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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.
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from non-resident by residents, minus factor income paid by residents to non-resident.
In 2017 Dublin ranked 1st in Ireland by disposable income per person, at 110% of the State average. [1]In 2008, it was the city with the 2nd highest wages in the world, [2] dropping to 10th place in 2009, [3] and, according to a Brookings Institution report in 2012, had the 14th highest income per capita in the world at $55,578 (€42,960).
A list of "high risk" countries for international travel was published by the Government on 26 January 2021, which included Brazil and South Africa. [235] All people travelling into Ireland from the countries on the list would be required to quarantine at a hotel for a period of 14 days. [236]
The "Leprechaun economics" incident had follow-on effects. In September 2016, Ireland became the first of the major tax havens to be "blacklisted" by a G20 economy, Brazil. [22] In February 2017, Ireland replaced GDP with "Modified GNI (or GNI*)" (2017 Irish GDP was 162% of 2017 Irish GNI*, whereas EU–28 2017 GDP was 100% of GNI).
The median price for homes that have been previously owned was $427,000, an all-time high, and a more than 20% jump from three years ago, according to data from the National Association of Realtors.
This could be the Labour Party or the Social Democrats – both securing 11 seats – or the right-leaning Independent Ireland, which won four. The two parties joined in a coalition for the first ...
(†) The Central Statistics Office (Ireland) revised 2015 GDP higher in 2017, increasing Ireland's "leprechaun economics" 2015 GDP growth rate from 26.3% to 34.4%. (‡) Eurostat show that GNI* is also still distorted by certain BEPS tools, and specifically contract manufacturing, which is a significant activity in Ireland. [3]