Dimension: Dynamic economy that shares prosperity
Real net national disposable income (RNNDI) per capita
Why does this matter
Real Net National Disposable Income (RNNDI) per capita measures real income available across the economy to spend and save per person.
This is a broader measure of prosperity than the commonly cited measure of real GDP, since it also includes income of Australian residents generated overseas and excludes income of non-residents generated in Australia. This means it is more closely related to the average lived experience, and prosperity of Australians.
Has there been progress
Over the past 20 years, RNNDI per capita increased by almost 1.4 times from $48,538 in 2002‑03 to $68,092 in 2021‑22. While annual growth has fluctuated for RNNDI per capita, the average annual growth over the past two decades has been moderate at 1.8 per cent.
Annual growth has bounced back following a drop in 2019‑20 due to the COVID‑19 pandemic, although recent outcomes are being impacted by cost of living pressures.