Wednesday, June 30, 2010

Not just a technical difference

Ireland is one country which still pays attention to the difference between GDP & GNP.

Irish GDP grew in the first quarter of this year for the first time since the last quarter of 2007.

The rise was a very respectable 2.7%, but this is largely attributed to healthy profits of multinational companies (up by €2 billion in a year). In terms of GNP (the income which stayed with Irish residents), the picture shows a continuing decline.



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