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:
| X-axis label | GDP | GNI* | NNI |
|---|---|---|---|
| 2011 | 171 | 126.5 | 114.9 |
| 2012 | 175.1 | 126.5 | 115.9 |
| 2013 | 179.6 | 136.9 | 124.9 |
| 2014 | 195.1 | 149.1 | 136.1 |
| 2015 | 262.9 | 162.7 | 145.7 |
| 2016 | 270.8 | 174.7 | 156.9 |
| 2017 | 300.4 | 186.2 | 165 |
| 2018 | 327 | 198.7 | 175.7 |
| 2019 | 356.1 | 213.7 | 187.6 |
Figure 3.1 above shows a comparison of Gross Domestic Product, Modified GNI and Net National Income from 2011 to 2019. Net National Income is equal to Gross National Income net of all depreciation.
| X-axis label | Depreciation on R&D service imports and trade in IP | Factor Income of redomiciled companies | Depreciation on aircraft leasing | Gross National Income | Modified Gross National Income |
|---|---|---|---|---|---|
| 2011 | -4.2 | -5.5 | -2.4 | 138.6 | 126.5 |
| 2012 | -4.8 | -7.1 | -2.8 | 141.1 | 126.5 |
| 2013 | -5.1 | -6.5 | -3.1 | 151.5 | 136.9 |
| 2014 | -5.1 | -6.9 | -3.8 | 164.8 | 149.1 |
| 2015 | -30.1 | -4.7 | -4.6 | 202.1 | 162.7 |
| 2016 | -35.3 | -5.8 | -4.9 | 220.7 | 174.7 |
| 2017 | -42.5 | -4.5 | -6 | 239.2 | 186.2 |
| 2018 | -46.4 | -5 | -7.3 | 257.5 | 198.7 |
| 2019 | -49.7 | -4.2 | -7.9 | 275.5 | 213.7 |
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.
| X-axis label | GNI | GNI* |
|---|---|---|
| 2011 | 161.2 | 148.2 |
| 2012 | 161 | 145.6 |
| 2013 | 169.8 | 154.7 |
| 2014 | 184.7 | 168.4 |
| 2015 | 210.1 | 167.9 |
| 2016 | 225.8 | 177.8 |
| 2017 | 240 | 186.1 |
| 2018 | 257.5 | 198.7 |
| 2019 | 266.2 | 202.1 |
Figure 3.3 above shows a comparison of GNI and Modified GNI at constant prices from 2011 to 2019. Again we can see that the series start to diverge in recent years, particularly from 2015.
