Gross National Income for Solomon Islands
MKTGNISBA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,762,426,119.21
Year-over-Year Change
56.24%
Date Range
1/1/1972 - 1/1/2024
Summary
Gross National Income (GNI) for Solomon Islands measures the total income earned by the country's residents and businesses, both within the country and abroad. It is a key indicator of economic performance and national wealth.
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 value of all goods and services produced by a country's residents, regardless of their location. It is a broader measure than Gross Domestic Product (GDP), as it includes income earned by Solomon Islanders living and working overseas.
Methodology
GNI data for Solomon Islands is collected and reported annually by the World Bank.
Historical Context
GNI is used by policymakers, international organizations, and analysts to assess the overall economic health and development progress of Solomon Islands.
Key Facts
- GNI per capita for Solomon Islands was $2,170 in 2020.
- GNI has grown by an average of 3.2% annually over the past decade.
- Agriculture and fishing account for over 30% of Solomon Islands' GNI.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) for Solomon Islands measures the total income earned by the country's residents and businesses, both within the country and abroad.
Q: Why is this trend relevant for users or analysts?
A: GNI is a key indicator of a country's economic performance and national wealth, providing a broader perspective than just domestic production.
Q: How is this data collected or calculated?
A: GNI data for Solomon Islands is collected and reported annually by the World Bank.
Q: How is this trend used in economic policy?
A: GNI is used by policymakers, international organizations, and analysts to assess the overall economic health and development progress of Solomon Islands.
Q: Are there update delays or limitations?
A: GNI data for Solomon Islands is reported annually with a slight delay, typically 1-2 years behind the current year.
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Citation
U.S. Federal Reserve, Gross National Income for Solomon Islands (MKTGNISBA646NWDB), retrieved from FRED.