Úr þjóðarbúskapnum - 01.06.1962, Qupperneq 38

Úr þjóðarbúskapnum - 01.06.1962, Qupperneq 38
ÚR ÞJÓÐARBÚSKAPNUM volume increase of 25 per cent between these years the real purchasing power of exports decreased by 13 per cent. This is equivalent to handing out 30 per cent of the exports in 1951 to compensate for the deterioration of the terms of trade as from 1946. Measured in terms of gross national product the deter- ioration amounts to 10 per cent. The effect on the national product can easily have been more than this direct component effect, that is some multiple of it, but nothing can be asserted about this. Due to the subtractions for depreciation and the effects of terms of trade, net national product and gross and net national income rose relatively less over the period than gross national product. The lowest of these indices, that of net national income, was from 1950 onwards most often about 10 points lower than that of gross national product. The in- crease corresponds to a growth rate of 2.8 per cent a year for the whole period, but 6.5 per cent from 1952 onwards and 4.4 per cent from 1950 onwards. As measured from the years 1950 and 1952 the rise, therefore, is somewhat greater than for gross national product, since the important relative decreases caused by depreciation and deterioration of the terms of trade have then already taken place. Production, consumption and income per head In order to arrive at indicators of produc- tivity and welfare a few of the national acc- ounts variables have been calculated on a per capita basis. The number of working people should, indeed, be used for the division into the national product. But annual series do not exist to cover that catagory. Calculations based on fixed occupational participation rates per age and sex classes, derived from the popu- lation census of 1950, point to an 8 per cent lower increase in working population than in total population. But there are indications that this tendency has, to a considerable extent, been offset by increased participation by mar- ried women. As a new population census has been taken in 1960, yielding material now being processed, no attempt is made in this context to estimate the number of active popu- lation in order to divide by that number. Four aggregates are divided by the mid-year population of each year: private consumption, total consumption, gross national product and net national income, all at constant prices of 1954. The indices showing the development of these per capita variables are all considera- bly lower than the indices of the undivided aggregates. Over the period as a whole con- sumption per head does not appear to have increased to any measurable extent, but gross production per head has increased by 20 per cent corresponding to 1.2 per cent growth rate a year, and net national income per head has increased by 13 per cent corresponding to 0.8 per cent a year. As is evident from table 6 and figure 5, the period falls into two subperiods with a tur- ning point at 1952. From the year 1952 private consumption per head has increased by 33 per cent, or at a rate of 3.6 per cent a year, total consumption per head by 34 per cent or 3.7 per cent a year, gross production per head by 32 per cent or 3.5 per cent a year, and net national income per head by 39 per cent or 4.2 per cent a year, all yearly percentages cal- culated as compound rates of growth. 36
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