
More evidence that measuring GDP is like polishing a turd:
From RNZ Media-watch 12 Nov:
A leading business lobby group is urging us to emulate Ireland, which had a GDP the same size as ours 30 years ago, but now has a GDP twice as big.
On his site Politik, veteran political journalist Richard Harman said National would “have to tread between two very different views of how to grow New Zealand’s economy”.
Harman said one set of figures stood out in the report: In 1990, New Zealand GDP per head was just under $US15,000 – slightly ahead of Ireland’s. By last year, Ireland’s had jumped to $US127,000, but ours was only $US52,000.
“The Emerald Isle leapt forward, leaving the Land of the Long White Cloud in its wake. Ireland now sits just below the US at sixth while New Zealand languishes at 20th,” NZ Initiative chair Roger Partridge wrote in the New Zealand Herald on their return, about what he called “prosperity’s most meaningful measure” – GDP per capita.
However on the Irish Examiner
http://www.irishexaminer.com
Ireland’s reliance on large multinational intellectual property has resulted in GDP for 2022 exceeding the EU average by over 130%.
Preliminary figures released by statistics agency, Eurostat reported Ireland as having the second-highest GDP in the EU last year, which, along with Luxembourg has far outpaced all other EU countries.
The high level of GDP per capita in Ireland can be partly explained by the presence of large multinational companies holding intellectual property,” according to Eurostat findings.
Multinationals including Apple, Facebook, Pfizer, and Google, among others alone accounted for almost 56% of the so-called total value added to the economy, up from 53% in 2021, the CSO said. Sectors dominated by multinationals, including information and communications, expanded greatly.