Gross Domestic Product (GDP) measures the total market value of all goods and services produced within a country in a given year. It is a key indicator of a nation's economic performance and health, and is used to measure the size and growth of an economy.
Why Is GDP Important?
GDP is used by policymakers, economists, and investors to assess the size and growth of an economy. Rising GDP typically indicates economic expansion, increased employment, and growing incomes. Conversly, if a country's GDP is in decline for two consecutive quarters, the country is in recession.
Ireland's Performance
Ireland’s nominal GDP has grown dramatically since the 1990s, with sharp upward trends especially noticeable after 2014. This growth reflects increased foreign direct investment, a booming tech and pharmaceutical sector, and export-driven economic expansion. Periods of flattening, such as around 2008–2010, coincide with the global financial crisis.
What Is GDP?
Gross Domestic Product (GDP) measures the total market value of all goods and services produced within a country in a given year. It is a key indicator of a nation's economic performance and health, and is used to measure the size and growth of an economy.
Why Is GDP Important?
GDP is used by policymakers, economists, and investors to assess the size and growth of an economy. Rising GDP typically indicates economic expansion, increased employment, and growing incomes. Conversly, if a country's GDP is in decline for two consecutive quarters, the country is in recession.
Ireland's Performance
Ireland’s nominal GDP has grown dramatically since the 1990s, with sharp upward trends especially noticeable after 2014. This growth reflects increased foreign direct investment, a booming tech and pharmaceutical sector, and export-driven economic expansion. Periods of flattening, such as around 2008–2010, coincide with the global financial crisis.