Iceland vs Somalia: GNI, PPP
GNI, PPP over time
- Iceland
- Somalia
How they compare
Somalia currently reports 27.87 billion constant 2021 international $ against 26.05 billion constant 2021 international $ in Iceland, a difference of 1.82 billion constant 2021 international $.
That makes Somalia's figure about 1.1 times Iceland's.
The two have swapped places 3 times across 12 shared years of data; in 2013 it was Iceland ahead.
Globally, Iceland ranks 131st and Somalia ranks 128th of 158 countries.
Individual pages
About this data
This indicator provides values for gross national income (GNI) expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross national income is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.