Irish Gross National Product (GNP) at constant prices was 4.9% lower in year to September 2008
Dec 18th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Gross National Product (GNP) at constant prices was 4.9 per cent lower in the year to September 2008 compared with the third quarter of 2007. Gross Domestic Product (GDP) was marginally higher (0.1 per cent) for the same period. The profits of foreign owned enterprises which in Q3 2008 were €1.0bl higher than a year earlier are included in GDP but excluded from GNP. This increase combined with other changes in net foreign income flows explains the large divergence between GDP and GNP growth rates, according to the CSO. The timing of the income flows can be variable on a quarterly basis.