Marshall Islands - GNI, PPP (current international $)

The latest value for GNI, PPP (current international $) in Marshall Islands was 299,501,400 as of 2020. Over the past 25 years, the value for this indicator has fluctuated between 305,418,300 in 2019 and 145,519,100 in 1997.

Definition: PPP GNI (formerly PPP GNP) is gross national income (GNI) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GNI as a U.S. dollar has in the United States. Gross national income is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current international dollars. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).

Source: World Bank, International Comparison Program database.

See also:

Year Value
1995 172,327,100
1996 151,049,400
1997 145,519,100
1998 150,869,700
1999 154,691,000
2000 161,332,500
2001 174,675,600
2002 179,587,600
2003 180,710,600
2004 187,565,400
2005 203,078,800
2006 203,675,600
2007 217,409,600
2008 200,989,200
2009 212,030,600
2010 220,474,100
2011 223,508,900
2012 211,428,500
2013 231,932,100
2014 244,371,000
2015 270,479,700
2016 267,704,300
2017 277,015,000
2018 291,196,900
2019 305,418,300
2020 299,501,400

Development Relevance: Because development encompasses many factors - economic, environmental, cultural, educational, and institutional - no single measure gives a complete picture. However, the total earnings of the residents of an economy, measured by its gross national income (GNI), is a good measure of its capacity to provide for the well-being of its people.

Statistical Concept and Methodology: Because exchange rates do not always reflect differences in price levels between countries, GNI and GNI per capita estimates are converted into international dollars using purchasing power parity (PPP) rates. PPP rates provide a standard measure allowing comparison of real levels of expenditure between countries, just as conventional price indexes allow comparison of real values over time. PPP rates are calculated by simultaneously comparing the prices of similar goods and services among a large number of countries. In the most recent round of price surveys conducted by the International Comparison Program (ICP) in 2011, 199 economies participated. The PPP conversion factors come from three sources. For 47 high- and upper middle-income countries conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD). For the remaining 2011 ICP countries the PPP estimates are extrapolated from the 2011 ICP benchmark results, which account for relative price changes between each economy and the United States. For countries that did not participate in the 2011 ICP round, the PPP estimates are imputed using a statistical model. More information on the results of the 2011 ICP is available at www.worldbank.org/data/icp.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Purchasing power parity