NATIONAL INCOME Definition & Meaning

national income

noun

the total net earnings from the production of goods and services in a country over a period of time, usually one year, and consisting essentially of wages, salaries, rent, profits, and interest.

national income

noun

economics the total of all incomes accruing over a specified period to residents of a country and consisting of wages, salaries, profits, rent, and interest

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51�Թ� History and Origins

Origin of national income¹

First recorded in 1875–80

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Example Sentences

Examples have not been reviewed.

This is to be funded by reducing overseas aid spending to 0.3% of gross national income.

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The government announced earlier this month that it would cut the foreign aid budget to increase military spending to 2.5% of national income by 2027.

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It is also pointed out that Germany's national debt is vastly smaller than the UK's as a share of national income.

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In its election manifesto, Labour pledged to restore development spending to 0.7% of gross national income "as soon as fiscal circumstances allow" - a goal the government says it is still committed to.

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The damage to Mexico's national income could be less severe, but its central bank has less capacity to cut interest rates making it harder to deflect the pain.

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