Australia


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Australia


Key Numbers

Total changes 1990-2008

 

2%

Inclusive Wealth Index

47%

Gross Domestic Product

-27%

Natural Capital

73%

Manufactured Capital

8%

Human Capital

 

Changes over 20 Years

Changes in inclusive wealth from 1990 to 2008 were primarily driven by increases in produced capital, which was the main factor that offset the considerable decline in natural capital. In addition, the significant difference between IWI and GDP could be accounted for by the depreciation in natural capital, indicating that if economic growth is to continue, Australia may need to increase all of its inclusive investments, especially in its natural capital stocks.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Australia’s inclusive wealth

Composition of Australia’s inclusive wealth

Inclusive Wealth

Human capital lead Australia’s inclusive wealth, followed by natural and produced capital.

Composition of Australia’s natural capital

Composition of Australia’s natural capital

Natural Capital

Australia’s natural capital base was primarily made up of agricultural land and fossil fuels. Their overall decline in natural capital can be attributed to a significant depletion of their mineral base and a decline in agricultural land.

 

Brazil


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Brazil


Key Numbers

Total changes 1990-2008

 

18%

Inclusive Wealth Index

34%

Gross Domestic Product

-25%

Natural Capital

8%

Manufactured Capital

48%

Human Capital

 

Changes over 20 Years

The changes in inclusive wealth in Brazil were driven primarily by rapid growth in human capital of 48 percent. The increase in human capital was found to be the prime factor that offset the 25 percent decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Brazil’s inclusive wealth

Composition of Brazil’s inclusive wealth

Inclusive Wealth

Brazil’s key strength lies in the field of human capital, which on average constituted 56 percent of its national inclusive wealth in the time period assessed. Brazil saw a significant decline in its natural capital, while manufactured capital remained stable. Conventionally defined, developing countries starting from a low level of human capital such as Brazil or Kenya, have been catching up to the more industrialized economies assessed in the Inclusive Wealth Report 2012.

 

Composition of Brazil’s natural capital

Composition of Brazil’s natural capital

Natural Capital

Changes in forest resources account for 66 percent of the changes in the natural capital account when compared with the 1990 (base year) levels. While Brazil’s overall natural capital declined considerably, one asset was an exception: agricultural land expanded by 10 percent, with a balanced increase in both cropland and pastureland.

 

Canada


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Canada


Key Numbers

Total changes 1990-2008

 

7%

Inclusive Wealth Index

33%

Gross Domestic Product

-20%

Natural Capital

51%

Manufactured Capital

20%

Human Capital

 

Changes over 20 Years

Changes in inclusive wealth were primarily driven by increases in produced capital, which was the main factor that offset the decline in natural capital. In addition, the significant difference between IWI and GDP might be accounted for by the depreciation in natural capital, indicating that if economic growth is to continue, Canada may need to increase all of its inclusive investments, especially in its natural capital stocks.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Canada’s inclusive wealth

Composition of Canada’s inclusive wealth

Inclusive Wealth

Human capital lead Canada’s inclusive wealth in the time period assessed, followed by natural and produced capital.

Composition of Canada’s natural capital

Composition of Canada’s natural capital

Natural Capital

Canada’s natural capital base was primarily made up of forest resources and fossil fuels. The overall decline in natural capital can be attributed to a significant depletion of the country’s fossil fuel base, which contributed to the majority of the natural capital change in Canada over the time period assessed (1990-2008). Canada was also seen to draw down heavily on its mineral resources, which caused an overall decline in natural capital accounts of about 10 percent.

 

Chile


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Chile


Key Numbers

Total changes 1990-2008

 

24%

Inclusive Wealth Index

103%

Gross Domestic Product

-26%

Natural Capital

183%

Manufactured Capital

28%

Human Capital

 

Changes over 20 Years

Chile was amongst the top performing countries on the IWI. The positive changes in its inclusive wealth were primarily driven by produced capital, which was the main factor that offset the considerable decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Chile’s inclusive wealth

Composition of Chile’s inclusive wealth

Inclusive Wealth

While Chile experienced rapid change in their productive base, on average human capital still made up the majority of its inclusive wealth from 1990 to 2008 and served as the main driver of capital accumulation, followed by natural capital.

Composition of Chile’s natural capital

Composition of Chile’s natural capital

Natural Capital

Chile experienced a rapid depletion of its mineral resources from 1990 to 2008, primarily caused by a drawdown on its copper reserves, which explained the majority of the change in its natural capital accounts. However, a slight increase in forest resources was able to offset this decline to a certain extent.

