Costa Rica | Adjusted net national income (current US$)

Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion. Development relevance: Adjusted net national income is particularly useful in monitoring low-income, resource-rich economies, like many countries in Sub-Saharan Africa, because such economies often see large natural resources depletion as well as substantial exports of resource rents to foreign mining companies. For recent years adjusted net national income gives a picture of economic growth that is strikingly different from the one provided by GDP. The key to increasing future consumption and thus the standard of living lies in increasing national wealth - including not only the traditional measures of capital (such as produced and human capital), but also natural capital. Natural capital comprises such assets as land, forests, and subsoil resources. All three types of capital are key to sustaining economic growth. By accounting for the consumption of fixed and natural capital depletion, adjusted net national income better measures the income available for consumption or for investment to increase a country's future consumption. Limitations and exceptions: Adjusted net national income differs from the adjustments made in the calculation of adjusted net savings, by not accounting for investments in human capital or the damages from pollution. Thus, adjusted net national income remains within the boundaries of the United Nations System of National Accounts (SNA). The SNA includes non-produced natural assets (such as land, mineral resources, and forests) within the asset boundary when they are under the effective control of institutional units. The calculation of adjusted net national income, which accounts for net forest, energy, and mineral depletion, as well as consumption of fixed capital, thus remains within the SNA boundaries. This point is critical because it allows for comparisons across GDP, GNI, and adjusted net national income; such comparisons reveal the impact of natural resource depletion, which is otherwise ignored by the popular economic indicators. Statistical concept and methodology: Adjusted net national income complements gross national income (GNI) in assessing economic progress (Hamilton and Ley 2010) by providing a broader measure of national income that accounts for the depletion of natural resources. Adjusted net national income is calculated by subtracting from GNI a charge for the consumption of fixed capital (a calculation that yields net national income) and for the depletion of natural resources. The deduction for the depletion of natural resources, which covers net forest depletion, energy depletion, and mineral depletion, reflects the decline in asset values associated with the extraction and harvesting of natural resources. This is analogous to depreciation of fixed assets.
Publisher
The World Bank
Origin
Republic of Costa Rica
Records
63
Source
Costa Rica | Adjusted net national income (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 957386238.90703
1972 1083301661.0524
1973 1352300794.981
1974 1482388230.3993
1975 1725848279.9362
1976 2126199768.3291
1977 2734472325.1459
1978 3108632909.357
1979 3534650949.9931
1980 4194441180.0687
1981 2116888855.4279
1982 1996828345.6945
1983 2598510339.586
1984 3123495084.3019
1985 3397119007.3985
1986 3889212719.3201
1987 3973379823.7448
1988 4007769158.5682
1989 4544600731.1865
1990 5130328593.6323
1991 6586764262.4283
1992 7874461780.2433
1993 8835121117.9294
1994 9824704831.4636
1995 10811516140.467
1996 10937763668.597
1997 11802973072.351
1998 12670499209.753
1999 12875024105.354
2000 13443180352.448
2001 14310909849.174
2002 14824730375.161
2003 15445521242.368
2004 16692898661.664
2005 17981209227.695
2006 20647101396.297
2007 24613082797.578
2008 28464869693.511
2009 27922106706.908
2010 34286836984.129
2011 38850896564.538
2012 43145964404.404
2013 46374158062.854
2014 47166941923.331
2015 51139413619.999
2016 53343372587.492
2017 54100520235.983
2018 55659376522.366
2019 57459966626.198
2020 55281082435.661
2021 56532369847.645
2022

Costa Rica | Adjusted net national income (current US$)

Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion. Development relevance: Adjusted net national income is particularly useful in monitoring low-income, resource-rich economies, like many countries in Sub-Saharan Africa, because such economies often see large natural resources depletion as well as substantial exports of resource rents to foreign mining companies. For recent years adjusted net national income gives a picture of economic growth that is strikingly different from the one provided by GDP. The key to increasing future consumption and thus the standard of living lies in increasing national wealth - including not only the traditional measures of capital (such as produced and human capital), but also natural capital. Natural capital comprises such assets as land, forests, and subsoil resources. All three types of capital are key to sustaining economic growth. By accounting for the consumption of fixed and natural capital depletion, adjusted net national income better measures the income available for consumption or for investment to increase a country's future consumption. Limitations and exceptions: Adjusted net national income differs from the adjustments made in the calculation of adjusted net savings, by not accounting for investments in human capital or the damages from pollution. Thus, adjusted net national income remains within the boundaries of the United Nations System of National Accounts (SNA). The SNA includes non-produced natural assets (such as land, mineral resources, and forests) within the asset boundary when they are under the effective control of institutional units. The calculation of adjusted net national income, which accounts for net forest, energy, and mineral depletion, as well as consumption of fixed capital, thus remains within the SNA boundaries. This point is critical because it allows for comparisons across GDP, GNI, and adjusted net national income; such comparisons reveal the impact of natural resource depletion, which is otherwise ignored by the popular economic indicators. Statistical concept and methodology: Adjusted net national income complements gross national income (GNI) in assessing economic progress (Hamilton and Ley 2010) by providing a broader measure of national income that accounts for the depletion of natural resources. Adjusted net national income is calculated by subtracting from GNI a charge for the consumption of fixed capital (a calculation that yields net national income) and for the depletion of natural resources. The deduction for the depletion of natural resources, which covers net forest depletion, energy depletion, and mineral depletion, reflects the decline in asset values associated with the extraction and harvesting of natural resources. This is analogous to depreciation of fixed assets.
Publisher
The World Bank
Origin
Republic of Costa Rica
Records
63
Source