The GNI of the Philippines is almost as high as its GDP because:
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Accounting for GNI is much easier than accounting for GDP in an archipelago. |
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The government enforces strong economic protections for the lower class. |
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Its overseas worker population sends back considerable remittances to family members. |
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GNI and GDP measure the same thing. |
Its overseas worker population sends back considerable remittances to family members.
(Philippines' economy is highly based on remittances. Its oversees worker population sends back considerable remittances due to which its GNI is almost as high as its GDP)
The GNI of the Philippines is almost as high as its GDP because: Accounting for GNI...