Gross National Income for Singapore
MKTGNISGA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
458,396,552,098.32
Year-over-Year Change
62.57%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross National Income (GNI) for Singapore measures the total domestic and foreign output claimed by residents of Singapore. It is a key economic indicator used to assess the overall size and health of the Singaporean economy.
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 Singapore's economy, including income earned by Singaporean citizens and residents from overseas sources. It is an important metric for evaluating economic development and living standards in Singapore.
Methodology
GNI data is calculated by the World Bank using national accounts information provided by the Singapore Department of Statistics.
Historical Context
Singaporean policymakers and analysts closely monitor GNI trends to inform economic and fiscal policies.
Key Facts
- Singapore has one of the highest GNI per capita in the world.
- GNI growth is a key target in Singapore's economic development plans.
- GNI data helps assess Singapore's progress towards high-income country status.
FAQs
Q: What does this economic trend measure?
A: Gross National Income (GNI) for Singapore measures the total value of goods and services produced by the Singaporean economy, including income earned by residents from overseas sources.
Q: Why is this trend relevant for users or analysts?
A: GNI is a crucial indicator of a country's economic size, development, and living standards, making it highly relevant for policymakers, investors, and economists analyzing the Singaporean economy.
Q: How is this data collected or calculated?
A: The World Bank calculates Singapore's GNI using national accounts data provided by the Singapore Department of Statistics.
Q: How is this trend used in economic policy?
A: Singaporean policymakers and analysts closely monitor GNI trends to inform economic and fiscal policies aimed at promoting sustainable growth and development.
Q: Are there update delays or limitations?
A: GNI data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross National Income for Singapore (MKTGNISGA646NWDB), retrieved from FRED.