Uruguay | 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
Eastern Republic of Uruguay
Records
63
Source
Uruguay | Adjusted net national income (current US$)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 2679188200.8071
1972 2077122062.8693
1973 3539876429.7227
1974 3880238984.451
1975 3281115010.8973
1976 3393734944.3884
1977 3818084012.2468
1978 4552127256.2474
1979 6714805665.8943
1980 9203584924.4998
1981 10388031369.222
1982 8477695538.8832
1983 4600242444.461
1984 4298183252.8098
1985 4210286916.5382
1986 5456824048.4187
1987 6980946195.4654
1988 7780072129.0077
1989 7960956448.6049
1990 8788558395.1677
1991 10780303554.155
1992 12537970059.051
1993 14624192052.233
1994 17054256977.274
1995 18776780019.194
1996 20045656784.169
1997 23505278083.407
1998 24869884096.574
1999 23480149673.204
2000 22241204165.187
2001 20317738775.609
2002 13261092824.443
2003 11190022648.796
2004 12724719819.487
2005 16453137930.527
2006 18703936864.652
2007 22425309075.68
2008 28829964738.34
2009 29681897235.459
2010 37529747665.016
2011 44503992102.935
2012 44924232763.689
2013 51418560440.568
2014 50381478532.975
2015 47804269388.537
2016 51033428049.702
2017 56662079899.08
2018 56354808943.293
2019 54062376813.408
2020 46847647419.156
2021 49994553832.217
2022

Uruguay | 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
Eastern Republic of Uruguay
Records
63
Source