GNIpercapita

GNI per capita is a key economic indicator that represents a country's gross national income divided by its total population. Gross National Income (GNI) is the sum of a nation's gross domestic product (GDP) and the net income received from abroad. This includes income earned by citizens and businesses from overseas investments and remittances, minus income paid to non-residents and foreign businesses. Therefore, GNI per capita provides a measure of the average income of individuals in a country, taking into account both domestic production and income flows from international sources.

It is often used as a proxy for the standard of living within a nation. A higher GNI per capita generally suggests that the average citizen has a greater purchasing power and access to goods and services. However, it is important to note that GNI per capita is an average and does not reflect the income distribution within a country. Significant income inequality can mean that a large portion of the population earns considerably less than the per capita average. This metric is widely used by international organizations like the World Bank to classify countries into different income groups, such as low-income, lower-middle-income, upper-middle-income, and high-income economies. These classifications help in understanding a country's economic development status and in guiding policy decisions and aid allocation.