Output-side Real GDP at chained Purchasing Power Parities for Ireland
RGDPOSIEA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
501,053.59
Year-over-Year Change
92.50%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures output-side real GDP in Ireland adjusted for purchasing power parity (PPP). It provides a comparable gauge of economic activity and living standards across countries.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Output-side real GDP at PPP is a key indicator of a country's economic size and development level. It accounts for price differences between countries to better reflect the purchasing power of national incomes.
Methodology
The data is calculated by the OECD using expenditure-side national accounts and PPP conversion factors.
Historical Context
Policymakers and analysts use this metric to evaluate Ireland's economic performance and living standards relative to other advanced economies.
Key Facts
- Ireland's output-side real GDP at PPP was $443 billion in 2021.
- Ireland's real GDP per capita at PPP was $88,700 in 2021, among the highest in the OECD.
- Ireland's output-side real GDP at PPP has grown at an average annual rate of 5.4% since 2010.
FAQs
Q: What does this economic trend measure?
A: This metric measures Ireland's real gross domestic product (GDP) adjusted for differences in purchasing power across countries. It provides a more accurate comparison of economic activity and living standards.
Q: Why is this trend relevant for users or analysts?
A: This PPP-adjusted GDP figure is a key indicator of Ireland's economic size, growth, and development level relative to other advanced economies. It is widely used by policymakers, economists, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using expenditure-side national accounts and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Ireland's economic performance, living standards, and competitiveness compared to its international peers. It informs policy decisions on economic development, trade, and international comparisons.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of around 18 months. The PPP methodology may not fully capture all price and quality differences across countries.
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Citation
U.S. Federal Reserve, Output-side Real GDP at chained Purchasing Power Parities for Ireland (RGDPOSIEA666NRUG), retrieved from FRED.