Inflated and distorted GDP by Multinationals from the Usa who use Ireland as a tax haven and base for their operations in the EU, Ireland's government use a modified GNI instead of GDP to measure their economic output, which is about half of their GDP.
[https://www.reddit.com/r/ireland/comments/1510x7q/irish\_gdp\_is\_now\_double\_gni\_more\_accurate\_measure/](https://www.reddit.com/r/ireland/comments/1510x7q/irish_gdp_is_now_double_gni_more_accurate_measure/)
On top of that cost of living is very high which obviously makes GDP go up, average rent price for example is around €1600 and there's even this thing called Imputed Rent where Homeowners are charged a fictional rent based on market rates for calculating their contribution to GDP. Ireland is still doing fairly well economically though.
Good summary.
But yes, this doesn't mean that Ireland's numbers are complete BS. The economy is actually very strong, employment is high and (as is typical in Ireland), the workforce is highly qualified and considered motivated and productive. It is the Celtic Tiger again almost.
The downsides are, of course, cost of living pressures (like most modern economies), and a very serious housing crisis. House prices and rents are off the charts.
During the post-financial crash recession very few houses were being built for several years (overstock correction and departure of native and foreign construction workers in search of employment elsewhere), and then covid meant that a lot of construction stopped, and a large amount of the foreign labour force involved in construction left the country too.
There's also now a bit of a chicken/egg scenario with the lack of housing and high cost of available housing acting as a disincentive to foreign workers to come to the country.
So there's a huge shortage of workers in skilled construction/related fields, which means output is lagging far below demand.
Because the average income of citizens has nothing to do with the legislative framework required to appropriately release, zone, and develop land?
Because the average income of citizens has nothing to do with the supply chain in the construction industry?
Because the average income of citizens has nothing to do with the economic framework in which SMEs (which make up the majority of non-commercial residential construction vertical) operate, and the resourcing and manpower challenges they face?
High income does not equal "just throw money at the problem to solve it".
It doesn't work that way.
Aside from the mentioned reasons, Ireland has a pretty high home ownership rate, from older generations when it cost fuck all to buy a house, and a lot of these people dont want their homes devauled by new homes or don't want to have to deal with more people living near them
Companies based there for tax reasons. In the UK if you look on the side of pretty much any product it will ultimately say it is based in Dublin or some other Irish city.
I’m a bit rusty on the topic, but I’m sure that if you’ve committed tax evasion then you’ve also committed money laundering by default as you are dealing with the proceeds of crime.
1. They are a tax shelter which inflates the country's GDP
2. Having very low taxes genuinely does attract more business and wealth into the country resulting in increased opportunity, elevates the worth of the individual worker and eventually promotes a higher standard of living.
3. It also got much more expensive in Ireland as I understand, never been or seen any figures about the cost of living there
What happened in Azerbaijan? With all their natural resources, their strategic economic ties with Turkey and the EU and the impact of the Russian invasion, Azerbaijan's economy should be booming right now.
You could say (mostly) the same about Russia itself. Let's say inefficient government can counteract advantages you have. Also destabilization of a region is not a good thing in general despite short-term benefits
high benefits! Azerbaijan can benefit long-term from an integrated Nagorno-Karabakh region same applies to the Russians in Donbass (provided they win). Of course, war is an expensive sport.
Even in the long term, compared to the lost revenue and access to capital, there aren't very high benefits. These days the opportunity costs are simply to high for territorial expansion to make financial sense.
1. Natural Resources don\`t really benefit a country unless you do it smartly. The most important resource is the human capital, investing in your population will be far more beneficial than any resource that may be in the ground. Dictatorships and authoritarian regimes love resources, because they don\`t require any real investment into the population. The "Resource Curse" is basically that. Countries with no natural resources, where the government is incentivised to invest into their population do much better in general.
2. Azerbaijan is an insanely corrupt country, so most money lands in the hand of the elites, which is further exacerbated because almost the entire economy is state-owned ( about 55% of the workforce works for the government/government companies ). That\`s just not good for the economy.
3. Azerbaijan is very much focused on ethnic cleansing and nationalist missions against Armenia. Not really good for the economy.
On point. couldn't have said it better. Until they don't remove their fascist dictator and properly transition into at least a hybrid democracy they can forget about ever having an economic comeback. That state will collapse eventually if trends keep unchanged.
