national income

American  

noun

1. 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.

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national income British  

noun

1. 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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Etymology

Origin of national income

First recorded in 1875–80

Example Sentences

Cocoa accounts for about 7% of Ghana's GDP, or national income, and the beans' export makes up around 15% of the country's foreign exchange earnings.

From BBC

On defence spending, Sir Tony called on the government to "resolve" its promise to spend 3.5% of national income on defence by 2035, a promise made at the Nato summit last year.

From BBC

In the event, none reached the 0.1% of national income threshold.

From BBC

She told MPs debt would continue to fall as a share of national income and the amount of headroom will double to £21.7bn.

From BBC

These rules mean her plans must be projected to get government debt falling as a share of national income by 2029-30, and day-to-day government costs must be paid for by tax income rather than borrowing.

From BBC