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Ireland is an open economy (3rd on the Index of Economic Freedom), [27] and ranks first for high-value foreign direct investment (FDI) flows. [28] In the global GDP per capita tables, Ireland ranks 2nd of 192 in the IMF table and 4th of 187 in the World Bank ranking. [29] [30] Social expenditure stood at roughly 13.4% of GDP in 2024.
Historical GDP per capita development of Ireland and the UK. The economic history of the Republic of Ireland effectively began in 1922, when the then Irish Free State won independence from the United Kingdom. [2] The state was plagued by poverty and emigration until the 1960s when an upturn led to the reversal of long term population decline ...
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [1] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates.
The GDP per capita showed similar variations with London having a GDP per head of £56,000 compared with the North East of England at £23,000 in 2024. [ 3 ] Different regions also see different rates of unemployment; in early 2024, the average UK unemployment rate was 4.3%, ranging from the East Midlands at 5.6% to Northern Ireland at 2.1%.
This is a list of estimates of the real gross domestic product growth rate (not rebased GDP) in European countries for the latest years recorded in the CIA World Factbook. The list includes all members of the Council of Europe and Belarus apart from those countries with GDP growth estimates older than 2014.
For much of the period, the Irish economy provided cheap raw materials such as timber, beef, vegetables, and marble to the far more industrialised British economy. Ireland underwent major highs and lows economically during the 19th century: from economic booms during the Napoleonic Wars [citation needed] and in the late 20th century (when it ...
Liz Young, Sofi Head of Investment Strategy breaks down the recent strength of the U.S. dollar.
On the whole, PPP per capita figures are less spread than nominal GDP per capita figures. [5] The rankings of national economies over time have changed considerably; the economy of the United States surpassed the British Empire's output around 1916, [6] which in turn had surpassed the economy of the Qing dynasty in aggregate output decades earlier.