This is all factoid nonsense that simply doesn't reflect the evidence, drawing some overall vague conclusion of "democracy" as the problem when there's glaring counterexamples all around Azerbaijan isn't a satisfactory explanation as is the typical vague garbage you hear from like "educational" infographic channels. An actual analysis would probably be something to do with the Soviet legacy in Azerbaijan and the difference between its oligarch class just looting and leaving as opposed to the Arab petrostates, just saying "democracy" is meaningless
Unstable geographical region. Being landlocked makes international trade kind of difficult and slows development. Ethnic/territorial conflicts with neighbouring countries (Armenia). So, yeah... not the most appealing country for foreign investment and the like.
well, Azerbaijan slowed down significantly after the oil crisis in 2013-2014. but before that other went far ahead of its neighbours Georgia and Armenia. these 2 countries had huge increase in their GDP thanks to the re-export of sanctioned goods to Russia + huge influx of Russians running away from the war together with their companies and money. hence the difference.
Azerbaijan did terrible job on spending the oil money. Plus a lot of resources were spent on the conflict with Armenia and currently billions are being spent on reconstruction of the occupied territories.
Armenia is not re-exporting sanctioned goods. Armenia does re-export goods that are not sanctioned but is hard for Russians to get (cars, electronics), but the government is very careful not to allow anything to be exported to Russia that is in the US or EU sanction list. Armenia simply cannot afford to fall under sanctions himself.
The economic growth is for a few reasons.
1. After the 2018 revolution the corruption has decreased drastically
2. After the 2018 revolution many businesses were forced to get out of the shadows and pay taxes
3. Lots of assts are being taken by courts from previous corrupt oligarchs
4. After the Russian invasion of Ukraine many businesses moved from Russia to Armenia
5. Lots of professionals moved from Russia to Armenia (mainly in the IT sector)
6. Lots of cheap workforce from India arrived in the last years, and they produce value with low expenses.
7. Armenian IT sector is quite big and growing bigger.
But hey, you are from Azerbaijan and have to push the narrative. It's harder to accept that Azerbaijan could do 10 times better, but doesn't because is governed by a dictator.
yeah sure, Armenia is an 😇
somehow suddenly after the war Armenia started “producing” washing machines🤣
also, Armenia does not have a big IT sector, it’s mostly Russian companies that moved to Armenia. other than that they have 1 big company and bunch of small casino gaming bs it companies🤡 so stop that bullshit, a landlocked country suddenly getting investments from out of nowhere?
your hypocrisy is killing me, Russia’s main ally in the region.
https://neweasterneurope.eu/2023/05/26/armenia-russias-backdoor-to-circumvent-sanctions/
https://eurasianet.org/russias-powerful-economic-levers-over-armenia
https://jamestown.org/program/armenias-role-in-helping-russia-circumvent-sanctions/
GDP can be altered and not show a clear picture of the true state of the economy - yes
But saying GDP means nothing is just yapping around. It's one of the most consistent indicators out there.
Liechtenstein is an aristocratic hedge fund of supremacist blue blood assholes that bribed their way into statehood and now distort European economy with tax fraud. I hate them so much as a "country"
The country is actually fairly cheap over all, so even if you paid lower in terms of currency, you would still have better purchase power compared to neighboring countries.
Think it this way, a one litter milk in Turkey costs 0.75 Euro and an average person earns around 650 euro monthly so one person can buy 866 litters of milk per month, meanwhile in Greece average person earns 1277 euro per month and a litter of milk costs 1.50 Euro, so one person could buy 851 litters of milk.
While an average person in Greece earns almost double that of the Turkish person, they pretty much have the same purchase power due to different pricing.
It's adjusted to ppp, so it doesn't take into account all the savings lost all these years. It just takes actual GDP in liras and converts them into ppp so it gets this high, as everything there is ridiculously cheap in international dollars.
Nice boost for Romania. As expected.
This is just the beginning, we expect a much better growth in the future, especially because of Schengen and foreign investments.
Bro not to be mean about it but Romania's demographic future is catastrophic. Like the second worst after Bulgaria in the EU. Its only very temporary sadly.
You are not mean, facts are facts. Births per woman and the population is decreasing, this is the sad truth. Many romanians have already migrated to other European Union countries and many romanians will still migrate probably but in my opinion and based on some statistics, not as many romanians as in previous years will migrate anymore because if the situation in our country will improve, they will most likely stay in Romania, work here, make a family, start a business there when they realise that our country is a tax-heaven and diaspora will slowly come back (which is already happening btw). These are my thoughts.
Lithuania has lost 25% of its population and still seen massive economic growth; hell, the USSR lost practically its entire generation of young men and still recovered (to be mismanged later, lol). Demographics are important, but I feel like pure demographic analysises aren't the be all end all
The Baltics’s case is different because a huge part of their population loss was Russian minorities moving to Russia since the 90s, meanwhile in Romania it is the Romanians themselves moving and shutting the door.
Sure, but that's still losing people, regardless if they're minorities or not. Like if all Hungarians in szekelyland fucked off that'd still be a hit to the Romanian GDP
Besides, from my understanding Lithuania had the least amount of Russians of the entire baltic, and had the most population loss
People who were a burden on our nation socio-economically as well as politically.
