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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), [27] and ranks first for high-value foreign direct investment (FDI) flows. [28]
The GDP of the Republic of Ireland as of 2021 was €423.5 billion (nominal), [226] and in Northern Ireland in 2021, it was £52 billion (GVA Balanced). [227] The GDP per capita in the Republic of Ireland was €84,049.9 (nominal) as of 2021 [update] , [ 226 ] and in Northern Ireland 2021 was £27,154 (GVA Balanced). [ 227 ]
This is a sortable list of all European countries by their gross domestic product in billions of US dollars at market or official government exchange rates (nominal GDP), according to the International Monetary Fund. The economic and political map of Europe also includes: Turkey, Georgia, Armenia, Azerbaijan, Cyprus and Kosovo.
According to World Bank, "GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.
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 ...
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 .
The distorted GNI to GDP ratio in some EU states indicates a profound disproportionality in corporate havens as Ireland and Luxembourg. [8] [9]In February 1994, tax academic James R. Hines Jr., identified Ireland as one of seven major tax havens in his 1994 Hines-Rice paper, [10] still [as of?] the most cited paper in research on tax havens. [11]
This article lists countries alphabetically, with total government expenditure as percentage of Gross domestic product (GDP) for the listed countries. Also stated is the government revenue and net lending/borrowing of the government as percentage of GDP. All Data is based on the World Economic Outlook Databook of the International Monetary Fund.