Gross National Income for Barbados
MKTGNIBBA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,871,000,000.00
Year-over-Year Change
34.76%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross National Income (GNI) for Barbados measures the total domestic and foreign output claimed by residents of the country. It is a key indicator of economic activity 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 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 measure of the country's economic performance and development.
Methodology
The World Bank compiles GNI data for Barbados based on national accounts information reported by the country.
Historical Context
GNI is used by policymakers, economists, and investors to assess the overall health and growth trajectory of Barbados' economy.
Key Facts
- Barbados' GNI was $5.4 billion in 2021.
- GNI per capita in Barbados was $18,790 in 2021.
- Barbados has seen steady GNI growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) for Barbados measures the total domestic and foreign output claimed by the residents of the country.
Q: Why is this trend relevant for users or analysts?
A: GNI is a comprehensive indicator of a country's economic performance and living standards, making it highly relevant for policymakers, economists, and investors analyzing the Barbados economy.
Q: How is this data collected or calculated?
A: The World Bank compiles GNI data for Barbados based on national accounts information reported by the country.
Q: How is this trend used in economic policy?
A: GNI is used by policymakers, economists, and investors to assess the overall health and growth trajectory of Barbados' economy, informing economic and development strategies.
Q: Are there update delays or limitations?
A: The GNI data for Barbados is published annually by the World Bank with a short delay, providing a reliable indicator of the country's economic performance.
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Citation
U.S. Federal Reserve, Gross National Income for Barbados (MKTGNIBBA646NWDB), retrieved from FRED.