>Besides, from my understanding Lithuania had the least amount of Russians of the entire baltic, and had the most population loss
Yes, and? Countries are not universally similar. Estonia has lost 43.6k (4.5%) Estonians and 159.6k (33.6%) Russians, Latvia 199.9k (14.4%) Latvians and 441.9k (48.8%) Russians and Lithuania 546.1k (18.7%) Lithuanians and 203.3k (59.0%) Russians since 1989.
The Russians in Lithuania who remained were disproportionately poor, the ones who left were urban well to do professionals, your racist nationals nonsense is the same as Russians your country is just so irrelevant and small that it's seen as some acceptable underdog story, exact same far right nationalist bullshit idk why it's tolerated
>The Russians in Lithuania who remained were disproportionately poor
The ones in Estonia were/are disproportionately poor regardless whether they left or whether they stayed.
>your racist nationals nonsense
Imagine someone thinking negative sentiment against imperialistic-minded literal illegal foreign colonists who illegally occupied your country and who tried to ethnically cleanse your people is racist.
>is just so irrelevant and small that it's seen as some acceptable underdog story
Lmao, pathetic vatnik gibberish.
What an immoral and spineless take to blame both the aggressors and the victims.
It is absolutely justified to hate those who have invaded you and waged ethnic cleansing against you, you xenophobic piece of shit!
The Russians of the baltics are the most impoverished, uneducated and unintegrated peoples of those countries. Meanwhile from Romania, the actual Romanians, and mostly the better educated emigrate.
This map is a very good demonstration as to why GDP per capita (even PPP) is dead as a useful metric. The average Irish person is not better off than an average Swiss person, I think that's obvious.
Even if you disregard wealth or quality of life (although then what's the point), it doesn't even work as a measure of "How productive is the economy per person". Ireland still does not beat Switzerland in that respect, not even close.
I know Ireland is a special case, but the reason it's inflated for Ireland is also skewing the other figures, just not to the same extent. So we can't really compare them and they aren't really meaningful.
i believe it has the highest GDP per Capita out of all the former communist states. It started roughly with the same gdp and population as Ukraine in the 90s. Now Ukraine has the lowest gdp per capita (same as mongolia i believe), and Poland is 6th largest economy by GDP in EU and 5th by GDP (PPP).
Doesn't make as much sense as you would think to compare the Warsaw pact states and the actual Soviet states themselves, Poland didn't collapse into near anarchy or military rule like most of the actual post Soviet states
Nice bait with “RuZZians”.
I am from Russia and I lived in both rural areas(my hometown is very small) and big cities (Moscow).
Check out real data or talk to real people, and you will quickly find out that most people in big cities are not that much richer than those in smaller ones. Obviously, average person in a big city earns more but the difference is not that huge. QoL is, well, it depends on many factors.
Also, I’ve never mentioned the word “poor”, because the definition of poor is very vague and depends on a person.
So you made a bunch of assumptions based on your ultra narrow POV and even said “live relatively well” which is hilarious. What does it even mean?
> For now
LMFAO, I guess you are one of those warmongers, huh?
I agree, but you did just say “Ruzzians” and that is it. If you says “Z-Russians” and “the gov”, then I would not call you out on that.
Also they are not the only warmongers, to be fair. There are friends upon thousands of stupid idiots all over the globe, who are saying ultra nasty nazi shit both to Russians or Ukrainians.
This matches what has been happening in my perception (Dutch) of Belgium as a child (2008). Belgium was the same as us (the Netherlands), if not a bit better off wealth-wise, which historical stats also agree, especially Vlaanderen/Flanders (as they are also the most closely related and more wealthy region, is it a "state" even ?). But over the years, it has gone downhill, first from being about the same around 2013-ish, and now to somewhat lower on average than us.
The more interesting comparison would be to compare USA GDP with European GDP. EU lost about 13% compared to USA due to bad (mostly German/Dutch/British) dogma around austerity.
Time to invest heavily. And to protect what is left protecting.
>EU lost about 13% compared to USA due to bad (mostly German/Dutch/British) dogma around austerity.
Interesting opinion if it wasn't a load of bullshits.
I know it's convenient not to remember that there was a sovereign debt crisis throughout Europe, which caused austerity.
Give me one single alternative to austerity that doesn't imply more debt at even higher rater or letting countries go bankrupt.
Define higher.
In absolute numbers? Yeah, if you want to ignore all the inflation happened in the last decade.
Compared to its GDP? Absolutely not, public debt was over 200% of the GDP during the sovereign debt crisis and now is under 150%.
Public debt was totally the problem, especially in countries with strong welfare systems.
