Gross National Income

Gross national income, or GNI, formerly known as gross national product, measures the total income earned by the residents of a country, whether that income comes from domestic production or from abroad. It differs from gross domestic product, which measures output produced within a country's borders regardless of who owns it, because GNI is calculated by taking GDP and adding income residents receive from abroad while subtracting income paid out to non-residents. The European Union bases much of its budget contributions on GNI figures, and countries sometimes turn to adjusted versions of the measure, such as Ireland's Modified GNI, when standard GDP is distorted by multinational corporate activity.