Gross National Income for Ecuador
MKTGNIECA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121,339,483,500.00
Year-over-Year Change
40.33%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross National Income (GNI) for Ecuador measures the total value of goods and services produced by the Ecuadorian economy, including income earned by Ecuadorian citizens abroad. It is a key indicator of a country's economic performance and standard of living.
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 activity and is widely used by economists and policymakers to assess economic growth and development.
Methodology
GNI data for Ecuador is collected and calculated by the World Bank based on national accounts information.
Historical Context
Trends in Ecuador's GNI are closely monitored by economists and policymakers to inform economic and social policies.
Key Facts
- Ecuador's GNI was $108.9 billion in 2021.
- GNI per capita in Ecuador was $6,040 in 2021.
- Ecuador's GNI has grown at an average annual rate of 3.4% over the past decade.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) for Ecuador measures the total value of goods and services produced by the Ecuadorian economy, including income earned by Ecuadorian citizens abroad.
Q: Why is this trend relevant for users or analysts?
A: GNI is a key indicator of a country's economic performance and standard of living, providing a comprehensive picture of Ecuador's economic activity that is widely used by economists and policymakers.
Q: How is this data collected or calculated?
A: GNI data for Ecuador is collected and calculated by the World Bank based on national accounts information.
Q: How is this trend used in economic policy?
A: Trends in Ecuador's GNI are closely monitored by economists and policymakers to inform economic and social policies.
Q: Are there update delays or limitations?
A: GNI data is typically published with a lag, and there may be limitations in data collection or comparability across countries.
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Citation
U.S. Federal Reserve, Gross National Income for Ecuador (MKTGNIECA646NWDB), retrieved from FRED.