 

China


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China


Key Numbers

Total changes 1990-2008

 

45%

Inclusive Wealth Index

422%

Gross Domestic Product

-17%

Natural Capital

452%

Manufactured Capital

33%

Human Capital

 
 

Changes over 20 Years

China presented a very strong growth in GDP over the time period assessed. In comparison, the IWI shows a more modest growth, which could be due to the 17 percent decline of its natural capital. It seems evident that the positive increase of its inclusive wealth was mainly driven by rapid growth in produced capital, which was the primary factor that offset the decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of China’s inclusive wealth

Composition of China’s inclusive wealth

Inclusive Wealth

While China’s strong IWI is driven primarily by increases in produced capital, it only makes up 17% on average of China’s total capital stock, whereas human capital accounts for 47% and natural capital for 35%. Especially in light of China’s average annual population growth rate of 0.83%, a re-evaluation of its development strategy and increased investment in natural capital would allow China to obtain higher returns on its produced and human capital and shift to a more sustainable track.

Composition of China’s natural capital

Composition of China’s natural capital

Natural Capital

China’s natural capital stocks decreased overall by about 17% from 1990 to 2008. Although forest resources experienced a noteworthy net change increase, fisheries, fossil fuels and minerals were all diminished in quantity over the time period assessed.

 

Colombia


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Colombia


Key Numbers

Total changes 1990-2008

-2%

Inclusive Wealth Index

35%

Gross Domestic Product

-31%

Natural Capital

26%

Produced Capital

29%

Human Capital


Changes over 20 Years

The negative changes in inclusive wealth in Colombia can primarily be attributed to the rapid depletion of their natural capital, which growth in produced and human capital were not able to offset. These numbers suggest that GDP growth may not be sustainable in the long run and that it may be closely linked to depletion of natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Colombia’s inclusive wealth

Composition of Colombia’s inclusive wealth

Inclusive Wealth

Natural capital, mostly made up of agricultural land and fossil fuels, was the largest part of Colombia’s inclusive wealth, followed by produced and human capital.

Composition of Colombia’s natural capital

Composition of Colombia’s natural capital

Natural Capital

Between 1990 and 2008, Colombia experienced large declines in its mineral and oil reserves, which significantly contributed to the decline in natural capital and its low performance on the IWI. The decline in natural capital was further exacerbated by rapid population growth, which resulted in a lower rate of return of its capital asset base per person. Taking into account that population is growing faster than resources, it seems critical that Colombia carefully assess their population growth rates and reinvest in its natural capital base to increase the rate of IWI growth and move onto a sustainable track.

 

Ecuador


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Ecuador


Key Numbers

Total changes 1990-2008

 

7%

Inclusive Wealth Index

36%

Gross Domestic Product

-33%

Natural Capital

9%

Produced Capital

28%

Human Capital

 

Changes over 20 Years

The changes in inclusive wealth in Ecuador were primarily driven by rapid growth in human capital, which was the main factor that offset the decline in natural capital. The significant difference between IWI and GDP could be accounted for by the decline in natural capital, indicating that if economic growth is to continue, Ecuador should consider increasing all of its inclusive investments, especially in its natural capital stocks.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Ecuador’s inclusive wealth

Composition of Ecuador’s inclusive wealth

Inclusive Wealth

Human capital makes up the large majority of Ecuador’s inclusive wealth, followed by natural and produced capital.

Composition of Ecuador’s natural capital

Composition of Ecuador’s natural capital

Natural Capital

Ecuador’s natural capital stocks are mostly made up of forest resources and fossil fuels. However, the rapid depletion of Ecuador’s forests from 1990 to 2008 accounts for the majority of the changes in their natural capital account since 1990 (base year).

 

France


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France


Key Numbers

Total changes 1990-2008

 

29%

Inclusive Wealth Index

26%

Gross Domestic Product

-0.4%

Natural Capital

38%

Manufactured Capital

27%

Human Capital

 

Changes over 20 Years

The changes in inclusive wealth in France were primarily driven by rapid growth in human capital. Additionally, France was one of the few countries that performed better on the IWI than on GDP, presumably due to growth in human capital and to a lesser extent natural capital growth.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of France’s inclusive wealth

Composition of France’s inclusive wealth

Inclusive Wealth

Human capital makes up the large majority of France’s inclusive wealth, followed by produced and natural capital. While France and Germany were the only two countries that had little to no change in their natural capital, natural capital only accounted for 1% of France’s total capital value.

 

Composition of France’s natural capital

Composition of France’s natural capital

Natural Capital

France’s natural capital primarily consists of agricultural land and forest resources. Along with Japan, France experienced an increase in forest resources over the time period assessed. Overall, forest resources accounted for the majority of changes in France’s natural capital accounts.