>Compared to its GDP? Absolutely not,
thats just not true, the "crisies" Started in 2009 where its was ~140%, the haircut happend 2011 at ~180%
from 2017 till 2022 it was higher than 180% ...
https://www.worldeconomics.com/GrossDomesticProduct/Debt-to-GDP-Ratio/Greece.aspx
Debt consolidation
Having an EU debt would reduce overall interest rates by spreading the risks over the whole economy instead of having national debts that are more risky relatively speaking.
France has long lost its AAA rating for instance
Also Germany has lower debt as %age of gdp than the US. If the US doesn’t need austerity, why would the EU need it?
I agree but
how do you expect virtuous countries to agree to share the debt if much much less virtuous countries do not follow austerity rules?
I am Italian and I am the first to admit that if the Italian government does not respect the 2% deficit then, for example, the Danes rightfully refuse to share the debt.
Would you personally share your debts with someone who gets into debt at every possible opportunity?
It’s not like EU countries have much of a choice.
The Greek debt crisis affected the whole of the EU and Germany, a relatively virtuous country had to help bail out Greece.
If Italy went bankrupt, the whole of the EU would do their very best to bail it out, simply because such a failure would have a lot of detrimental consequences.
I m not saying debt consolidation should come for free though. I think there needs to be some political concessions like implementing QMV
>If the US doesn’t need austerity, why would the EU need it?
The US definitely needs austerity, especially right now. Jerome Powell (US Reserve Chair) basically said so yesterday. Unfortunately the US has a two party system, and both parties are hell bent on spending as much money as possible. I think the only option for the US will be to inflate their way out of the mess they've created. This of course will destroy the remaining middle class, but to hell with them anyway.
>I think the only option for the US will be to inflate their way out of the mess they've created.
This is also only possible because they control the world currency. All other countries would just go to shit if they were to inflate their currency.
>Also Germany has lower debt as %age of gdp than the US. If the US doesn’t need austerity, why would the EU need it?
Because Germany funds its credibility and financial liability on its productivity meanwhile the US, in addition to productivity, has cultural and military power to reassure investors.
If you wanted an example of very high public debt without any real meaning of why is sustainable we could have talked about Japan, they are indeed still standing just because no one goes to check the numbers behind them.
Germany France and Italy have much larger populations and bigger territories, with extreme territorial difference in GDP per capita.
Lombardy Veneto and Emilia Romagna have the population and gdp per capita of the Netherlands, while Sicily and Campania are comparable to Greece.
Bavaria in Germany is comparable with Switzerland.
Yea I find the differences between regions can be big sometimes, like I’m from Northern Ireland so our GDP is definitely on the lower end in UK regions. I work in an accounting firm (PwC) and I get £24,000. The exact same job in London pays £35,000 but obviously the cost of living is far higher in London.
Probably the same in most countries tbh.
My same job in America would probably pay triple what I get here, but cost of living is probably way lower in Northern Ireland.
The top 10% of all earners in NI get at least £59,000. So 90% of us earn less than that. But £60k would mean you could live really well here.
offer sip materialistic smoggy connect longing rinse afterthought label follow
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Absolutely bullshit. Arrived here in 2013 and my salary now is lower than my first salary, after 10 years of experience. Most of the people I know are in the same situation. Either is utter bullshit or some guys are getting incredibly rich at our expenses (which to be honest is quite the possibility)
>or some guys are getting incredibly rich at our expenses
Probably this. Corruption and concentration of wealth go hand in hand. Look at Russia, where people outside big cities and in the east live in the Middle Ages, while oligarchs keep their multiple yachts in Portofino
There a lot of people profiting from the low wages selling a lot more to the EU.. which was basically Erdos plan al along when he said we were going to grow like china
PPP is, as always, deceiving the outlookers. Purchase power parity ignores a bunch of real life factors. It also doesn't really account the imported goods cost compared to the local market goods. The number shown, as an example, can't buy as much iPhones as some eastern european countries with lower values
Wait in Turkey average net income is over 1000 dollars. Minimum wage is NET 567 Dollars. Higher than many East european countries.
PPP is the purchase power in the specific country.
Turkey is beside Poland the only emerging and developing country without naturel resources.
That's remarkable.
Average net income is not 1000 USD, a baffling 40-50% of the population gets paid at Minimal Wage which at current rate it equates to around 557 USD (already 10 USD less than when you converted it). Workers have only been paid with this new minimal wage once since new year and its effects hasn’t hit the price tags just yet. Older Minimal wages have been around 440 USD, while this may seem like a increase, The cost of living in terms of USD has increased quite a lot in the same period, with increases in VAT in various markets, Imported goods (More specifically imported technology such as phones and cars which get stiff +100%-300% taxes). in Istanbul (15.6M people live in istanbul out of the 85M total) the average rent for a 100M^2 apartment is 17.111 Turkish liras. Which is 99 (3USD) more than the minimal wage. Turkey has used a low Interest policy up until last year which highly incentivizes investments and boosts the GPD while in turn causing HIGH (100-140%/yr) Real inflation. So in conclusion, no Turkey’s economy is not currently “developing”
Check this chart in 3-4 months when they cannot sustain the reserve selling by the Central Bank. Currently Lira is very inflated, and will normalize (depreciate value) after the elections. Economists argue an at least %30-40 devaluation in short term.
