Developed and industrialized countries have the highest adjusted net national incomes per capita due to their large volume of trade in exports and imports with other countries, as well as well-entrenched infrastructure within. A country measures its national income by using an assortment of measures such as gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI). The NNI is adjusted for fixed capital and natural resources reduction. Adjusted net national income per capita is a country's measure of its populace's living standards and purchasing power.
Trade Dynamics In Countries With The Highest Adjusted Net National Incomes Per Capita
A high volume of exports in diversified products, and vis-a-vis with similar amounts of imports, usually results in countries attaining a high adjusted net national income per capita. These countries have huge amounts of disposable wealth to help developing countries achieve modernization and industrialization. After accounting for the use of resources and fixed capital, these countries still have a great deal of wealth to spare. Norway's adjusted net national income is $76,874 USD and the highest in the world. Oil export revenues account for much of its wealth. Still, its population of 5.084 million does not enjoy an equal wealth distribution. Switzerland's adjusted net national income is $67,112 USD. The average personal wealth for its citizens in 2011 exceeded $500,000 USD. The population is 8.081 million with about 11% of its adults considered millionaires in US dollars, while about 3,800 adults possess in excess of $50 million in assets. Qatar's adjusted net national income is $62,298 USD. The Qatari population is 2.5 million. Qatar is a high income economy and owns the third biggest oil and gas reserves in the world. Luxembourg's adjusted net national income is $62,283 USD. The population is 574,219 people as of 2016, and comprising it are mostly highly educated people, many working in financial services. A banking country that offers tax haven services, Sweden's adjusted net national income is $50,996 USD. The population is 9,822,093, of which 75% of those aged 15-64 are employed with paid jobs. Denmark's adjusted net national income is $50,987 USD. The population is 5,681,810, of which only 6.2% are unemployed and the rest have some of the highest credit ratings in the world. Australia's adjusted net national income is $47,745 USD. The population is 24,108,500 of which have median assets of $219,500 USD per adult. Singapore's adjusted net national income is $47,042 USD. The population is 5,691,947 of which 3,655,600 are actively employed in the workforce. The United States' adjusted net national income is $46,858 USD. The population is 322,762,018, among whom 1% holds 38% of all of the private wealth in the US. There is great disparity in wealth distribution among its populace. The Netherlands' adjusted net national income is $43,942 USD. The population is 16,955,444, among which each average household has an asset of $71,251 USD and possess high standards of living. Austria's adjusted net national income is $41,559 USD. The population is 8,568,363 of which 26.1% are in manufacturing industries, while 69.7% are in the service sectors. Germany's adjusted net national income is $40,365 USD. The population is 80,682,000 of whom 43,433,000 Germans are actively employed in the workforce. Finland's adjusted net national income is $40,233 USD. The Finnish population is 5.5 million, and on average posses net assets of EUR 110,000. Canada's adjusted net national income is$39,892 USD. The Canadian population is 36,286,378, and 18,055,200 of these people are actively employed. The United Kingdom's adjusted net national income is $39,041 USD. The British population is 63,742,977, of whom 30,395,000 are employed. Belgium's adjusted net national income is $38,725 USD. The population is 10,449,361, and the average Belgian earns EURO 2,000 net a month in salary. Ireland ($38,6490) has a population of 4,713,000. The top 10% of the rich in Ireland hold one half of the total private wealth in that country. New Zealand ($36,053) has a population of 4,401,916. The top 10% of the rich hold almost half of private wealth in the country. France,829) has a population of 66.6 million. It is the only EU member country that imposes a wealth tax. The United Arab Emirates ($34,087) has a population of 9,294,222 people. Its economy is the second largest in the region, after Saudi Arabia.
Impediments in Determining Adjusted Net National Income
According to economists, the measure of national income presents some inaccuracies and doubts. There are those experts who think that services should not be part of national income while others are for its inclusion. Another issue is the correct definition of final goods and intermediate goods as only final goods are included in national income but definition confusion blurs the line. Factor incomes and non-factor incomes also are getting treated as one. Domestic and tradesmen cash services and barter services are also a problem. Tax evaders also pose problems due to unreported incomes.
20 Countries With The Highest Adjusted Net National Income Per Capita
|Rank||Country||Adjusted Net National Income Per Capita in USD|
|20||United Arab Emirates||$34,087|