North’s GDP hits €3.6bn

The north’s gross domestic product (GDP) reached just over €3.6 billion at the end of 2023, the north’s statistics institute reported on Tuesday.

That figure corresponds to a growth of 7.3 per cent, while the north’s GDP per capita was calculated at €13,753.

Were the north a recognised country, it would place 153rd in the world in terms of its nominal GDP, between Djibouti and Sierra Leone, according to figures released by the World Bank.

In terms of per capita GDP according to the same World Bank figures, it would place 62nd in the world, between Bulgaria and Palau.

The Republic’s nominal GDP was calculated at €31.3bn, while its per capita GDP is €32,097. This places it 102nd in terms of nominal GDP and 29th in terms of per capita GDP respectively.

Broken down by sector, commerce and tourism accounted for 25.8 per cent of the north’s GDP, while public services accounted for 12.9 per cent. Communications and transport accounted for 10.4 per cent.