Dominica - Adjusted net national income (current US$)

The latest value for Adjusted net national income (current US$) in Dominica was 485,974,700 as of 2019. Over the past 39 years, the value for this indicator has fluctuated between 485,974,700 in 2019 and 70,471,660 in 1980.

Definition: Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.

Source: World Bank staff estimates based on sources and methods described in "The Changing Wealth of Nations 2018: Building a Sustainable Future" (Lange et al 2018).

See also:

Year Value
1980 70,471,660
1981 79,623,450
1982 86,433,620
1983 94,528,300
1984 102,752,500
1985 112,166,800
1986 127,350,600
1987 143,803,600
1988 163,216,800
1989 173,621,700
1990 187,603,000
1991 201,094,900
1992 214,958,500
1993 227,114,300
1994 240,439,400
1995 248,718,900
1996 260,555,700
1997 271,341,100
1998 289,400,500
1999 288,105,000
2000 277,062,700
2001 292,781,700
2002 282,290,300
2003 292,963,900
2004 307,160,300
2005 307,265,500
2006 342,297,500
2007 364,043,000
2008 395,873,600
2009 411,264,800
2010 412,670,000
2011 400,921,600
2012 381,891,000
2013 399,606,200
2014 423,941,200
2015 436,942,400
2016 481,601,600
2017 433,209,800
2018 469,531,100
2019 485,974,700

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.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts