Output-side Real GDP at Current Purchasing Power Parities for Ireland
CGDPOSIEA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
496,383.50
Year-over-Year Change
83.65%
Date Range
1/1/1950 - 1/1/2019
Summary
This trend measures Ireland's real gross domestic product (GDP) adjusted for purchasing power parity (PPP). It provides a more accurate comparison of economic output across countries by accounting for differences in price levels.
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 current PPPs is a key metric for evaluating the relative size and performance of national economies. It allows analysts to assess Ireland's economic growth and living standards compared to other countries based on a common valuation of goods and services.
Methodology
The data is calculated by the OECD using expenditure-side real GDP volumes and detailed expenditure PPPs.
Historical Context
Policymakers and investors use this metric to gauge Ireland's competitiveness and potential for future growth.
Key Facts
- Ireland's real GDP at PPP was $443 billion in 2021.
- Ireland's real GDP per capita at PPP was $88,700 in 2021.
- Ireland has one of the highest real GDP per capita at PPP among OECD countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of Ireland, adjusted for differences in purchasing power parity (PPP) across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of economic output and living standards between Ireland and other countries by accounting for price level differences.
Q: How is this data collected or calculated?
A: The OECD calculates this data using expenditure-side real GDP volumes and detailed expenditure PPPs.
Q: How is this trend used in economic policy?
A: Policymakers and investors use this metric to assess Ireland's economic competitiveness and potential for future growth relative to other nations.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be delays in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Ireland (CGDPOSIEA666NRUG), retrieved from FRED.