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Modified Gross National Income

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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:

  • factor income of redomiciled companies
  • depreciation on R&D service imports and trade in IP
  • depreciation on aircraft leasing
GDPGNI*NNI
2012175.5127636816126.885590145798116.134490986423
2013179.4112139725136.700984126512124.475903594562
2014194.9337572816148.843603276208135.414228518124
2015262.8000452918162.604735855371145.15542027857
2016270.0581007908174.776457084589156.372642404094
2017296.9252184241185.125337298464163.378967657219
2018326.0427967969197.820101409343174.405824254933
2019356.5262631285215.554718320457189.843599061483
2020372.868501369208.177641959189181.116448522993

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 IPFactor Income of redomiciled companiesDepreciation on aircraft leasingGross National IncomeModified Gross National Income
2012-4.819527524267-7.09733673-2.7554222649346141.557876665126.885590145798
2013-5.0943199905342-6.47375948-3.0596956549538151.328759252136.700984126512
2014-5.0926223287215-6.851084976-3.78271035417164.5700209351148.843603276208
2015-30.126841039101-4.662566246-4.6068895861284202.0010327266162.604735855371
2016-34.548816614629-5.78006588-4.864608742882219.9699483221174.776457084589
2017-40.936304628539-4.456802568-5.2271081931974235.7455526882185.125337298464
2018-43.239093982433-4.912479245-6.5495465663243252.5212212031197.820101409343
2019-47.615471216042-4.861797101-8.6749395615015276.706926199215.554718320457
2020-61.252121843331-4.506411296-9.7988819458804283.7350570444208.177641959189

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.

GDPGNIGNI*NNI
2012203.4498678842166.9009681228152.8427695833139.157004153188
2013206.0276069838176.0550584458162.4343305897147.067799881328
2014223.9802305806191.7159094143176.9604932611160.913429889418
2015280.3700427748218.0448120749180.0677517215159.850175330489
2016286.0958510802234.2002361802190.6176800092169.911508705092
2017311.6728562539248.1004483382199.4055537767176.006119796777
2018339.8174177374263.4878942631210.0152473163185.625400101131
2019356.5262631285276.706926199215.5547183205189.84359906144
2020377.4435714808286.0590470719208.0979549708181.654100759778

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. 

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

Show Table: Annex 2. Modified Gross National Income at Constant Market Prices (chain linked annually and referenced to year 2019)

Show Table: Annex 2.1 Annual Percentage Changes in the Main Constituents of Annex 2


Next Chapter >> Net and Gross Value Added