Americas's BEST 7 Countries | Adjusted Net National Income Per Capita (Current US$)

Region: Americas'
Countries: 214
Time: 1970 - 2021
Years: 46
Periodicity: Annual

Source: World Bank staff estimates based on sources and methods in World Bank's "The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium" (2011).
Data from database: World Development Indicators
Topic: Economic Policy & Debt: National accounts: Adjusted savings & income
Indicator Name: Adjusted net national income per capita (current US$)
Long definition: Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.
Aggregation method: Weighted average
Data Source URL: https://databank.worldbank.org/
Data Last Updated: 03/28/2024

Visual Made by: Biddrup Mallick
App: https://app.flourish.studio/

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.

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.

Country Code Used by the World Bank

St. Vincent and the Grenadines = VCT
Sint Maarten (Dutch part) = SXM
Central African Republic = CAF
Northern Mariana Islands = MNP
St. Martin (French part) = MAF
Turks and Caicos Islands = TCA
Bosnia and Herzegovina = BIH
British Virgin Islands = VGB
Micronesia, Fed. Sts. = FSM
Sao Tome and Principe = STP
Virgin Islands (U.S.) = VIR
Hong Kong SAR, China = HKG
Syrian Arab Republic = SYR
United Arab Emirates = ARE
Antigua and Barbuda = ATG
St. Kitts and Nevis = KNA
Trinidad and Tobago = TTO
Dominican Republic = DOM
Iran, Islamic Rep. = IRN
Russian Federation = RUS
West Bank and Gaza = PSE
Brunei Darussalam = BRN
Equatorial Guinea = GNQ
Congo, Dem. Rep. = COD
Egypt, Arab Rep. = EGY
French Polynesia = PYF
Macao SAR, China = MAC
Marshall Islands = MHL
Papua New Guinea = PNG
Kyrgyz Republic = KGZ
North Macedonia = MKD
Slovak Republic = SVK
Solomon Islands = SLB
American Samoa = ASM
Cayman Islands = CYM
United Kingdom = GBR
Cote d'Ivoire = CIV
Faroe Islands = FRO
Guinea-Bissau = GNB
Liechtenstein = LIE
New Caledonia = NCL
United States = USA
Venezuela, RB = VEN
Bahamas, The = BHS
Burkina Faso = BFA
Saudi Arabia = SAU
Sierra Leone = SLE
South Africa = ZAF
Turkmenistan = TKM
Afghanistan = AFG
Congo, Rep. = COG
El Salvador = SLV
Gambia, The = GMB
Isle of Man = IMN
Korea, Rep. = KOR
Netherlands = NLD
New Zealand = NZL
Philippines = PHL
Puerto Rico = PRI
South Sudan = SSD
Switzerland = CHE
Timor-Leste = TLS
Yemen, Rep. = YEM
Azerbaijan = AZE
Bangladesh = BGD
Cabo Verde = CPV
Costa Rica = CRI
Kazakhstan = KAZ
Luxembourg = LUX
Madagascar = MDG
Mauritania = MRT
Montenegro = MNE
Mozambique = MOZ
San Marino = SMR
Seychelles = SYC
Tajikistan = TJK
Uzbekistan = UZB

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