitutes the higher GNI figure. According to the UN report on migration from Armenia in 2015–17, every year around 15–20 thousand people leave Armenia permanently,[19] and roughly 47% of those are working migrants that leave the country to earn income and sustain the families left in Armenia. In 2016 Armenian residents received in a total of around $150 million remittances.[20] Armenia's Gni, measured in US dollars, amounted to USD 13.5 billion in 2021, according to the National Statistical Office. This is an 8.23% increase over the prior year.GNI in USD terms in Armenia has historically ranged from a record high of USD 13.8 billion in 2019 to a record low of USD 1.06 billion in 1992. Regarding interest rates on GNI expressed in USD, Armenia is ranked 119th out of the 155 nations we monitor.[21]

See also

References

  1. ^ "World Bank's Income Groups". Our World in Data. Retrieved 5 March 2020.
  2. ^ Todaro, Michael P.; Smith, Stephen C. (2012). Economic development (11 ed.). Addison-Wesley. ISBN 978-0-13-801388-2.
  3. ^ a b c World Bank. "GNI, Atlas method". data.worldbank.org. Retrieved 2022-10-23.
  4. ^ a b c World Bank. "GNI, PPP (international $)". data.worldbank.org. Retrieved 2022-10-23.
  5. ^ a b "Glossary:Gross national income (GNI)". Eurostat Statistic Explained. Eurostat. Retrieved 2016-06-23.
  6. ^ "Monitoring GNI for own resource purposes". Eurostat Statistic Explained. Eurostat. Retrieved 2016-06-23.
  7. ^ Heike Joebges (January 2017). "CRISIS RECOVERY IN A COUNTRY WITH A HIGH PRESENCE OF FOREIGN-OWNED COMPANIES: The Case of Ireland" (PDF). IMK Macroeconomic Policy Institute, Hans-Böckler-Stiftung.
  8. ^ "GNI, Atlas method (current US$)". World Bank.
  9. ^ "GNI (current US$)". World Bank.
  10. ^ "GDP (current US$)". World Bank.
  11. ^ Daly, Herman E. (1996), Beyond Growth. Beacon Press
  12. ^ (PDF). Board of Governors of the Federal Reserve System. 17 September 2010. p. 9. Archived from the original (PDF) on 8 December 2010. Retrieved 23 August 2018.
  13. ^ . Bureau of Economic Analysis. 5 September 2007. Archived from the original on June 4, 2007.
  14. ^ "Gross Domestic Product as a Measure of U.S. Production" (PDF). August 1991.
  15. ^ "Beyond GDP". The Economist. ISSN 0013-0613. Retrieved 2016-07-27.
  16. ^ "BEA: The World Bank - US figures". the World Bank. 2017.
  17. ^ "BEA: Armenia GNP". Macrotrends. 2019.
  18. ^ "BEA: Armenia GDP". Macrotrends. 2019.
  19. ^ "BEA: Migration Rate and Associated Issues in Armenia in 2016–2017". UN Armenia. 2017.
  20. ^ "BEA: Inflow of Remittances by Balance of Payments". Central Bank of Armenia. 2019.
  21. ^ "GNI (Current USD) in Armenia".

January 26, 2023
gross, national, income, confused, with, gross, domestic, product, modified, gross, national, income, redirects, here, other, uses, disambiguation, gross, national, income, previously, known, gross, national, product, total, domestic, foreign, output, claimed,. Not to be confused with Gross domestic product or Modified gross national income GNI GNP redirects here For other uses see GNP disambiguation The gross national income GNI previously known as gross national product GNP is the total domestic and foreign output claimed by residents of a country consisting of gross domestic product GDP plus factor incomes earned by foreign residents minus income earned in the domestic economy by nonresidents 2 44 Comparing GNI to GDP shows the degree to which a nation s GDP represents domestic or international activity GNI has gradually replaced GNP in international statistics 3 4 While being conceptually identical it is calculated differently 5 GNI is the basis of calculation of the largest part of contributions to the budget of the European Union 6 In February 2017 Ireland s GDP became so distorted from the base erosion and profit shifting BEPS tax planning tools of U S multinationals that the Central Bank of Ireland replaced Irish GDP with a new metric Irish Modified GNI or GNI In 2017 Irish GDP was 162 of Irish Modified GNI 7 World Bank s income groups as of 2021 1 Contents 1 Comparison of GNI and GDP 2 GNI Atlas method nominal 3 GNI Atlas method PPP 4 Gross national product 4 1 Use of GNP 4 2 GNI vs GDP 5 See also 6 ReferencesComparison of GNI and GDP EditG N I G D P Money flowing from foreign countries Money flowing to foreign countries displaystyle mathrm GNI mathrm GDP text Money flowing from foreign countries text Money flowing to foreign countries Comparison of GNI Atlas method GNI and GDP2018 World Bank millions of current US No Country GNI Atlas method 8 GNI 9 GDP 10 value a a GDP value b b GDP1 United States 20 636 317 91 974 20 837 347 293 004 20 544 3432 China 13 181 372 426 779 13 556 853 51 298 13 608 1513 Japan 5 226 599 255 276 5 155 423 184 100 4 971 3234 Germany 3 905 321 42 299 4 058 030 110 410 3 947 6205 France 2 855 844 45 685 2 832 584 43 684 2 804 4846 United Kingdom 2 777 405 77 891 2 816 805 38 491 2 855 2967 India 2 727 893 9 161 2 691 040 27 692 2 718 7328 Italy 2 038 376 45 488 2 106 525 22 661 2 083 8649 Brazil 1 902 286 16 804 1 832 170 53 312 1 885 48210 Canada 1 665 565 47 776 1 694 054 19 287 1 713 341GNI Atlas method nominal EditNominal Atlas method millions of current US top 15 3 Rank 2021 2014 2013 2012 2011 2010 2009 2008 2007 20061 United States 23 393 117 United States 17 611 491 United States 17 001 290 United States 16 501 016 United States 15 727 291 United States 15 143 137 United States 14 740 580 United States 15 002 428 United States 14 651 211 United States 14 345 5652 China 17 576 648 China 10 096 966 China 9 110 333 China 7 934 721 China 6 726 270 China 5 752 320 China 4 856 999 Japan 4 835 553 Japan 4 812 119 Japan 4 931 4133 Japan 5 124 619 Japan 5 339 076 Japan 5 899 905 Japan 6 101 579 Japan 5 775 633 Japan 5 376 601 Japan 4 797 984 China 4 070 860 Germany 3 348 291 Germany 3 160 5294 Germany 4 350 736 Germany 3 853 623 Germany 3 809 927 Germany 3 754 154 Germany 3 801 607 Germany 3 662 524 Germany 3 588 452 Germany 3 601 765 China 3 283 519 China 2 685 2065 United Kingdom 3 170 239 France 2 844 284 France 2 869 883 France 2 824 713 France 2 889 304 France 2 847 703 France 2 831 553 United Kingdom 2 904 224 United Kingdom 2 835 805 United Kingdom 2 645 4896 India 3 123 967 United Kingdom 2 801 499 United Kingdom 2 695 974 United Kingdom 2 612 525 United Kingdom 2 542 593 United Kingdom 2 540 957 United Kingdom 2 666 939 France 2 800 864 France 2 576 642 France 2 414 8207 France 3 002 339 Brazil 2 429 720 Brazil 2 486 874 Brazil 2 432 061 Italy 2 237 958 Italy 2 234 508 Italy 2 227 358 Italy 2 222 143 Italy 2 093 640 Italy 1 989 2888 Italy 2 125 095 Italy 2 147 247 Italy 2 130 760 Italy 2 143 583 Brazil 2 207 921 Brazil 1 916 260 Brazil 1 572 431 Spain 1 490 975 Canada 1 356 017 Spain 1 241 6419 Canada 1 975 687 India 2 027 964 Russia 1 981 791 India 1 892 548 India 1 755 712 India 1 555 615 Spain 1 519 339 Canada 1 484 345 Spain 1 353 031 Canada 1 224 99410 South Korea 1 820 500 Russia 1 930 634 India 1 952 847 Russia 1 823 299 Canada 1 617 083 Canada 1 511 465 Canada 1 447 937 Brazil 1 427 429 Brazil 1 152 772 South Korea 966 58511 Russia 1 732 532 Canada 1 785 099 Canada 1 848 274 Canada 1 773 264 Russia 1 547 010 Spain 1 496 363 India 1 392 779 Russia 1 368 593 India 1 117 463 India 941 32612 Brazil 1 558 511 Australia 1 444 201 Australia 1 514 269 Spain 1 396 221 Spain 1 455 758 Russia 1 425 123 Russia 1 318 495 India 1 229 139 South Korea 1 091 726 Mexico 921 87913 Australia 1 528 228 Spain 1 366 027 Spain 1 376 929 Australia 1 359 417 South Korea 1 125 787 South Korea 1 053 302 South Korea 1 037 381 South Korea 1 118 647 Russia 1 079 991 Brazil 898 06314 Spain 1 432 586 South Korea 1 365 797 South Korea 1 298 958 South Korea 1 232 164 Australia 1 119 902 Mexico 1 026 316 Mexico 988 663 Mexico 1 074 555 Mexico 1 000 700 Russia 830 14615 Mexico 1 260 700 Mexico 1 237 533 Mexico 1 202 800 Mexico 1 167 292 Mexico 1 068 140 Australia 1 025 186 Australia 954 754 Australia 900 062 Netherlands 809 106 Netherlands 753 205GNI Atlas method PPP EditPPP millions of international dollars top 15 4 Rank 2021 2016 2014 2013 2012 2011 2010 2009 2008 2007 20061 China 27 070 110 China 21 366 057 China 17 966 893 United States 17 091 162 United States 16 596 084 United States 15 802 898 United States 15 121 133 United States 14 494 460 United States 14 791 194 United States 14 585 723 United States 14 140 7702 United States 23 393 117 United States 18 749 688 United States 17 823 200 China 16 418 959 China 15 112 256 China 13 680 536 China 12 305 378 China 11 017 654 China 10 090 052 China 8 991 462 China 7 637 7903 India 10 059 402 India 8 594 226 India 7 292 778 India 6 699 996 India 6 179 567 India 5 794 517 India 5 314 158 India 4 783 856 Japan 4 433 212 Japan 4 408 333 Japan 4 180 5954 Japan 5 601 433 Japan 5 443 842 Japan 4 846 688 Japan 4 844 841 Japan 4 700 740 Japan 4 522 723 Japan 4 437 371 Japan 4 192 471 India 4 376 743 India 4 138 987 India 3 658 4355 Germany 4 961 000 Germany 4 394 786 Germany 4 243 163 Germany 4 097 775 Germany 3 890 009 Germany 3 634 151 Germany 3 505 460 Germany 3 407 922 Germany 3 286 644 Germany 3 170 077 Germany 3 006 8916 Russia 4 668 845 Brazil 4 175 469 Brazil 3 809 390 Brazil 3 651 266 Brazil 3 474 015 Brazil 3 293 559 Brazil 3 157 522 Brazil 2 953 733 Brazil 2 836 486 Brazil 2 724 769 Brazil 2 603 6947 France 3 499 765 Russia 3 305 725 Russia 3 237 388 Russia 3 108 506 Russia 3 254 184 Russia 3 124 400 Russia 2 837 672 Russia 2 678 150 Russia 2 597 648 United Kingdom 2 325 258 United Kingdom 2 270 7668 Indonesia 3 471 169 Indonesia 2 929 424 France 2 655 517 France 2 625 346 France 2 494 655 France 2 495 100 France 2 381 563 France 2 291 855 United Kingdom 2 343 012 Russia 2 288 657 France 2 094 1609 Brazil 3 328 105 France 2 835 242 Indonesia 2 592 315 United Kingdom 2 483 802 United Kingdom 2 394 758 United Kingdom 2 343 934 United Kingdom 2 281 280 United Kingdom 2 272 667 France 2 310 555 France 2 224 097 Russia 2 071 66910 United Kingdom 3 327 025 United Kingdom 2 763 382 United Kingdom 2 550 078 Indonesia 2 436 810 Indonesia 2 275 802 Italy 2 124 755 Italy 2 054 019 Italy 2 016 501 Italy 2 050 607 Italy 1 971 909 Italy 1 865 14411 Italy 2 745 846 Italy 2 316 529 Italy 2 155 153 Italy 2 148 502 Italy 2 134 839 Indonesia 2 106 961 Indonesia 1 949 021 Indonesia 1 798 541 Indonesia 1 705 066 Indonesia 1 568 263 Indonesia 1 434 24812 Turkey 2 553 209 Mexico 2 262 919 Mexico 2 111 206 Mexico 1 939 753 Mexico 1 941 682 Mexico 1 859 264 Mexico 1 710 132 Mexico 1 597 656 Mexico 1 611 372 Mexico 1 516 236 Mexico 1 432 29513 Mexico 2 544 720 Turkey 1 907 486 South Korea 1 696 955 South Korea 1 652 081 South Korea 1 627 812 South Korea 1 568 631 South Korea 1 506 812 Spain 1 492 658 Spain 1 508 412 Spain 1 447 718 Spain 1 346 27714 South Korea 2 457 443 South Korea 1 833 914 Canada 1 576 495 Saudi Arabia 1 549 822 Spain 1 497 167 Spain 1 494 181 Spain 1 486 687 South Korea 1 393 108 South Korea 1 405 612 South Korea 1 350 407 South Korea 1 246 38215 Canada 1 976 965 Saudi Arabia 1 799 740 Spain 1 556 600 Canada 1 535 440 Saudi Arabia 1 488 100 Canada 1 401 447 Canada 1 336 646 Canada 1 279 702 Canada 1 313 134 Canada 1 271 027 Canada 1 212 200Gross national product EditGross national product GNP is the market value of all the goods and services produced in one year by labor and property supplied by the citizens of a country Unlike gross domestic product GDP which defines production based on the geographical location of production GNP indicates allocated production based on location of ownership In fact it calculates income by the location of ownership and residence and so its name is also the less ambiguous gross national income GNP is an economic statistic that is equal to GDP plus any income earned by residents from overseas investments minus income earned within the domestic economy by overseas residents GNP does not distinguish between qualitative improvements in the state of the technical arts e g increasing computer processing speeds and quantitative increases in goods e g number of computers produced and considers both to be forms of economic growth 11 When a country s capital or labour resources are employed outside its borders or when a foreign firm is operating in its territory GDP and GNP can produce different measures of total output In 2009 for instance the United States estimated its GDP at 14 119 trillion and its GNP at 14 265 trillion 12 The term gross national income GNI has gradually replaced the Gross national product GNP in international statistics 3 4 While being conceptually identical the precise calculation method has evolved at the same time as the name change 5 Use of GNP Edit The United States used GNP as its primary measure of total economic activity until 1991 when it began to use GDP 13 In making the switch the Bureau of Economic Analysis BEA