Australia | GNI, Atlas method (current US$)
GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. Development relevance: Because development encompasses many factors - economic, environmental, cultural, educational, and institutional - no single measure gives a complete picture. However, the total earnings of the residents of an economy, measured by its gross national income (GNI), is a good measure of its capacity to provide for the well-being of its people. Statistical concept and methodology: In calculating GNI and GNI per capita in U.S. dollars for certain operational purposes, the World Bank uses the Atlas conversion factor. The purpose of the Atlas conversion factor is to reduce the impact of exchange rate fluctuations in the cross-country comparison of national incomes. The Atlas conversion factor for any year is the average of a country's exchange rate (or alternative conversion factor) for that year and its exchange rates for the two preceding years, adjusted for the difference between the rate of inflation in the country and that in Japan, the United Kingdom, the United States, and the Euro area. A country's inflation rate is measured by the change in its GDP deflator. The inflation rate for Japan, the United Kingdom, the United States, and the Euro area, representing international inflation, is measured by the change in the SDR deflator. (Special drawing rights, or SDRs, are the International Monetary Fund's unit of account.) The SDR deflator is calculated as a weighted average of these countries' GDP deflators in SDR terms, the weights being the amount of each country's currency in one SDR unit. Weights vary over time because both the composition of the SDR and the relative exchange rates for each currency change. The SDR deflator is calculated in SDR terms first and then converted to U.S. dollars using the SDR to dollar Atlas conversion factor. The Atlas conversion factor is then applied to a country's GNI. The resulting GNI in U.S. dollars is divided by the midyear population to derive GNI per capita. The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. An alternative conversion factor is used in the Atlas formula when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.
Publisher
The World Bank
Origin
Commonwealth of Australia
Records
63
Source
Australia | GNI, Atlas method (current US$)
1960
1961
1962 20130883658.597
1963 21577086216.806
1964 23523283363.716
1965 25870277044.916
1966 27329287395.636
1967 29959486315.738
1968 32792159122.327
1969 36512030486.481
1970 40943087735.459
1971 44927802097.069
1972 51221000320.471
1973 62230718042.094
1974 81629704296.234
1975 100308212209.45
1976 110395045421.15
1977 114695866460.93
1978 121601454308.76
1979 139279024204.11
1980 159099093888.63
1981 177119644552.18
1982 183349933560.36
1983 178091594767.97
1984 186981147833.44
1985 189363782503.02
1986 197128240834.13
1987 204296613939.69
1988 233712831537.29
1989 262330451359.41
1990 295990438614.37
1991 315263131853.47
1992 324593427432.08
1993 334186503267.12
1994 337011243711.58
1995 348743889864.54
1996 375213035158.25
1997 406392637730.18
1998 407958880081.9
1999 406509912451.3
2000 405356301597.44
2001 391827628836.53
2002 393994724136.63
2003 421653243727.34
2004 515189233387.26
2005 620293337423.25
2006 707654329250.76
2007 778775313069.89
2008 901128508480.75
2009 956570964737.62
2010 1030093294356.1
2011 1126187841988.6
2012 1370648411453.6
2013 1528597111568.8
2014 1531470609749.5
2015 1441970852029.3
2016 1309602091467.7
2017 1267317119167.6
2018 1326718058774.4
2019 1392623917216.7
2020 1375625621152.5
2021 1470330517620.1
2022 1582213831304
Australia | GNI, Atlas method (current US$)
GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States. Development relevance: Because development encompasses many factors - economic, environmental, cultural, educational, and institutional - no single measure gives a complete picture. However, the total earnings of the residents of an economy, measured by its gross national income (GNI), is a good measure of its capacity to provide for the well-being of its people. Statistical concept and methodology: In calculating GNI and GNI per capita in U.S. dollars for certain operational purposes, the World Bank uses the Atlas conversion factor. The purpose of the Atlas conversion factor is to reduce the impact of exchange rate fluctuations in the cross-country comparison of national incomes. The Atlas conversion factor for any year is the average of a country's exchange rate (or alternative conversion factor) for that year and its exchange rates for the two preceding years, adjusted for the difference between the rate of inflation in the country and that in Japan, the United Kingdom, the United States, and the Euro area. A country's inflation rate is measured by the change in its GDP deflator. The inflation rate for Japan, the United Kingdom, the United States, and the Euro area, representing international inflation, is measured by the change in the SDR deflator. (Special drawing rights, or SDRs, are the International Monetary Fund's unit of account.) The SDR deflator is calculated as a weighted average of these countries' GDP deflators in SDR terms, the weights being the amount of each country's currency in one SDR unit. Weights vary over time because both the composition of the SDR and the relative exchange rates for each currency change. The SDR deflator is calculated in SDR terms first and then converted to U.S. dollars using the SDR to dollar Atlas conversion factor. The Atlas conversion factor is then applied to a country's GNI. The resulting GNI in U.S. dollars is divided by the midyear population to derive GNI per capita. The World Bank systematically assesses the appropriateness of official exchange rates as conversion factors. An alternative conversion factor is used in the Atlas formula when the official exchange rate is judged to diverge by an exceptionally large margin from the rate effectively applied to domestic transactions of foreign currencies and traded products. This applies to only a small number of countries, as shown in the country-level metadata. Alternative conversion factors are used in the Atlas methodology and elsewhere in World Development Indicators as single-year conversion factors.
Publisher
The World Bank
Origin
Commonwealth of Australia
Records
63
Source