GNI per capita, PPP (constant 2021 international $)

This economic indicator provides an in-depth view of the average income per person within a nation, adjusted for differences in purchasing power across countries. By using 2017 as a base year, it reflects the real value of income, eliminating the effects of inflation, enabling meaningful comparisons over time and between nations. The measure accounts for the gross national income, which includes the total income generated by residents, encompasses taxes on products (minus any subsidies), and includes net income received from abroad. This metric is essential for understanding living standards and economic wellbeing, as it emphasizes the purchasing capabilities of individuals within their local context, serving as a vital tool for policymakers and economists to evaluate economic health and development strategies. Source: