National wealth
National (net) wealth also net wealth (in Singapore), national net worth, gross national wealth (GNW), and total national wealth is the total sum value of monetary assets minus liabilities of a given nation. It refers to the total value of wealth possessed by the citizens of a nation at a set point in time.[1] This figure is an important indicator of a nation's ability to take on debt and sustain spending, and is influenced by not only real estate prices, but also by the stock market, human resources, technological advancements which may create new assets or render others worthless, national infrastructure and exchange rates. The most significant component by far among most developed nations is commonly reported as household net wealth or worth and reflects infrastructure investment. National wealth can fluctuate, as evidenced in the US data following the 2008 financial crisis and subsequent economic recovery.
Differences by country
- In Taiwan, Gross national wealth and net national wealth are two different measures.
- In the USA, the figure regularly reported by the Federal Reserve of the US is household net worth, and includes corporations as they are essentially owned by American households. The United States Federal Reserve previously published the figure total national wealth in the past.[2] However, this figure ignores the current balance of accumulated borrowing and assets of the federal and state governments.
- Japan publishes two figures, gross national assets and net national assets. By gross national assets, Japan reports a figure of 7954 trillion yen ($103 trillion), but claims liabilities of 5242 trillion ($68 trillion) for a net 2712 trillion in 2009.[3] However, these numbers are suspiciously large compared with GDP, only liabilities that could be worth that amount given Japan's ultra low reliance on foreign debt (in government and private sectors) is future promises of healthcare and pension for its aging citizens. Therefore Japan compiles extra figures (which other nations do not compile) and makes their figures less meaningful to compare with other nations.
The following table are estimates for 30 largest countries by net national wealth from 2000 to 2014 made by Credit Suisse in October 2014.[4]
| Rank | Country | 2000 | Country | 2005 | Country | 2010 | Country | 2014 |
|---|---|---|---|---|---|---|---|---|
| World | 117,052 | World | 171,182 | World | 216,084 | World | 263,242 | |
| 1 |  United States | 42,941 | United States | 59,664 | United States | 57,114 | United States | 83,708 |
| 2 |  Japan | 19,316 | Japan | 18,143 | Japan | 23,474 | Japan | 23,172 |
| 3 |  United Kingdom | 7,184 | United Kingdom | 11,026 |  China | 17,791 | China | 21,404 |
| 4 |  Germany | 5,800 |  France | 9,537 | France | 13,441 | France | 15,304 |
| 5 |  Italy | 5,497 | Italy | 9,054 | Germany | 12,303 | United Kingdom | 14,157 |
| 6 | China | 4,664 | Germany | 8,970 | United Kingdom | 11,827 | Germany | 14,156 |
| 7 | France | 4,566 | China | 8,674 | Italy | 11,619 | Italy | 12,580 |
| 8 |  Canada | 2,469 | Canada | 4,277 | Canada | 6,212 | Canada | 7,507 |
| 9 |  Spain | 2,045 | Spain | 4,003 |  Australia | 5,389 | Australia | 7,202 |
| 10 |  Taiwan | 1,807 | Australia | 3,066 | Spain | 4,510 | Spain | 5,033 |
| 11 | Australia | 1,432 |  South Korea | 2,149 |  India | 3,883 | South Korea | 3,687 |
| 12 |  Netherlands | 1,286 | India | 2,142 |  Brazil | 3,181 | India | 3,604 |
| 13 |  Switzerland | 1,284 | Taiwan | 1,989 | Taiwan | 3,116 | Switzerland | 3,554 |
| 14 | India | 1,163 | Netherlands | 1,852 | South Korea | 2,782 | Taiwan | 3,361 |
| 15 | .svg.png){kind=small} Belgium | 1,153 | Switzerland | 1,715 |  Russia | 2,587 | Brazil | 3,194 |
| 16 | South Korea | 1,089 | Belgium | 1,696 | Switzerland | 2,498 | Netherlands | 2,722 |
| 17 |  Mexico | 987 | Mexico | 1,600 | Mexico | 2,374 | Mexico | 2,610 |
| 18 |  Sweden | 849 | Sweden | 1,342 | Netherlands | 2,370 | Belgium | 2,529 |
| 19 | Brazil | 824 | Brazil | 1,224 | Belgium | 2,115 | Sweden | 2,436 |
| 20 |  Hong Kong | 597 | Russia | 1,219 | Sweden | 1,799 | Russia | 2,156 |
| 21 |  Argentina | 582 |  Turkey | 1,085 |  Indonesia | 1,693 | Indonesia | 1,550 |
| 22 |  Austria | 563 | Austria | 954 | Turkey | 1,256 | Austria | 1,529 |
| 23 |  Greece | 493 | Greece | 904 | Austria | 1,217 |  Norway | 1,345 |
| 24 | Turkey | 483 | Norway | 731 | Norway | 1,158 |  Denmark | 1,230 |
| 25 | Denmark | 427 | Indonesia | 716 | Greece | 940 |  Singapore | 1,156 |
| 26 |  Portugal | 379 | Denmark | 712 | Denmark | 923 | Turkey | 1,061 |
| 27 | Norway | 368 | Hong Kong | 684 | Singapore | 888 | Greece | 1,015 |
| 28 |  Israel | 355 | Portugal | 621 |  Poland | 766 | Hong Kong | 998 |
| 29 | Singapore | 326 |  Finland | 550 | Portugal | 766 | Portugal | 849 |
| 30 | Russia | 315 |  Ireland | 524 | Hong Kong | 750 | Israel | 843 |
The following table indicates the share of global wealth of the ten largest countries by net national wealth at given years. The share of global wealth of a country with 5% or more of global wealth at a given year is bolded.
| Year | Australia | Canada | China | France | Germany | Italy | Japan | Spain | Taiwan | United Kingdom | United States | Aggregate Share of Top 10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2000 | - | 2.1% | 4.0% | 3.9% | 5.0% | 4.7% | 16.5% | 1.7% | 1.5% | 6.1% | 36.7% | 82.2% |
| 2001 | - | 2.1% | 4.4% | 4.0% | 5.0% | 4.7% | 14.3% | 1.8% | 1.6% | 6.1% | 37.6% | 81.6% |
| 2002 | - | 2.0% | 5.1% | 4.8% | 5.6% | 5.5% | 14.1% | 2.0% | 1.6% | 6.5% | 33.8% | 81.0% |
| 2003 | 1.7% | 2.2% | 5.2% | 5.3% | 5.9% | 5.8% | 13.3% | 2.3% | - | 6.6% | 32.1% | 80.4% |
| 2004 | 1.8% | 2.2% | 5.0% | 5.9% | 5.9% | 5.9% | 12.0% | 2.4% | - | 6.9% | 32.0% | 80.0% |
| 2005 | 1.8% | 2.5% | 5.1% | 5.6% | 5.2% | 5.3% | 10.6% | 2.3% | - | 6.4% | 34.9% | 79.7% |
| 2006 | 1.9% | 2.4% | 5.8% | 6.0% | 5.5% | 5.5% | 9.3% | 2.5% | - | 7.0% | 32.8% | 78.7% |
| 2007 | 2.1% | 2.7% | 7.0% | 6.4% | 5.8% | 5.7% | 8.4% | 2.6% | - | 6.8% | 29.3% | 76.8% |
| 2008 | 1.9% | 2.4% | 6.8% | 6.7% | 6.4% | 6.1% | 11.8% | 2.4% | - | 5.1% | 27.5% | 77.1% |
| 2009 | 2.2% | 2.7% | 7.8% | 6.5% | 6.2% | 6.1% | 10.8% | 2.4% | - | 5.7% | 26.0% | 76.4% |
| 2010 | 2.5% | 2.9% | 8.2% | 6.2% | 5.7% | 5.4% | 10.9% | 2.1% | - | 5.5% | 26.4% | 75.8% |
| 2011 | 2.8% | 2.8% | 8.7% | 6.0% | 5.4% | 5.0% | 12.5% | 1.9% | - | 4.9% | 26.8% | 76.8% |
| 2012 | 2.9% | 3.0% | 8.4% | 5.8% | 5.4% | 4.8% | 10.8% | 1.8% | - | 5.0% | 28.3% | 76.2% |
| 2013 | 2.8% | 2.9% | 8.5% | 5.7% | 5.3% | 4.7% | 9.3% | 1.8% | - | 4.9% | 30.8% | 76.7% |
| 2014 | 2.7% | 2.9% | 8.1% | 5.8% | 5.4% | 4.8% | 8.8% | 1.9% | - | 5.4% | 31.8% | 77.6% |
Statistics
The following nations have reported national wealth statistics. Making meaningful comparisons is far from straightforward as the methodology in compiling them varies. (Russia and Switzerland figures are not issued by the nations themselves, and may be contested by their respective nations. They were compiled by the World Bank).