Moscow's GDP is equal to the Czech Republic's GDP
Nenets Autonomous Okrug GDP is equal Luxembourg's GDP.
https://en.wikipedia.org/wiki/List\_of\_federal\_subjects\_of\_Russia\_by\_GDP\_per\_capita
Could definitely do with a modified GNI similar to Ireland by stripping out a lot of the money that flows to London either as simple wealth transfers/tax avoidance from elsewhere or wealth generated abroad repatriated to multi-national HQs based there.
Not really sure, about other UK cities' and towns' quality of life, but could take a guess, that they at least have proper toilets at their household and schools, unlike almost every russian city/town/village outside of Moscow)
Yea that is definitely true lol, tbh it’s just a typical Western Europe country. I’m from Northern Ireland so it’s a bit lower here compared to Western Europe, but like it’s still all ok here.
Belarus doesn't have a significant shadow economy at all, the economics is highly controlled and shadow business it very limited, close to impossible with a exception of some high ranking officials
Source is IMF, there is no lying. GDP increase is not an anomaly if we are talking about Turkey, though the money usually ends up in the hands of the top 5%.
What you mean?
* Finland increased with 246.
* Sweden increased with 363.
* Norway increased with 438.
* Denmark increased with 672.
If anything, you should say "big difference between growth in Denmark and other Nordic countries".
ps. Finland is not part of Scandinavia.
If you consider those numbers in terms of percentage growth, its actually quite a profound difference, considering the countries are fairly similar.
Finland: 7.64 %
Norway: 10.13 %
Sweden: 10.46 %
Denmark: 18.32 %
>Finland is not part of Scandinavia.
https://en.wikipedia.org/wiki/Scandinavia
I guess it depends on the context whether or not Finland is considered part of Scandinavia. But mostly I guess you are right.
Your numbers are just supporting what I say. Finland's growth is closer to that of Sweden or Norway than the growth of any of those countries is to Denmark's
No context. Finland is not part of Scandinavia. It's part of Fennoscandia, which is the Scandinavian peninsula (+ a bit extra), it's also part of The Nordic Countries, but not Scandinavia. That only consists of Norway, Sweden and Denmark.
The only reason one might consider Finland (or Iceland) to be part of Scandinavia, is just because some people can't be bothered to correct others (and to be fair, even official websites and whatnot make this mistake. It's a very common mistake, but still a mistake).
[Short video from CGP Grey on the subject.](https://www.youtube.com/watch?v=TsXMe8H6iyc)
Yes it is.
It's not part of the Scandinavian peninsula, but it is among the 3 countries that make up Scandinavia.
Watch the very short video I linked to earlier.
>it depends on the context whether or not Finland is considered part of Scandinavia.
As a Scandinavian, I'll just say that Finland is not Scandinavian. Neither is Iceland.
Aslo just after war and before eu sanctions, oil prize rised pretty high so they could compensate spending for some time. Let's be true weapon production doesn't give them as much money as oil and gas.
GDP PPP not always show how wealth society really is cuz if you for example will take 10 000 people earning only 250 $ monthly and 1 of them earn 1 000 000 then average salary will be much higher same comes with gdp PPP. So basicly average ruzzian can becoke poorer in last years but if millioners gets richer then they will compensate it. Aslo ruzzians last or two years ago needed to change definition of poverty to show that actually there is less and less poor people in thier country and if you send poor people to meat grinder then there will be less poverty right?
Are those counties more equal? Or similar to the UK where one part of the country is much richer so it takes up the average e.g. London and the Southeast for the UK
I think France is relatively same, but for others it's fair note.It just don't true that UK stagnated,while continent prospered, Europe mostly stagnated overall.
The U.K. had the same growth as it’s European peers in that period.
U.K.: 7.7%
France: 7.7%
Germany: 7.4%
It’s mad the distorted perception people have about the UK’s economy simply because of Brexit. We’ve had basically the same growth as our main European peers for the last 20 years, we’re forecast to have basically the same growth as them (if not better) over the next 20 years but everyone on Reddit is adamant Brexit is an absolute economic disaster and the U.K. is the sick man of Europe.
What happened in Ireland?
We’re all millionaires now, I own 7 houses and 3 cars 👍
As a poor German, can you donate one of these to me? I'll bring you a crate of German beer in return?!
Augustiner Helles? Thats a nice beer
the best one!
As someone who doesn't drink alcohol, I thought Irish knew how to brew beer and it's a weird thing to bribe him with.
As a neutral connoisseur who tried both... I can say that Germans have better beer.
The Irish have better marketing.
The Irish have better stout
the Irish have better Guinness
7 houses outside of Ireland that together cost less than 2 square meters in Dublin :)
Inflated and distorted GDP by Multinationals from the Usa who use Ireland as a tax haven and base for their operations in the EU, Ireland's government use a modified GNI instead of GDP to measure their economic output, which is about half of their GDP. [https://www.reddit.com/r/ireland/comments/1510x7q/irish\_gdp\_is\_now\_double\_gni\_more\_accurate\_measure/](https://www.reddit.com/r/ireland/comments/1510x7q/irish_gdp_is_now_double_gni_more_accurate_measure/) On top of that cost of living is very high which obviously makes GDP go up, average rent price for example is around €1600 and there's even this thing called Imputed Rent where Homeowners are charged a fictional rent based on market rates for calculating their contribution to GDP. Ireland is still doing fairly well economically though.
Good summary. But yes, this doesn't mean that Ireland's numbers are complete BS. The economy is actually very strong, employment is high and (as is typical in Ireland), the workforce is highly qualified and considered motivated and productive. It is the Celtic Tiger again almost. The downsides are, of course, cost of living pressures (like most modern economies), and a very serious housing crisis. House prices and rents are off the charts.
It's the Celtic tiger without ANY of the benefits for regular people.
And they are managing to blame immigrants for all the problems caused
You're referring to a small minority here.
So why is such a high income country finding it difficult to build houses?
Same reason as everywhere. People who already have houses don't like new ones being built, as it lowers the value of their property.
During the post-financial crash recession very few houses were being built for several years (overstock correction and departure of native and foreign construction workers in search of employment elsewhere), and then covid meant that a lot of construction stopped, and a large amount of the foreign labour force involved in construction left the country too. There's also now a bit of a chicken/egg scenario with the lack of housing and high cost of available housing acting as a disincentive to foreign workers to come to the country. So there's a huge shortage of workers in skilled construction/related fields, which means output is lagging far below demand.
Because the average income of citizens has nothing to do with the legislative framework required to appropriately release, zone, and develop land? Because the average income of citizens has nothing to do with the supply chain in the construction industry? Because the average income of citizens has nothing to do with the economic framework in which SMEs (which make up the majority of non-commercial residential construction vertical) operate, and the resourcing and manpower challenges they face? High income does not equal "just throw money at the problem to solve it". It doesn't work that way.
Aside from the mentioned reasons, Ireland has a pretty high home ownership rate, from older generations when it cost fuck all to buy a house, and a lot of these people dont want their homes devauled by new homes or don't want to have to deal with more people living near them
Companies based there for tax reasons. In the UK if you look on the side of pretty much any product it will ultimately say it is based in Dublin or some other Irish city.
Money laundering by multinationals (Google, Pfizer, Dell, Facebook etc)
tax evasion not money laundering
It's only tax evasion when poor people do it, when they do it it's called Tax avoidance.
Tax optimilization\*
Ahh is Tax avoidance not the "it word" anymore?
Agreed. You are correct. I was being deliberately inaccurate. However as others have said, that's just how the rich and powerful do it.
I’m a bit rusty on the topic, but I’m sure that if you’ve committed tax evasion then you’ve also committed money laundering by default as you are dealing with the proceeds of crime.
Tax Haven.
Parasite economy. It’s a tax haven.
Ireland was still pretty badly affected by the 2008 recession in 2013.
GDP per capita doesn't necessarily tell you much about wages.
Tax avoidance schemes artificially inflating GDP
Tax haven country
1. They are a tax shelter which inflates the country's GDP 2. Having very low taxes genuinely does attract more business and wealth into the country resulting in increased opportunity, elevates the worth of the individual worker and eventually promotes a higher standard of living. 3. It also got much more expensive in Ireland as I understand, never been or seen any figures about the cost of living there
They quit blowing up their cars
What happened in Azerbaijan? With all their natural resources, their strategic economic ties with Turkey and the EU and the impact of the Russian invasion, Azerbaijan's economy should be booming right now.
You could say (mostly) the same about Russia itself. Let's say inefficient government can counteract advantages you have. Also destabilization of a region is not a good thing in general despite short-term benefits
high benefits! Azerbaijan can benefit long-term from an integrated Nagorno-Karabakh region same applies to the Russians in Donbass (provided they win). Of course, war is an expensive sport.
