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The economy of the Republic of Ireland is a highly developed knowledge economy, focused on services in high-tech, life sciences, financial services and agribusiness, including agrifood. Ireland is an open economy (3rd on the Index of Economic Freedom), [ 29 ] and ranks first for high-value foreign direct investment (FDI) flows. [ 30 ]
Ireland was a largely agrarian economy, trading almost exclusively with the UK, at the time of the Great Depression. Beef and dairy products comprised the bulk of exports, and Ireland fared well relative to many other commodity producers, particularly in the early years of the depression. [16] [17] [18] [19]
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [ 2 ] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of ...
For instance, the Irish GDP data above is subject to material distortion by the tax planning activities of foreign multinationals in Ireland. To address this, in 2017 the Central Bank of Ireland created " modified GNI " (or GNI*) as a more appropriate statistic, and the OECD and IMF have adopted it for Ireland. 2015 Irish GDP is 143% of 2015 ...
The GDP of the Republic of Ireland as of 2021 was €423.5 billion (nominal), [227] and in Northern Ireland in 2021, it was £52 billion (GVA Balanced). [228] The GDP per capita in the Republic of Ireland was €84,049.9 (nominal) as of 2021 [update] , [ 227 ] and in Northern Ireland 2021 was £27,154 (GVA Balanced). [ 228 ]
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
t. e. Ireland's economic history starts at the end of the Ice Age when the first humans arrived there. Agriculture then came around 4500 BC. Iron technology came with the Celts around 350 BC. From the 12th century to the 1970s, most Irish exports went to England. During this period, Ireland's main exports were foodstuffs.
Map of the European countries by GDP (nominal) per capita in 2021 (includes transcontinental countries) ≥ 60,000. ≥ 30,000. ≥ 10,000. < 10,000. This is a list and map of European states by GDP per capita. The figures presented do not take into account differences in the cost of living in different countries, and the results vary greatly ...