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IRELAND’S GROSS DOMESTIC output per capita in 2011 was 27 per cent above the European Union average, according to statistics released today.
The figures from Eurostat, the statistical office of the EU, show Ireland was behind just Luxembourg, the Netherlands and Austria in purchasing power standards.
Luxembourg has the highest level, at more than 2.5 times the EU average across 27 countries.
Finland, Belgium and Germany were between 15 per cent and 20 per cent above the average, while France and the UK were between 5 per cent and 10 per cent above.
Romania and Bulgaria, the newest members of the EU, were at between 50 per cent and 55 per cent lower than average.
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is it not gnp that matters or me being stupid
Correct a rise in GNP is a sign of growth in the domestic economy.
think GNP in Ireland is 20% less then GDP
GDP takes into account foreign companies operating here and GNP takes into account Irish companies operating abroad. I think thats the main difference.
One of the reasons why we’re in such a mess.The more money sucked out of the economy the greater the fall in GNP.
GNP = GDP – Factor Income From Abroad.
A more illuminating differentiation:
GNP = the total income earned by domestic citizens regardless of the country in which their factor services were supplied.
GDP = total value of goods and services produced in the domestic economy, calculated according to the returns received by the factors of production owned by the residents of the country, irrespective of citizenship.
It’s all from the likes of google eBay and itel and that my friends never touches Irish soil, god bless america
GDP includes multinational companies…GNP strips out the multinationals…GNP is a much truer measurement of irish economic output..:)
so i’m at a loss here. is this good news or bad news, or just a different shade of bad news? I suppose it means that we have a lot of foreign investment, which is kinda good…but then again, it doesn’t seem to be effecting our GNP, which i suppose is bad. maybe it’s all just news and I don’t have to categorise this one.
Do you FEEL any richer?
It like relationships, its always more complex than it first appears.
It’s good to see that Multi nationals are doiung well but awful concerning to see that domestic SME’s etc continue to be in free fall. SME’s account for over 90% of our private sector employment.
We are in danger of making Multi-nationals the new construction industry.
Bloody Enda Kenny!
More treacherous incompetence!
Leslie these figures are not published by the Dail
15% unemployment, how can this be so! there is plenty of money in the economy, it can’t be all doom & gloom – Fergal :-)
perhaps our truth tellers in dail eireann are not giving us the true facts Ferg.
Its the opposite Fergal too little money in the domestic ecomony.GDP includes all the profits made by multinationals whose money is repatirated to their home country.
Take for example google. their profits come from out side Ireland anyway and then they pay staff who spend it here. We also tax their profits albeit abit more tax would be good.
Sad thing is in economics is that the economy can grow with unemployment staying high. What this effectively means is that Ireland punches far above its weight for a nation of its size. nnAlthough GNP is a more accurate reader of economic health Ireland’s is still rather healthy per capita but still declining unfortunately. nnLeslie this has nothing to do with the dail!
I was shocked at how low the wages are in other countries. I was talking to a bank teller in Portugal and he informed me that he was on €650 per month. Significantly less than of dole for a 36 hour week. Major purchase items such as cars seemed even more expensive over there….
true, but then the cost of living is way less then ireland. while this doesnt necessarily include the basic commodities such as food or clothing it covers just about anything else.
rent / luxury goods from cigarettes to computer components or television sets for example.
i can only speak from my own personal experience of course.
i build computers as a hobby and i cannot recall the last time i bought so much as a cable in ireland, which is a shame as i think the economy could certainly do with encouragement to leave money in the country.
but if items are 1/3 the price in other countries like germany, the uk or holland, i dont see how ireland can be competitive in the eu market.
this is the age of e-commerce. amazon, ebay and alike expand the markets beyond local and national borders.
not good news anyway most of it is repatriated we need the money to stick around here
have your say