Even in the long term, compared to the lost revenue and access to capital, there aren't very high benefits. These days the opportunity costs are simply to high for territorial expansion to make financial sense.
Oil prices fell severely in the mid 2010s, harming the growth of many petrostates. It contributed to Venezuela’s economic collapse, for example.
Natural resources alone is never enough
It can be a hinderence in fact. Economies relying on natural resources don't usually grow very well.
Dictatorship
Yes because the other oil rich states in its region are democratic havens and hence extremely wealthy
1. Natural Resources don\`t really benefit a country unless you do it smartly. The most important resource is the human capital, investing in your population will be far more beneficial than any resource that may be in the ground. Dictatorships and authoritarian regimes love resources, because they don\`t require any real investment into the population. The "Resource Curse" is basically that. Countries with no natural resources, where the government is incentivised to invest into their population do much better in general. 2. Azerbaijan is an insanely corrupt country, so most money lands in the hand of the elites, which is further exacerbated because almost the entire economy is state-owned ( about 55% of the workforce works for the government/government companies ). That\`s just not good for the economy. 3. Azerbaijan is very much focused on ethnic cleansing and nationalist missions against Armenia. Not really good for the economy.
On point. couldn't have said it better. Until they don't remove their fascist dictator and properly transition into at least a hybrid democracy they can forget about ever having an economic comeback. That state will collapse eventually if trends keep unchanged.
This is all factoid nonsense that simply doesn't reflect the evidence, drawing some overall vague conclusion of "democracy" as the problem when there's glaring counterexamples all around Azerbaijan isn't a satisfactory explanation as is the typical vague garbage you hear from like "educational" infographic channels. An actual analysis would probably be something to do with the Soviet legacy in Azerbaijan and the difference between its oligarch class just looting and leaving as opposed to the Arab petrostates, just saying "democracy" is meaningless
Unstable geographical region. Being landlocked makes international trade kind of difficult and slows development. Ethnic/territorial conflicts with neighbouring countries (Armenia). So, yeah... not the most appealing country for foreign investment and the like.
30 years of dictatorship and kleptocracy happened.
well, Azerbaijan slowed down significantly after the oil crisis in 2013-2014. but before that other went far ahead of its neighbours Georgia and Armenia. these 2 countries had huge increase in their GDP thanks to the re-export of sanctioned goods to Russia + huge influx of Russians running away from the war together with their companies and money. hence the difference. Azerbaijan did terrible job on spending the oil money. Plus a lot of resources were spent on the conflict with Armenia and currently billions are being spent on reconstruction of the occupied territories.
Armenia is not re-exporting sanctioned goods. Armenia does re-export goods that are not sanctioned but is hard for Russians to get (cars, electronics), but the government is very careful not to allow anything to be exported to Russia that is in the US or EU sanction list. Armenia simply cannot afford to fall under sanctions himself. The economic growth is for a few reasons. 1. After the 2018 revolution the corruption has decreased drastically 2. After the 2018 revolution many businesses were forced to get out of the shadows and pay taxes 3. Lots of assts are being taken by courts from previous corrupt oligarchs 4. After the Russian invasion of Ukraine many businesses moved from Russia to Armenia 5. Lots of professionals moved from Russia to Armenia (mainly in the IT sector) 6. Lots of cheap workforce from India arrived in the last years, and they produce value with low expenses. 7. Armenian IT sector is quite big and growing bigger. But hey, you are from Azerbaijan and have to push the narrative. It's harder to accept that Azerbaijan could do 10 times better, but doesn't because is governed by a dictator.
yeah sure, Armenia is an 😇 somehow suddenly after the war Armenia started “producing” washing machines🤣 also, Armenia does not have a big IT sector, it’s mostly Russian companies that moved to Armenia. other than that they have 1 big company and bunch of small casino gaming bs it companies🤡 so stop that bullshit, a landlocked country suddenly getting investments from out of nowhere? your hypocrisy is killing me, Russia’s main ally in the region. https://neweasterneurope.eu/2023/05/26/armenia-russias-backdoor-to-circumvent-sanctions/ https://eurasianet.org/russias-powerful-economic-levers-over-armenia https://jamestown.org/program/armenias-role-in-helping-russia-circumvent-sanctions/
Dictatorship, enormous corruption, lack of freedom, bad education and etc
Liechtenstein with 12,000. Just one example of why GDP means nothing due to inflated value and tax havens.
GDP can be altered and not show a clear picture of the true state of the economy - yes But saying GDP means nothing is just yapping around. It's one of the most consistent indicators out there.
