GDP vs GNI vs wealth, how would you rank them?

[The Notorious SLAV]

Title.

Ranked: 25 Richest Countries in the World, by Three Metrics

See how GDP, GNI, and median wealth reshuffle the 25 richest countries, revealing where prosperity is produced, and where it really stays.

www.visualcapitalist.com

I'd say for most scenarios, GNI per capita is more important than GDP per capita, as small as that difference is most of the time. Both of those then are by default more important than median wealth, since income in general tends to beat wealth for stuff like living standards and so on, though it definitely is an important footnote, at the very least, for the former two (am from a country that tends to underperform on wealth measures compared to our GNI and GDP, and I can confirm it definitely seems to make a difference IRL.)

 

[Moth Knight]

None of them. HDI is the best metric for development.

 

[Moth Knight]

But median wealth is the best of the 3 listed.

 

[The Notorious SLAV]

None of them. HDI is the best metric for development.

Fair enough, though I have to point out that the UN switched GDP per capita for GNI per capita when calculating HDI, so that supports the idea that it's, even if slightly, a better measure to calculate it, and I'd say it's relatively much more important than the other two used to calculate it.

 

[SmhChan]

A higher value for median wealth good or bad?

 

[The Notorious SLAV]

A higher value for median wealth good or bad?

It means that the citizens of a country are able to accumulate wealth, or their properties are rising in value (depending on whether their wealth is mostly tied to finances or real estate) instead of having to mostly spend their incomes, so yeah, it's pretty good.

 

[RandomGuy]

What about Africa?

 

[The Notorious SLAV]

What about Africa?

Doesn't really matter for them since they are at the bottom by all three measures unfortunately. Though for Third World countries like them, GDP and GNI actually often produce notably different results, because of the amounts of their citizens who are making money abroad which gets counted in the latter and not the former.