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When calculating gross national income (GNI) in an open economy, we adjust gross national expenditure (GNE) by adding in net income earned from foreign sources (NFIA) plus net unilateral transfers (NUT) from abroad.
The total amount of money that a country's citizens and businesses make is known as its gross national income (GNI). It is employed to gauge and keep track of a country's wealth over time. The total includes the country's gross domestic product (GDP) as well as the money it receives from abroad.
The GDP, which is a more commonly used term, is a calculation of the estimated total value of all goods and services produced in a country over a specific time period, typically a year. As a substitute for the gross domestic product (GDP), the gross national income (GNI) is regarded by some countries as being a more reliable indicator of a country's wealth.
Learn more about Gross National Income (GNI), here
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