South Africa - Adjusted net national income (constant 2010 US$)

The latest value for Adjusted net national income (constant 2010 US$) in South Africa was 299,811,000,000 as of 2019. Over the past 48 years, the value for this indicator has fluctuated between 299,811,000,000 in 2019 and 76,873,340,000 in 1971.

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
1971 76,873,340,000
1972 80,555,880,000
1973 91,752,920,000
1974 96,652,820,000
1975 91,165,080,000
1976 89,545,730,000
1977 88,921,370,000
1978 93,290,150,000
1979 96,136,250,000
1980 105,896,000,000
1981 106,476,000,000
1982 106,867,000,000
1983 109,052,000,000
1984 118,494,000,000
1985 111,220,000,000
1986 109,188,000,000
1987 117,094,000,000
1988 121,455,000,000
1989 125,109,000,000
1990 126,086,000,000
1991 128,844,000,000
1992 131,380,000,000
1993 138,786,000,000
1994 142,366,000,000
1995 149,620,000,000
1996 155,614,000,000
1997 160,284,000,000
1998 161,705,000,000
1999 163,877,000,000
2000 172,189,000,000
2001 175,745,000,000
2002 189,627,000,000
2003 200,743,000,000
2004 209,155,000,000
2005 223,503,000,000
2006 237,828,000,000
2007 246,004,000,000
2008 237,941,000,000
2009 249,289,000,000
2010 258,072,000,000
2011 265,090,000,000
2012 269,187,000,000
2013 273,618,000,000
2014 277,844,000,000
2015 287,344,000,000
2016 286,772,000,000
2017 294,102,000,000
2018 296,009,000,000
2019 299,811,000,000

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.

Aggregation method: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts