GDP / GNP Economic Growth

Gross domestic product (GDP) is the total value of all goods and services produced in an economy in a given time period.

Gross National Product (GNP) is the total value of all goods and services produced in an economy in a given time period which accrues to the residents of a country.

The difference is made up of net factor flows, which in reality includes net profit repatriation by multinationals and interest on the foreign component of the national debt. In Ireland's case, GDP is significantly larger than GNP because of the large US multinational presence here.

	GDP%	GNP%
1997	10.8	9.4
1998	8.5	7.7
1999	10.7	8.5
2000	9.2	9.5
2001	6.2	3.9
2002	6.1	2.7
2003	4.4	5.1
2004	4.5	4.0
2005	5.5	5.3
2006	5.7	6.5
2007	6.0	4.1
2008	-2.3	-3.1
2009 (estimate)	-7.0	-11.3
2010 (forecast)	-1.0	-2.0

Annual figures from CSO, forecasts from Central Bank Bulletin January 2010