 

Germany


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Germany


Key Numbers

Total changes 1990-2008

 

38%

Inclusive Wealth Index

30%

Gross Domestic Product

-12%

Natural Capital

37%

Manufactured Capital

46%

Human Capital

 

Changes over 20 Years

The changes in inclusive wealth in Germany were primarily driven by rapid growth in human capital. Additionally, Germany was one of the few countries that performed better on the IWI than on GDP, due to growth in human capital and a comparatively modest decrease in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Germany’s inclusive wealth

Composition of Germany’s inclusive wealth

Inclusive Wealth

Human capital makes up the large majority of Germany’s inclusive wealth, followed by produced and natural capital.

 

Composition of Germany’s natural capital

Composition of Germany’s natural capital

Natural Capital

Germany’s natural capital primarily consists of fossil fuels. Depletion of fossil fuels, specifically coal, also accounts for the majority of the negative change in Germany’s natural capital base.

 

India


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India


Key Numbers

Total changes 1990-2008

 

18%

Inclusive Wealth Index

120%

Gross Domestic Product

-31%

Natural Capital

168%

Manufactured Capital

24%

Human Capital

 

Changes over 20 Years

India experienced very strong growth in GDP over the time period assessed, whereas IWI showed more modest growth. The significant difference between the two indicators may be attributed to the decline in natural capital. Additionally, the positive changes in India’s inclusive wealth appear to be primarily driven by rapid growth in produced capital, which was able to offset the decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of India’s inclusive wealth

Composition of India’s inclusive wealth

Inclusive Wealth

While India’s positive IWI is primarily driven by increases in produced capital, it only makes up 18% on average of India’s total capital stock. The majority of India’s inclusive wealth lies in its human and natural capital.

Composition of India’s natural capital

Composition of India’s natural capital

Natural Capital

India’s natural capital base is primarily made up of agricultural land and fossil fuels. These resources have been steadily depleted and rapid population growth has significantly exacerbated the situation.

 

Japan


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Japan


Key Numbers

Total changes 1990-2008

 

18%

Inclusive Wealth Index

20%

Gross Domestic Product

8%

Natural Capital

38%

Manufactured Capital

12%

Human Capital

 

Changes over 20 Years

Japan is the only country assessed that experienced an increase in natural capital stocks. Given that when we look at the composition of Japan’s inclusive wealth below, we see that natural capital only constituted 1 percent of the nation’s capital base, changes in inclusive wealth can primarily be attributed to changes in produced and human capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Japan’s inclusive wealth

Composition of Japan’s inclusive wealth

Inclusive Wealth

Human capital makes up the large majority of Japan’s inclusive wealth, followed by produced and to a much lesser extent natural capital.

Composition of Japan’s natural capital

Composition of Japan’s natural capital

Natural Capital

Japan’s natural capital stocks are mostly made up of agricultural land and forest resources. While agricultural land was steadily declining since 1990, forest resources increased and were the primary reason for the country’s positive natural capital growth rate.

 

Kenya


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Kenya


Key Numbers

Total changes 1990-2008

 

1%

Inclusive Wealth Index

2%

Gross Domestic Product

-38%

Natural Capital

15%

Manufactured Capital

27%

Human Capital

 

Changes over 20 Years

While Kenya presented a positive IWI growth rate, it was on the margin and has a high probability of moving to a negative IWI which customarily indicates an unsustainable trajectory. Growth in produced and human capital has barely been able to offset the decline in natural capital. In addition, rapid population growth has resulted in a lower rate of return of its capital asset base per person.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital  

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

 


Wealth Composition

 
Composition of Kenya’s inclusive wealth

Composition of Kenya’s inclusive wealth

Inclusive Wealth

Human capital makes up the large majority of Kenya’s inclusive wealth, followed by natural and produced capital.

Composition of Kenya’s natural capital

Composition of Kenya’s natural capital

Natural Capital

While agricultural land expanded over the past 19 years, it was insufficient to account for the population increase Kenya had also witnessed over that same period. This calls for larger investment in an expansion of agricultural land and forests, which declined in Kenya over the same time period. Policies focusing on the management of population growth should be considered in conjunction with increased investment in agricultural land and forests to ensure sustainable growth.

