National Income and Product Accounts (NIPA)

National Income and Product Accounts (NIPA) are a set of economic data that measure the overall economic performance of a country. They provide key statistics, such as Gross Domestic Product (GDP), which reflects the total value of goods and services produced, and Gross National Income (GNI), which includes income earned by residents regardless of location. NIPA helps policymakers, businesses, and researchers understand economic trends, evaluate growth, and formulate economic policy. By tracking income and production, it provides a comprehensive picture of a nation's economic health, guiding decisions that impact society and the economy.