Finland | Adjusted net national income (constant 2015 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. Growth rates of adjusted net national income are computed from constant price series deflated using the gross national expenditure (formerly domestic absorption) deflator.
Publisher
The World Bank
Origin
Republic of Finland
Records
63
Source
Finland | Adjusted net national income (constant 2015 US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 73664686142.428
1971 74347058392.654
1972 79811463744.29
1973 85039850866.606
1974 85492342528.542
1975 84542740786.632
1976 86463165384.816
1977 84932264992.071
1978 88148477684.947
1979 95147647558.845
1980 97241794871.3
1981 98757472961.558
1982 101786614892.21
1983 104248864923.01
1984 109228889879.4
1985 112438359151.12
1986 117377331680.63
1987 121194927352.24
1988 129199827661.24
1989 132758620551.58
1990 129775636984.63
1991 116909904987.87
1992 110590019445.16
1993 108883568143.13
1994 116687324844.73
1995 130302606309.54
1996 134745324096.17
1997 146075288890.8
1998 155754276646.66
1999 163123683584.45
2000 170330678929.83
2001 176049658616.07
2002 178515562097.89
2003 177818073378.3
2004 186141337406.63
2005 187763896355.93
2006 194162320061.79
2007 202843710790.89
2008 200749901287.91
2009 184267450372.34
2010 190568130931.79
2011 192448828477.33
2012 187769762110.44
2013 186617353414.38
2014 188539725167.14
2015 192298193179.65
2016 196883697213.14
2017 202345008716.78
2018 205703375921.97
2019 207370824489.88
2020 205172783072.59
2021 213624239996.25
2022

Finland | Adjusted net national income (constant 2015 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. Growth rates of adjusted net national income are computed from constant price series deflated using the gross national expenditure (formerly domestic absorption) deflator.
Publisher
The World Bank
Origin
Republic of Finland
Records
63
Source