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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 .
This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.
The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured in a cost-of-living index . Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas.
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.
The Global price level, as reported by the World Bank, is a way to compare the cost of living between different countries. It's measured using Purchasing Power Parities (PPPs), which help us understand how much money is needed to buy the same things in different places. Price level indexes (PLIs), with the world average set at 100, are ...
In this article, the average wage is adjusted for living expenses "purchasing power parity" (PPP). This is not to be confused with the average income which is a measure of total income including wage, investment benefit, and other capital gains divided by total number of people in the population including non-working residents.
The island of Ireland's population has fluctuated over history. In the 18th and early 19th centuries, Ireland experienced a major population boom as a result of the Agricultural and Industrial Revolutions. In the 50-year period 1790–1840, the population of the island doubled from 4 million to 8 million.
From 2000 to 2014, Ireland's Total Gross Tax [a]-to-GDP ratio was 27–30%, versus the OECD average of 33%, and EU–27 average of 36%. [7] In October 2013, the Department of Finance Tax Policy Group , highlighted the distortion of Irish GDP impacted this metric, and Ireland's Tax-to-GNP ratio at 36% was above the OECD average, and in line with ...