Gross National Income for Austria
MKTGNIATA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
523,384,071,787.60
Year-over-Year Change
28.54%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross National Income (GNI) measures the total domestic and foreign income earned by a country's residents and businesses. It is a key indicator of a nation's economic health and living standards.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GNI for Austria represents the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output, plus net receipts of primary income (compensation of employees and property income) from abroad.
Methodology
GNI data is collected by the World Bank through national accounts information provided by statistical agencies.
Historical Context
GNI is used by policymakers, economists, and international organizations to assess economic performance and make informed decisions.
Key Facts
- Austria's GNI was $481.78 billion in 2021.
- GNI per capita in Austria was $53,910 in 2021.
- Austria's GNI growth rate was 7.4% in 2021.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) measures the total domestic and foreign income earned by a country's residents and businesses. It is a comprehensive indicator of a nation's economic activity and living standards.
Q: Why is this trend relevant for users or analysts?
A: GNI is a crucial metric used by policymakers, economists, and international organizations to assess a country's economic performance, living standards, and overall development.
Q: How is this data collected or calculated?
A: The World Bank collects GNI data through national accounts information provided by statistical agencies in each country.
Q: How is this trend used in economic policy?
A: GNI data is used by governments, central banks, and international institutions to inform economic policies, monitor growth, and make decisions on investments, trade, and social welfare programs.
Q: Are there update delays or limitations?
A: GNI data is typically published with a lag of 1-2 years, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross National Income for Austria (MKTGNIATA646NWDB), retrieved from FRED.