Gross National Income for Jamaica
MKTGNIJMA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,504,364,078.38
Year-over-Year Change
33.52%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross National Income (GNI) for Jamaica measures the total domestic and foreign output claimed by residents of the country. It is a key indicator of economic well-being and a critical metric for policymakers and analysts assessing Jamaica's economic performance.
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
Gross National Income (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. This metric provides a comprehensive view of a country's economic activity and production capacity.
Methodology
The World Bank collects GNI data from national statistical agencies using the Atlas method to calculate the U.S. dollar conversion.
Historical Context
GNI is widely used by economists, policymakers, and international organizations to evaluate a country's economic development and living standards.
Key Facts
- Jamaica's GNI per capita was $5,260 in 2021.
- GNI accounts for over 90% of Jamaica's Gross Domestic Product.
- GNI growth has averaged 0.7% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) for Jamaica measures the total domestic and foreign output claimed by residents of the country, providing a comprehensive view of economic activity and production.
Q: Why is this trend relevant for users or analysts?
A: GNI is a critical metric for assessing a country's economic well-being, development, and living standards, making it highly relevant for policymakers, economists, and international organizations.
Q: How is this data collected or calculated?
A: The World Bank collects GNI data from national statistical agencies using the Atlas method to calculate the U.S. dollar conversion.
Q: How is this trend used in economic policy?
A: GNI data is widely used by economists, policymakers, and international organizations to evaluate a country's economic development, living standards, and overall economic performance.
Q: Are there update delays or limitations?
A: The GNI data for Jamaica is published annually by the World Bank, with a typical update delay of 6-12 months.
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Citation
U.S. Federal Reserve, Gross National Income for Jamaica (MKTGNIJMA646NWDB), retrieved from FRED.