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Irish among the wealthiest in Europe despite recession

New figures show Irish consumers still paying more

CATHY HAYES,

IrishCentral Staff Writer

Published Wednesday, December 21, 2011, 8:06 AM

Updated Wednesday, December 21, 2011, 10:55 AM

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Ireland's' Central Bank in Dublin

Photo by Google Images

Despite high unemployment and mass emigration, Irish citizens remain among the wealthiest in Europe, according to the latest figures from the European statistics office Eurostat.

Research shows that Ireland has the third highest GDP per capita in the EU in 2010.

The data was calculated in terms of how much expendable income is available for purchasing power standards, where were listed at 128 percent.
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Ireland’s GDP is just behind the Netherlands at 116 percent, however there is a clear downward trend between 2008 and 2010, when it fell that more than 13 percent.

During the period of 2008-2010 Ireland has experienced the biggest decline, alongside Estonia, Latvia and Lithuania, and Iceland.

The figures also show that consumers in Ireland are still paying 20 percent more than their average EU counterpart for goods and services.

Nster.com

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11 Comments

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joycean | Dec 22, 2011, 03:24 PM EST

This article reads as if the writer didn't even try to make sense of the article he was basing this on. Ireland's GDP was 128 for 2009, 2010. However, Its AIC (Actual Individual Consumption) for those years was 103, 102).That means Ireland is sitting just about on the EU average: 100, neither among the wealthiest nor poorest.

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BARNEYKX | Dec 22, 2011, 04:41 AM EST

I take it you mean irish polititions when you say that,but you should ask the man in the street and see what answer you get

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ciaradexy | Dec 21, 2011, 06:26 PM EST

The last government should all be hanged.

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sirpeter | Dec 21, 2011, 05:28 PM EST

ciaradexy.I know the landlords will put it onto the rents if they can.It's going to be tough times ahead for a lot people.Your guess is as good as mine when it comes to where all this is going.If the Euro goes under Ireland is in big trouble.I know that for a fact.

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ciaradexy | Dec 21, 2011, 01:41 PM EST

awoken32-next year? We have 3 years left of this crowd.

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ciaradexy | Dec 21, 2011, 01:40 PM EST

Sirpeter-if you rent you still have to pay the new tax. That is gonna shoot up over the next few years. We pay stamp duty, tax, PRSI and levies. Where is all that going? Im not seeing anything for my money. I have mates who have lost their jobs but most of them are unskilled and a lot have moved home to live with family. €200 a week payment for this is pretty good. My mates who are professionals have emigrated if they lost their jobs or couldnt find work after college. We will get back on track but it wont be under FF, FG or Labour.

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awoken32 | Dec 21, 2011, 11:29 AM EST

Money cannot by everything ie culture,mass immigration needs to be halted an reversed,next year will see the rise of a real party

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sirpeter | Dec 21, 2011, 11:03 AM EST

@IrelandNorth.If you don't own a house you don't have to pay it.Those on Mortgage Interest Supplement will also be exempt.As of 2011, the average annual levy on a property in England was £1,196.They also only get £57.45 a week on welfare for a single people aged 25 or over.Compare that to the €100!!I think we are getting off lightly.So far!!But that could change.

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IrelandNorth | Dec 21, 2011, 09:36 AM EST

Depends what you mean by "Irish citizens". This particular Irish citizen i sno better (or worse) off that he was since he was born 55 yrs. ago. It's easy for Tea-shock Enda Kenny to pay the E2 household charge p/w out of E200,000.00 p/a than for someone on welfare of -E200 p/w.

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LoyalCitizen | Dec 21, 2011, 09:10 AM EST

Dubious figures about dubious people.......An awful lot of something worth nothing is still an awful lot of something worth nothing.

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sirpeter | Dec 21, 2011, 08:49 AM EST

Well Ireland is one of the PIGS of the EU.We keep our money in Piggy Banks. ;))

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