 

Nigeria


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Nigeria


Key Numbers

Total changes 1990-2008

 

-29%

Inclusive Wealth Index

49%

Gross Domestic Product

-36%

Natural Capital

-42%

Manufactured Capital

13%

Human Capital

 

Changes over 20 Years

The negative changes in IWI in Nigeria indicate an unsustainable track. Furthermore, Nigeria was one of the few countries that saw a decrease in produced capital in addition to a decrease in natural capital. The significant discrepancy between IWI and GDP growth indicates that GDP growth may not be sustainable. This discrepancy can be attributed to the fact that Nigeria is depleting its natural capital, specifically their oil reserves, but not increasing their produced or human capital bases fast enough to ensure positive growth in inclusive wealth. Additionally, rapid population growth has further exacerbated the situation, resulting in a lower rate of return of its capital asset base per person.

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Wealth Composition

 
Composition of Nigeria’s inclusive wealth

Composition of Nigeria’s inclusive wealth

Inclusive Wealth

Natural capital makes up the large majority of Nigeria’s inclusive wealth, followed by human and produced capital.

 

Composition of Nigeria’s natural capital

Composition of Nigeria’s natural capital

Natural Capital

Nigeria is amongst the countries with the highest stock of natural capital, driven primarily by fossil fuels. However, the rapid depletion of its oil reserves is the primary reason for Nigeria’s negative IWI rating. In conjunction with its high population growth rate, it is crucial that Nigeria improves its inclusive investments in produced and human capital if it intends to move on to a more sustainable track.

 

Norway


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Norway


Key Numbers

Total changes 1990-2008

 

13%

Inclusive Wealth Index

51%

Gross Domestic Product

-25%

Natural Capital

34%

Manufactured Capital

15%

Human Capital

 

Changes over 20 Years

Changes in inclusive wealth were primarily driven by increases in produced and human capital, which were the main factors that offset the decline in natural capital. However, the significant difference between IWI and GDP can partially be attributed to the decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Norway’s inclusive wealth

Composition of Norway’s inclusive wealth

Inclusive Wealth

Human capital makes up the large majority of Norway’s inclusive wealth, followed by produced and natural capital.

Composition of Norway’s natural capital

Composition of Norway’s natural capital

Natural Capital

Norway has seen a decline in its natural capital asset base between 1990 and 2008, driven by its drawdown of oil and gas resources. But in spite of a larger population growth rate, which would have been expected to put more pressures on its natural capital base, Norway has managed to exhibit a positive IWI. This could be traced back to a larger increase in its human and manufactured capital base.

 

Russia


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Russia


Key Numbers

Total changes 1990-2008

 

-5%

Inclusive Wealth Index

17%

Gross Domestic Product

-3%

Natural Capital

-37%

Manufactured Capital

22%

Human Capital

 

Changes over 20 Years

Russia was one of three countries assessed where negative changes in inclusive wealth were mainly caused by a decline in produced capital. The decline in Russia’s inclusive wealth was partially alleviated by its decreasing population growth rate, offering empirical support that increasing population will place a higher burden on natural capital asset base.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Russia’s inclusive wealth

Composition of Russia’s inclusive wealth

Inclusive Wealth

Natural capital makes up the large majority of Russia’s inclusive wealth, followed by human and produced capital.

Composition of Russia’s natural capital

Composition of Russia’s natural capital

Natural Capital

Russia is amongst the countries with the highest stock of natural capital, driven primarily by fossil fuels. While it was seen to be rapidly depleting its oil resources, as mentioned above, the situation was alleviated because population growth in Russia had been decreasing over the time period assessed. Nevertheless, the relative decrease in population was not enough to outweigh the overall decline in natural capital.

 

Saudi Arabia


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Saudi Arabia


Key Numbers

Total changes 1990-2008

 

-18%

Inclusive Wealth Index

7%

Gross Domestic Product

-39%

Natural Capital

25%

Manufactured Capital

43%

Human Capital

 

Changes over 20 Years

The negative changes in inclusive wealth in Saudi Arabia indicate an unsustainable track. They were caused primarily by a heavy drawdown on natural capital, which a rapid growth in human capital was not able to offset.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Saudi Arabia’s inclusive wealth

Composition of Saudi Arabia’s inclusive wealth

Composition of Saudi Arabia’s natural capital

Composition of Saudi Arabia’s natural capital

Inclusive Wealth

Natural capital, driven primarily by oil reserves, made up the largest part of Saudi Arabia’s inclusive wealth. However, in the time period assessed (1990-2008), these reserves were being rapidly depleted and produced and human capital were not increasing as fast as they could to offset the decline. The situation was further exacerbated by Saudi Arabia’s rapid population growth rate, which at 2.72% average annual growth, resulted in a low rate of return of its capital asset base per person. It is crucial that Saudi Arabia improves its inclusive investments in produced capital and human capital.

