Development

Getting the GDP right

GNI and GDP

  • GNI < GDP: Nationals produce much less than it is produced in the country.
  • GDP > GNI: Nationals produce much more than it is produced in the country.
Table 1: Countries with largest difference between GDP and GNP per capita | Source: World Bank
YearCountryGNPcapGDPcap% diff
2006Congo, Rep.135133361.47
2010Equatorial Guinea19742347320.76
2017Cayman Islands41639694210.67
2018Luxembourg724761141100.57
2011Puerto Rico21674332250.53
2015Ireland54474712430.31
2000Angola367447070.28
2003Chad88111120.26
2011Gabon11978148820.24
2015Marshall Islands47813625-0.24
2007Lesotho28272077-0.27
2017Nauru1495410682-0.29
2017Tuvalu55833904-0.30
2015Kiribati44952174-0.52
2008Timor-Leste104652522-0.76

We can search for different GDPs

wb_search("gdp.*capita")
## # A tibble: 32 × 3
##    indicator_id         indicator                  indicator_desc               
##    <chr>                <chr>                      <chr>                        
##  1 5.51.01.10.gdp       Per capita GDP growth      "GDP per capita is the sum o…
##  2 6.0.GDPpc_constant   GDP per capita, PPP (cons… "GDP per capita based on pur…
##  3 GB.XPD.RSDV.GD.ZS    Research and development … "Gross domestic expenditures…
##  4 GFDD.DM.01           Stock market capitalizati… "Value of listed shares to G…
##  5 GFDD.DM.02           Stock market total value … "Total value of all traded s…
##  6 NE.GDI.FPUB.ZS       Gross public investment (… "Gross public investment (se…
##  7 NE.GDI.FTOT.CR       GDP expenditure on gross … "Gross fixed capital formati…
##  8 NE.GDI.FTOT.SNA08.CR GDP expenditure on gross …  <NA>                        
##  9 NV.AGR.PCAP.KD.ZG    Real agricultural GDP per… "The growth rate of real per…
## 10 NY.GDP.PCAP.CD       GDP per capita (current U… "GDP per capita is gross dom…
## # … with 22 more rows

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