The Gross national income of Turkey attained a value of 732,512.56 Millions in 2021
The indicator recorded a historical decline (CAGR) of 1.19% between 2018 to 2021, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
Gross National Income
GDP less net taxes on production and imports, less employee compensation and property income owed to the rest of the world, plus the comparable items receivable from the rest of the world, is known as gross national income (GNI) (in other words, GDP less primary incomes payable to non-resident units plus primary incomes receivable from non-resident units). As an alternative to calculating GNI at market prices, consider the sum of the gross primary income balances for all sectors.
Gross National Income of Turkey
The gross national income of Turkey attained a value of $732 billion in 2021. The indicator recorded a year-on-year increase of 4.5% in 2021. Between 2018-2021, the indicator recorded a decrease of 3.5%. 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 among the top five countries with the largest gross national incomes in the world in 2021. Bosnia and Herzegovina, North Macedonia, Malta, Albania, Botswana, and Albania were among the nations with the lowest gross national incomes globally in 2021.
Factors Affecting the Global Economy
Impact of COVID-19:
Globally, more occurrences of Omicron, a novel COVID-19 strain that has disrupted supply chain management, have been noted. The global vaccination campaign has, however, reduced COVID-19 mortality.
Russia-Ukraine war:
The crisis between Russia and Ukraine is preventing global economic growth. Trade and investment have suffered as a result of the conflict since Russia has been subject to economic sanctions and numerous large firms have stopped doing business there.
Rising Inflation and Interest Rates:
Central banks have been compelled to tighten monetary policy and raise interest rates in order to prevent price increases as a result of growing inflation rates in both developing and established economies. However, a consistent rise in interest rates may cause financial distress in some countries.
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