 

South Africa


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South Africa


Key Numbers

Total changes 1990-2008

 

-1%

Inclusive Wealth Index

25%

Gross Domestic Product

-33%

Natural Capital

14%

Manufactured Capital

20%

Human Capital

 

Changes over 20 Years

The negative changes in inclusive wealth in South Africa were primarily caused by a rapid drawdown in natural capital, which growth in human and produced capitals were not able to offset. These numbers suggest the country’s GDP growth is closely tied to its natural capital stocks. Further, South Africa also presented negatively on the Human Development Index. These low ratings suggest that urgent interventions to improving all three types of capital, should be made if sustainable growth is to be achieved.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of South Africa’s inclusive wealth

Composition of South Africa’s inclusive wealth

Inclusive Wealth

From 1990 to 2008, human capital was increasing in South Africa, which is typical of developing countries starting from a lower level of human capital.

Composition of South Africa’s natural capital

Composition of South Africa’s natural capital

Natural Capital

Natural capital also accounted for a large proportion of inclusive wealth; however, South Africa was shown to draw down heavily on their mineral and fossil fuel resources. The situation was further exacerbated by South Africa’s high population growth rate, which at 1.64% average annual growth, resulted in a low rate of return of its capital asset base per person.

 

United Kingdom


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United Kingdom


Key Numbers

Total changes 1990-2008

 

17%

Inclusive Wealth Index

47%

Gross Domestic Product

-41%

Natural Capital

63%

Manufactured Capital

14%

Human Capital

 

Changes over 20 Years

Changes in inclusive wealth were primarily driven by increases in human and produced capital, which were the main factors that offset the decline in natural capital. However, the significant difference between IWI and GDP can partially be attributed to the decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of the United Kingdom’s inclusive wealth

Composition of the United Kingdom’s inclusive wealth

Inclusive Wealth

Inclusive wealth in the UK is quite disproportionately distributed with human capital accounting for 90 percent, followed distantly by produced and natural capital.

 

Composition of the United Kingdom’s natural capital

Composition of the United Kingdom’s natural capital

Natural Capital

At 1 percent, the UK is also amongst the countries with the lowest share of natural capital. However, the UK has experienced a significant decline in their fossil fuel base, which has contributed to the majority of the negative decline in its natural capital base. Though their oil resources are being depleted, there has been an increase in forest stocks, which increased their natural capital base and put the UK on a more sustainable trajectory.

 

United States


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United States


Key Numbers

Total changes 1990-2008

 

13%

Inclusive Wealth Index

37%

Gross Domestic Product

-20%

Natural Capital

68%

Manufactured Capital

8%

Human Capital

 

Changes over 20 Years

Changes in inclusive wealth were primarily driven by increases in produced capital, which was the main factor that offset the decline in natural capital. In addition, the significant difference between IWI and GDP may be due to the decline in natural capital.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of the United States’ inclusive wealth

Composition of the United States’ inclusive wealth

Inclusive Wealth

Human capital dominates the United State’s inclusive wealth, followed by produced and natural capital.

Composition of the United States’ natural capital

Composition of the United States’ natural capital

Natural Capital

Although the United States saw relatively large declines in minerals from 1990 to 2008, the overall changes in natural capital were substantially less, due to an increase in forest resources.

 

Venezuela


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Venezuela


Key Numbers

Total changes 1990-2008

 

-5%

Inclusive Wealth Index

22%

Gross Domestic Product

-32%

Natural Capital

-12%

Manufactured Capital

36%

Human Capital

 

Changes over 20 Years

The negative changes in IWI in Venezuela indicate an unsustainable track. In addition, Venezuela was one of the few countries that saw a decrease in produced capital in addition to a decrease in natural capital. The significant discrepancy between IWI and GDP growth indicates that GDP growth may not be sustainable. This discrepancy could be attributed to the fact that Venezuela was depleting its natural capital, specifically its oil reserves, but not increasing their produced or human capital bases fast enough to ensure positive growth in inclusive wealth. Additionally, rapid population growth further exacerbated the situation, resulting in a lower rate of return of its capital asset base per person.

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital

Overall per-capita changes in IWI, GDP, manufactured, human, and natural capital


Wealth Composition

 
Composition of Venezuela’s inclusive wealth

Composition of Venezuela’s inclusive wealth

Inclusive Wealth

Natural capital and human capital equally make up Venezuela’s inclusive wealth, followed by produced capital.

Composition of Venezuela’s natural capital

Composition of Venezuela’s natural capital

Natural Capital

In the time period assessed, Venezuela’s natural capital stock was primarily made up of fossil fuel resources, which were being depleted rapidly. In conjunction with its high population growth rate, it seems crucial that Venezuela improve its inclusive investments in produced and human capital if it intends to move on to a more sustainable track.