How Ireland Overtook the UK economyWatch this video on YouTube In the post-war period the newly independent Republic of Ireland still lagged the richer UK economy across the sea. It was a largely agragrian economy, with wages 40% the level of the UK and widespread poverty. But, over the next few decades, the Irish …
Ireland can lay claim to be the third richest country in the world. In the 1970s, Ireland was one of the poorest countries in Western Europe, largely agrarian and with real incomes that lagged its neighbour across the Irish Sea. But, then over the next few decades, the Irish economy started to grow faster than …
How The Irish Economy Overtaken Brexit Britain? Why Ireland's Economy Surpassed The UKWatch this video on YouTube In the post-war period the Republic of Ireland, stood in the shadow of its richer neighbour, with average incomes nearly three times less than the UK. Yet, over the next few decades, the Irish economy was transformed and …
GDP is gross domestic product – it is a measure of the total value of what is produced in an economy GNP is gross national product – a measure of the total income that stays in an economy. The difference is that GNP takes into account the net income flows (e.g. dividends) that are sent …
GNP and GDP both reflect the national output and income of an economy. The main difference is that GNP (Gross National Product) takes into account net income receipts from abroad. GDP (Gross Domestic Product) is a measure of (national income = national output = national expenditure) produced in a particular country. GNP (Gross National Product) …
Countries with the highest government spending as a share of GDP. The countries with the highest levels of government spending as % of GDP are predominantly Western Europe and Scandinavia in particular. The countries with the lowest government spending as a % of GDP tend to be poor developing economies. The one notable exception is …
Readers Question: Why is debt related to GDP? Debt to GDP shows how significant the debt is relative to the size of the economy. This is important because it affects The size of debt compared to tax revenues. For example in 2018, the gross level of US public debt was $21 trillion. But, with a …
Irish national debt – the total amount of Irish government debt. Irish national debt has increased to 117% of GDP in recent years because of a large financial bailout to Irish banks, deep recession which saw a 20% drop in nominal tax revenues, and continued weakness in GDP growth which has made it difficult to …