noted both that GDP provided an easier comparison of other measures of economic activity in the United States and that virtually all other countries have already adopted GDP as their primary measure of production 14 Many economists have questioned how meaningful GNP or GDP is as a measure of a nation s economic well being as it does not count most unpaid work and counts much economic activity that is unproductive or actually destructive 15 GNI vs GDP Edit While GDP measures the market value of all final goods and services produced in a given country GNI measures income generated by the country s citizens regardless of the geographic location of the income In many states those two figures are close as the difference between income received by the country versus payments made to the rest of the world is not significant According to the World Bank the GNI of the US in 2016 was 1 5 higher than GDP 16 In developing countries on the other hand the difference might be significant due to a large amount of foreign aid and capital inflow In 2016 the GNI 17 of Armenia was 4 45 higher than GDP 18 Based on the OECD reports in 2015 alone Armenia has received a total of US 409 million development assistance Over the past 25 years USAID has provided more than one billion USD to improve the living of the people in Armenia GNI equals GDP plus wages salaries and property income of the country s residents earned abroad that also constitutes the higher GNI figure According to the UN report on migration from Armenia in 2015 17 every year around 15 20 thousand people leave Armenia permanently 19 and roughly 47 of those are working migrants that leave the country to earn income and sustain the families left in Armenia In 2016 Armenian residents received in a total of around 150 million remittances 20 Armenia s Gni measured in US dollars amounted to USD 13 5 billion in 2021 according to the National Statistical Office This is an 8 23 increase over the prior year GNI in USD terms in Armenia has historically ranged from a record high of USD 13 8 billion in 2019 to a record low of USD 1 06 billion in 1992 Regarding interest rates on GNI expressed in USD Armenia is ranked 119th out of the 155 nations we monitor 21 See also EditNet national income Measures of national income and output Gross national income in the European Union List of countries by GNI nominal per capita National average salary Gross domestic product GDP Irish modified GNI or GNI List of U S states by adjusted per capita personal incomeReferences Edit World Bank s Income Groups Our World in Data Retrieved 5 March 2020 Todaro Michael P Smith Stephen C 2012 Economic development 11 ed Addison Wesley ISBN 978 0 13 801388 2 a b c World Bank GNI Atlas method data worldbank org Retrieved 2022 10 23 a b c World Bank GNI PPP international data worldbank org Retrieved 2022 10 23 a b Glossary Gross national income GNI Eurostat Statistic Explained Eurostat Retrieved 2016 06 23 Monitoring GNI for own resource purposes Eurostat Statistic Explained Eurostat Retrieved 2016 06 23 Heike Joebges January 2017 CRISIS RECOVERY IN A COUNTRY WITH A HIGH PRESENCE OF FOREIGN OWNED COMPANIES The Case of Ireland PDF IMK Macroeconomic Policy Institute Hans Bockler Stiftung GNI Atlas method current US World Bank GNI current US World Bank GDP current US World Bank Daly Herman E 1996 Beyond Growth Beacon Press Flow of Funds Accounts of the United States PDF Board of Governors of the Federal Reserve System 17 September 2010 p 9 Archived from the original PDF on 8 December 2010 Retrieved 23 August 2018 BEA Glossary G Bureau of Economic Analysis 5 September 2007 Archived from the original on June 4 2007 Gross Domestic Product as a Measure of U S Production PDF August 1991 Beyond GDP The Economist ISSN 0013 0613 Retrieved 2016 07 27 BEA The World Bank US figures the World Bank 2017 BEA Armenia GNP Macrotrends 2019 BEA Armenia GDP Macrotrends 2019 BEA Migration Rate and Associated Issues in Armenia in 2016 2017 UN Armenia 2017 BEA Inflow of Remittances by Balance of Payments Central Bank of Armenia 2019 GNI Current USD in Armenia Retrieved from https en wikipedia org w index php title Gross national income amp oldid 1128078970, wikipedia, wiki, book, books, library,

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