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Modified Gross National Income

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Modified GNI is an indicator that was recommended by the Economic Statistics Review Group and is designed to exclude globalisation effects that are disproportionally impacting the measurement of the size of the Irish economy.

To produce Modified GNI we take GNI and adjust for:

  • factor income of redomiciled companies
  • depreciation on R&D service imports and trade in IP
  • depreciation on aircraft leasing
X-axis labelGDPGNI*NNI
2010167.7129116.7
2011170.8126.4114.9
2012175.1126.5116
2013179.7137125
2014194.8148.7135.8
2015262.8162.7145.7
2016271.7175.6157.8
2017297.1184162.9
2018324197.5174.9

Figure 3.1 above shows a comparison of Gross Domestic Product, Modified GNI and Net National Income from 2010 to 2018. Net National Income is equal to Gross National Income net of all depreciation.

X-axis labelDepreciation on R&D service imports and trade in IPFactor Income of redomiciled companiesDepreciation on aircraft leasingGross National IncomeModified Gross National Income
2010-4.2-5.3-2.2140.5129
2011-4.2-5.5-2.4138.5126.4
2012-4.8-7.1-2.8141.2126.5
2013-5.1-6.5-3.1151.6137
2014-5.1-6.9-3.8164.5148.7
2015-30.1-4.7-4.6202162.7
2016-35.3-5.8-4.9221.6175.6
2017-42.5-4.5-5.1236184
2018-46.3-5-5.4254.2197.5

Figure 3.2 shows the difference between GNI at current prices and Modified GNI at current prices as well as the adjustments. We can see that the series start to diverge in recent years, particularly from 2015, with most of the difference explained by the depreciation on R&D service imports and trade in IP.

Show Table: Annex 1. Modified Gross National Income at Current Market Prices

Show Table: Annex 1.1 Annual Percentage Changes in the Main Constituents of Annex 1

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