Gross National Income for Lao People's Democratic Republic
MKTGNILAA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,455,804,356.02
Year-over-Year Change
61.26%
Date Range
1/1/1984 - 1/1/2024
Summary
Gross National Income (GNI) for Lao People's Democratic Republic measures the total domestic and foreign income earned by the country's residents and businesses. It is a key indicator of economic well-being and development used by policymakers and economists.
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 total value of goods and services produced by a country's economy, including income earned by residents from overseas sources. It is an important metric for assessing the overall economic health and living standards of a nation.
Methodology
The data is collected and calculated by the World Bank using national accounts and survey information.
Historical Context
GNI data is used by international organizations, governments, and analysts to guide economic policies and development strategies.
Key Facts
- Lao PDR's GNI per capita was $2,540 in 2021.
- GNI growth averaged 6.8% annually from 2010-2020.
- Services account for the largest share of Lao PDR's GNI at 45%.
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.
Q: Why is this trend relevant for users or analysts?
A: GNI is a key indicator of economic well-being and development that is used by policymakers, economists, and international organizations to assess a country's overall economic health and living standards.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and survey information.
Q: How is this trend used in economic policy?
A: GNI data is used by governments, international organizations, and analysts to guide economic policies and development strategies.
Q: Are there update delays or limitations?
A: The World Bank publishes GNI data for Lao PDR with a lag of approximately one year.
Related Trends
Population ages 65 and above for the Lao People's Democratic Republic
SPPOP65UPTOZSLAO
Geographical Outreach: Number of Branches, Excluding Headquarters, for Commercial Banks for Lao People's Democratic Republic
LAOFCBODCNUM
Use of Financial Services Deposit Accounts: Accounts at Credit Unions and Financial Cooperatives for Lao People's Democratic Republic
LAOFCAODUNUM
Value of Exports to Lao People's Democratic Republic from Missouri
MOLAOA052SCEN
Geographical Outreach: Number of Institutions, Other Depository Corporations, Deposit Taking Microfinance Institutions (MFIs) for Lao People's Democratic Republic
LAOFCIODMFNUM
Credit to Government and State-Owned Enterprises to GDP for Lao People's Democratic Republic
DDEI08LAA156NWDB
Citation
U.S. Federal Reserve, Gross National Income for Lao People's Democratic Republic (MKTGNILAA646NWDB), retrieved from FRED.