Gross National Income for Colombia
MKTGNICOA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
410,056,447,477.26
Year-over-Year Change
15.02%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross National Income (GNI) for Colombia measures the total income earned by a country's residents and businesses, both domestically and abroad. It is a key metric for evaluating the overall economic health and living standards of a nation.
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 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 from abroad. It provides a comprehensive picture of a country's economic production and income.
Methodology
GNI data for Colombia is collected and calculated by the World Bank based on national accounts information.
Historical Context
GNI is widely used by policymakers, international organizations, and analysts to assess a country's economic development and living standards relative to other nations.
Key Facts
- Colombia's GNI per capita was $6,430 in 2021.
- GNI growth in Colombia averaged 4.5% annually from 2000-2021.
- GNI is a broader measure of economic activity than GDP.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) for Colombia measures the total income earned by the country's residents and businesses, both domestically and abroad.
Q: Why is this trend relevant for users or analysts?
A: GNI provides a comprehensive picture of Colombia's economic production and living standards, making it a key metric for evaluating the overall health and development of the national economy.
Q: How is this data collected or calculated?
A: The World Bank collects and calculates GNI data for Colombia based on national accounts information.
Q: How is this trend used in economic policy?
A: GNI is widely used by policymakers, international organizations, and analysts to assess Colombia's economic development and living standards relative to other countries.
Q: Are there update delays or limitations?
A: GNI data for Colombia is typically published with a 1-2 year lag by the World Bank.
Related Trends
Use of Financial Services Borrowers: Persons Borrowing from Credit Unions and Financial Cooperatives for Colombia
COLFCRODUPENUM
Net Issues of International Debt Securities for Issuers in General Government Sector, All Maturities, Residence of Issuer in Colombia
IDSGAMRINICO
National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Colombia
COLNAEXKP06GYSAQ
Infra-Annual Labor Statistics: Employment Rate Female: From 15 to 64 Years for Colombia
COLLREM64FESTSAQ
Number of Identified Exporters to Colombia from South Carolina
SCCOLA475SCEN
Use of Financial Services, Liabilities: Outstanding Deposits by Households at Other Deposit Takers for Colombia
COLFCLODDHXDC
Citation
U.S. Federal Reserve, Gross National Income for Colombia (MKTGNICOA646NWDB), retrieved from FRED.