Latin America & the Caribbean (IDA & IBRD countries) | 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
Latin America & the Caribbean (IDA & IBRD countries)
Records
63
Source
Latin America & the Caribbean (IDA & IBRD countries) | Adjusted net national income (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970 143248492105.67
1971 161427820678.25
1972 180461262729.21
1973 238202478808.99
1974 305306469055.6
1975 318460619575.63
1976 352378118264.03
1977 388659682983.33
1978 436441732290.88
1979 506332728687.7
1980 605218080824.11
1981 704047939855.07
1982 643292274133.85
1983 546442205133.69
1984 546735034827.26
1985 540139775989.69
1986 552087930749.11
1987 578479828057.99
1988 657682721990.33
1989 722016959567.12
1990 841256569803.41
1991 937815090817.27
1992 1036619839245.6
1993 1217803129296.2
1994 1425631612328.3
1995 1546712998138.7
1996 1690996041908.9
1997 1853819586443
1998 1858435497424.1
1999 1635482857816.6
2000 1795876158495.1
2001 1754074607192.4
2002 1546986615396.2
2003 1558237641157.8
2004 1785698582329.1
2005 2155276253998
2006 2548878998853.3
2007 3050958855465.3
2008 3548588872583.3
2009 3326171125666.4
2010 4101293947076.3
2011 4586119011816.5
2012 4599178385649.1
2013 4755991547982
2014 4853493434673.1
2015 4113840741156.7
2016 3986050353537.6
2017 4460018204980.9
2018 4297608746775.3
2019 4246075820779.4
2020 3577793038158.1
2021 4003923362849.6
2022

Latin America & the Caribbean (IDA & IBRD countries) | 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
Latin America & the Caribbean (IDA & IBRD countries)
Records
63
Source