| Country | National wealth (USD, trillion) | National wealth (local currency, trillion) | Population(million) | Current exchange rate (per USD) | per capita wealth(USD) | Year |
|---|---|---|---|---|---|---|
| United States (households only) | 81.8 | 81.8[5] | 314 | - | $260,509 | 2014-Q1 |
| Japan | 28.4[6] | 3,000 | 127.9 | 102 | $222,048 | 2012 |
| Germany (fixed assets only) | 18.04 | 13.56[7] | 81.8 | 1.33 | $220,474 (fixed) | 2011 |
| France | 16.11 | 12.115[8] | 62 | 1.33 | $259,886 | 2009 |
| United Kingdom | 11.39 | 7.3[9] | 62.3 | 1.56 | $182,825 | 2010-Q4 |
| South Korea | 10.375 | 10,630[10] | 50 | 1025 | $207,509 | 2012 |
| Australia | 8.655 | 8.089(total) /6.0 (household)[11] | 22.7 | 1.07 | $381,277(total)/$282,819(Household) | Jun-2011 |
| Canada | 6.0 | 6.4[12] | 34.5 | 1.06 | $173,913 | 2011-Q2 |
| Russia | 5.61 | 179.6 (calculated) | 145 | 32 | $38,709[13] | 2005 |
| Taiwan | 4.7 | 147.2[14] | 23 | 30 | $211,659 | 2011 |
| Switzerland | 4.2 | 4.59 (calculated) | 6.5 | 1.09 | $648,200[13] | 2005 |
| India | 3.2 | 190.8[15] | 1200 | 59 | $2,667 | 2011 |
| Singapore (household only) | 0.997 | 1.247 [16] | 5.1 | 1.25 | $195,490 | 2011-Q3 |
See also
References
- ↑ http://eng.stat.gov.tw/ct.asp?xItem=9357&ctNode=1641
- ↑ http://www.nber.org/chapters/c2072.pdf
- ↑ http://www.asyura2.com/11/senkyo106/msg/858.html
- ↑ https://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=25EC6CF2-0407-67D9-AAEAAE8BDFEDE378 Page: 33-92
- ↑ http://online.wsj.com/articles/americans-wealth-hits-new-record-in-1st-quarter-1401985427. Retrieved 2014-06-06. Missing or empty
|title=(help) - ↑ http://asia.nikkei.com/Politics-Economy/Economy/Japan-ekes-out-gain-in-national-wealth-in-12
- ↑ "National wealth accounts Gross stock of fixed assets". Federal Statistics Office. 2011-09-17. Retrieved 2012-03-01.
- ↑ "En 2009, repli du patrimoine économique national pour la deuxième année consécutive" (PDF). Banque France. 2 November 2011. Retrieved 30 November 2011.
- ↑ "UK worth £7.3 trillion". Office for National Statistics. 2 November 2011. Retrieved 30 November 2011.
- ↑ National wealth, Statistics Korea
- ↑ "Australian System of National Accounts, 2010-11" (PDF). Australian Bureau of Statistics. 2012-02-29. Retrieved 2012-02-29.
- ↑ "Canada's national net worth up, household worth drops". Money. 2011-09-14. Retrieved 2011-09-14.
- ↑ 13.0 13.1 "Russia's national wealth structure differs from the one in the rest of the world". Pravda. 2005-09-20. Retrieved 2011-10-04.
- ↑ "National Wealth Statistics > Statistical Tables". National Statistics Republic of China. 2010-03-11. Retrieved 2010-08-11.
- ↑ "Eroding Wealth". Business Today. 2012-11-01. Retrieved 2013-06-21.
- ↑ "Net household wealth rises". Asiaone. 2011-11-21. Retrieved 2012-03-01.
External links
- World Bank: Estimating national wealth : methodology and results
- National wealth of national blocks estimated by Credit Suisse
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