What is gross national income?

Business & Management
#1

Gross national income is an alternative to gross national product as a measure of wealth. It calculates income instead of output. GNI can be calculated by adding income from foreign sources to gross domestic product.The gross national income, previously known as gross national product, is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product, plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents.