Gross National Income per capita refers to the total income generated by a country's residents, including domestic and international sources, divided by the population. It is an indicator of the overall economic well-being of a nation.
Related terms
GDP per capita: This term refers to Gross Domestic Product (GDP) divided by the population and measures only domestic economic activities.
Purchasing Power Parity (PPP): PPP takes into account differences in living costs between countries when comparing their GNI or GDP. It helps determine relative standards of living across nations.
Development Index: A measure that combines various indicators, including GNI per capita, life expectancy, education levels, and others to assess a country's level of development.