Grenada - GNI, PPP (current international $)

The latest value for GNI, PPP (current international $) in Grenada was 1,737,970,000 as of 2020. Over the past 30 years, the value for this indicator has fluctuated between 1,778,871,000 in 2019 and 435,862,500 in 1990.

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
1990 435,862,500
1991 466,280,400
1992 475,594,000
1993 472,411,400
1994 490,791,200
1995 505,358,000
1996 535,953,600
1997 572,162,900
1998 640,588,200
1999 692,884,100
2000 734,808,600
2001 724,132,400
2002 753,881,900
2003 843,000,500
2004 838,101,400
2005 1,053,515,000
2006 1,041,582,000
2007 1,119,875,000
2008 1,155,463,000
2009 1,052,844,000
2010 1,094,309,000
2011 1,138,673,000
2012 1,148,162,000
2013 1,240,710,000
2014 1,291,199,000
2015 1,369,168,000
2016 1,505,364,000
2017 1,603,814,000
2018 1,733,381,000
2019 1,778,871,000
2020 1,737,970,000

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