The Gross national income of Argentina attained a value of USD 486,798.73 million in 2023
The indicator recorded a historical growth (CAGR) of 9.04% between 2020 to 2023, and is expected to decline by...
GlobalData projects the figure to decline at a CAGR of ...
Gross National Income
Gross National Income (GNI) is GDP less net taxes on production and imports, less employee remuneration, and less property income owed to the rest of the world, plus the comparable items receivable from the rest of the world (in other words, GDP less primary incomes payable to non-resident units plus primary incomes receivable from non-resident units). GNI may also be calculated as the sum of the gross primary income balances for all sectors as an alternative to calculating it at market prices.
Gross National Income of Argentina
The gross national income of Argentina attained a value of $396 billion in 2021. The indicator recorded a year-on-year increase of 7.7% in 2021. Between 2018-2021, the indicator recorded a decrease of 20.5%. The gross national income of the country was highest in 2018 and lowest in 2020, between 2018 and 2021.
Global Outlook
The United States, China, Japan, Germany, and the United Kingdom are the top five nations in the world in terms of gross national income in 2021. Some of the nations with the lowest gross national incomes were North Macedonia, Malta, Albania, Botswana, and Bosnia and Herzegovina in 2021.
Factors Affecting the Global Economy
Impact of COVID-19:
Omicron, a novel COVID-19 strain that has disrupted supply chain management, has been linked to other cases around the world. Nevertheless, the global vaccination campaign has reduced COVID-19 mortality.
Russia-Ukraine war:
The war between Russia and Ukraine has hindered global economic growth. Trade and investment have suffered as a result of the war since Russia has been subject to economic sanctions and some large firms have stopped doing business there.
Rising Inflation and Interest Rates:
In order to prevent prices from rising, central banks have been compelled to tighten monetary policy and raise interest rates as a result of growing inflation rates in both developing and established economies. A persistent rise in interest rates, however, could cause financial distress in some countries.
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