Thursday, March 13, 2014

13/3/2014: What was tanking, what was growing in Ireland in 2013?


Numbers may speak volumes, but a picture of two can really make the difference in understanding why the latest GDP and GNP figures for Ireland are so poor. So on foot of my more numbers-focused post (http://trueeconomics.blogspot.ie/2014/03/1332014-gdp-down-gnp-up-as-2013.html) here are two charts showing sources of changes in GDP and GNP.

Positive numbers imply positive contribution to GDP or GNP from the change in the specific sector/line output.

GDP first:


So largest increases in GDP are down to ICT services MNCs and taxes. Largest declines in GDP down to Industry (ex-construction) and Distribution Transport, Software and Communications.

GNP next:


So all of growth in GNP is down to lower expatriation of profits by MNCs and possible increases of inflows of income from abroad.
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