Austria - Adjusted net national income (constant 2010 US$)

The latest value for Adjusted net national income (constant 2010 US$) in Austria was 334,324,000,000 as of 2019. Over the past 49 years, the value for this indicator has fluctuated between 334,324,000,000 in 2019 and 119,238,000,000 in 1970.

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
1970 119,238,000,000
1971 124,754,000,000
1972 132,724,000,000
1973 140,607,000,000
1974 143,586,000,000
1975 143,605,000,000
1976 149,925,000,000
1977 156,895,000,000
1978 157,546,000,000
1979 165,470,000,000
1980 166,756,000,000
1981 165,443,000,000
1982 168,692,000,000
1983 174,806,000,000
1984 175,060,000,000
1985 178,864,000,000
1986 183,649,000,000
1987 187,138,000,000
1988 194,561,000,000
1989 202,053,000,000
1990 211,124,000,000
1991 217,125,000,000
1992 221,659,000,000
1993 221,590,000,000
1994 226,881,000,000
1995 231,944,000,000
1996 237,030,000,000
1997 240,411,000,000
1998 248,465,000,000
1999 253,155,000,000
2000 261,927,000,000
2001 262,963,000,000
2002 268,816,000,000
2003 271,967,000,000
2004 280,251,000,000
2005 285,803,000,000
2006 297,454,000,000
2007 307,419,000,000
2008 311,398,000,000
2009 295,658,000,000
2010 302,185,000,000
2011 306,655,000,000
2012 305,885,000,000
2013 305,082,000,000
2014 307,467,000,000
2015 309,385,000,000
2016 320,932,000,000
2017 321,471,000,000
2018 328,979,000,000
2019 334,324,000,000

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