Modified GNI (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:
| GDP | GNI* | NNI | |
| 2012 | 175.5127636816 | 126.885590145798 | 116.134490986423 |
| 2013 | 179.4112139725 | 136.700984126512 | 124.475903594562 |
| 2014 | 194.9337572816 | 148.843603276208 | 135.414228518124 |
| 2015 | 262.8000452918 | 162.604735855371 | 145.15542027857 |
| 2016 | 270.0581007908 | 174.776457084589 | 156.372642404094 |
| 2017 | 296.9252184241 | 185.125337298464 | 163.378967657219 |
| 2018 | 326.0427967969 | 197.820101409343 | 174.405824254933 |
| 2019 | 356.5262631285 | 215.554718320457 | 189.843599061483 |
| 2020 | 372.868501369 | 208.177641959189 | 181.116448522993 |
Figure 3.1 above shows a comparison of Gross Domestic Product, Modified GNI and Net National Income from 2012 to 2020. Net National Income is equal to Gross National Income net of all depreciation.
| 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 | |
| 2012 | -4.819527524267 | -7.09733673 | -2.7554222649346 | 141.557876665 | 126.885590145798 |
| 2013 | -5.0943199905342 | -6.47375948 | -3.0596956549538 | 151.328759252 | 136.700984126512 |
| 2014 | -5.0926223287215 | -6.851084976 | -3.78271035417 | 164.5700209351 | 148.843603276208 |
| 2015 | -30.126841039101 | -4.662566246 | -4.6068895861284 | 202.0010327266 | 162.604735855371 |
| 2016 | -34.548816614629 | -5.78006588 | -4.864608742882 | 219.9699483221 | 174.776457084589 |
| 2017 | -40.936304628539 | -4.456802568 | -5.2271081931974 | 235.7455526882 | 185.125337298464 |
| 2018 | -43.239093982433 | -4.912479245 | -6.5495465663243 | 252.5212212031 | 197.820101409343 |
| 2019 | -47.615471216042 | -4.861797101 | -8.6749395615015 | 276.706926199 | 215.554718320457 |
| 2020 | -61.252121843331 | -4.506411296 | -9.7988819458804 | 283.7350570444 | 208.177641959189 |
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.
| GDP | GNI | GNI* | NNI | |
| 2012 | 203.4498678842 | 166.9009681228 | 152.8427695833 | 139.157004153188 |
| 2013 | 206.0276069838 | 176.0550584458 | 162.4343305897 | 147.067799881328 |
| 2014 | 223.9802305806 | 191.7159094143 | 176.9604932611 | 160.913429889418 |
| 2015 | 280.3700427748 | 218.0448120749 | 180.0677517215 | 159.850175330489 |
| 2016 | 286.0958510802 | 234.2002361802 | 190.6176800092 | 169.911508705092 |
| 2017 | 311.6728562539 | 248.1004483382 | 199.4055537767 | 176.006119796777 |
| 2018 | 339.8174177374 | 263.4878942631 | 210.0152473163 | 185.625400101131 |
| 2019 | 356.5262631285 | 276.706926199 | 215.5547183205 | 189.84359906144 |
| 2020 | 377.4435714808 | 286.0590470719 | 208.0979549708 | 181.654100759778 |
Figure 3.3 shows a comparison of GDP, GNI and Modified GNI (GNI*) and NNI at constant prices from 2012 to 2020. Again we can see that GNI and GNI* start to diverge in recent years, particularly from 2015.
Next Chapter >> Net and Gross Value Added
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