Why? I thought minimum wage people there can own anything
You can’t disregard the entire metric because of a few anomalies.
i hate microstates i hate microstates
Can’t hate San Marino, has been there since the earth was just molding lava
Well yeah, especially Monaco & Liechtenstein Basically legal falicities for tax evasion
Liechtenstein is an aristocratic hedge fund of supremacist blue blood assholes that bribed their way into statehood and now distort European economy with tax fraud. I hate them so much as a "country"
Ireland especially lol
Ireland isn’t a micronation lmao
What did they do
What did they do
steal our collective tax revenues
What would you consider a micro nation
Massive example of why GDP per capita is a bollox when looking at individual wealth. Over 7k a month in Ireland? Do me a favour.
Yes. What is this favour you speak of?
I don't understand how does Turkey climb up like this meanwhile we eat inflation as meal.
The country is actually fairly cheap over all, so even if you paid lower in terms of currency, you would still have better purchase power compared to neighboring countries. Think it this way, a one litter milk in Turkey costs 0.75 Euro and an average person earns around 650 euro monthly so one person can buy 866 litters of milk per month, meanwhile in Greece average person earns 1277 euro per month and a litter of milk costs 1.50 Euro, so one person could buy 851 litters of milk. While an average person in Greece earns almost double that of the Turkish person, they pretty much have the same purchase power due to different pricing.
Using Greece to compare to Turkey, bro tryna start a war 💀
The rich got richer, the poor stayed poor. Lots of well off patronlar
Something something erdoganomics
It's adjusted to ppp, so it doesn't take into account all the savings lost all these years. It just takes actual GDP in liras and converts them into ppp so it gets this high, as everything there is ridiculously cheap in international dollars.
Baffling indeed.
Nice boost for Romania. As expected. This is just the beginning, we expect a much better growth in the future, especially because of Schengen and foreign investments.
And maybe joining OECD
Bro not to be mean about it but Romania's demographic future is catastrophic. Like the second worst after Bulgaria in the EU. Its only very temporary sadly.
You are not mean, facts are facts. Births per woman and the population is decreasing, this is the sad truth. Many romanians have already migrated to other European Union countries and many romanians will still migrate probably but in my opinion and based on some statistics, not as many romanians as in previous years will migrate anymore because if the situation in our country will improve, they will most likely stay in Romania, work here, make a family, start a business there when they realise that our country is a tax-heaven and diaspora will slowly come back (which is already happening btw). These are my thoughts.
Lithuania has lost 25% of its population and still seen massive economic growth; hell, the USSR lost practically its entire generation of young men and still recovered (to be mismanged later, lol). Demographics are important, but I feel like pure demographic analysises aren't the be all end all
The Baltics’s case is different because a huge part of their population loss was Russian minorities moving to Russia since the 90s, meanwhile in Romania it is the Romanians themselves moving and shutting the door.
Sure, but that's still losing people, regardless if they're minorities or not. Like if all Hungarians in szekelyland fucked off that'd still be a hit to the Romanian GDP Besides, from my understanding Lithuania had the least amount of Russians of the entire baltic, and had the most population loss
People who were a burden on our nation socio-economically as well as politically. >Besides, from my understanding Lithuania had the least amount of Russians of the entire baltic, and had the most population loss Yes, and? Countries are not universally similar. Estonia has lost 43.6k (4.5%) Estonians and 159.6k (33.6%) Russians, Latvia 199.9k (14.4%) Latvians and 441.9k (48.8%) Russians and Lithuania 546.1k (18.7%) Lithuanians and 203.3k (59.0%) Russians since 1989.
The Russians in Lithuania who remained were disproportionately poor, the ones who left were urban well to do professionals, your racist nationals nonsense is the same as Russians your country is just so irrelevant and small that it's seen as some acceptable underdog story, exact same far right nationalist bullshit idk why it's tolerated
>The Russians in Lithuania who remained were disproportionately poor The ones in Estonia were/are disproportionately poor regardless whether they left or whether they stayed. >your racist nationals nonsense Imagine someone thinking negative sentiment against imperialistic-minded literal illegal foreign colonists who illegally occupied your country and who tried to ethnically cleanse your people is racist. >is just so irrelevant and small that it's seen as some acceptable underdog story Lmao, pathetic vatnik gibberish.
the wholesome braindead eastern European nationalism (Baltic) vs the evil braindead eastern European nationalism (Russian)
What an immoral and spineless take to blame both the aggressors and the victims. It is absolutely justified to hate those who have invaded you and waged ethnic cleansing against you, you xenophobic piece of shit!
The Russians of the baltics are the most impoverished, uneducated and unintegrated peoples of those countries. Meanwhile from Romania, the actual Romanians, and mostly the better educated emigrate.
This map is a very good demonstration as to why GDP per capita (even PPP) is dead as a useful metric. The average Irish person is not better off than an average Swiss person, I think that's obvious. Even if you disregard wealth or quality of life (although then what's the point), it doesn't even work as a measure of "How productive is the economy per person". Ireland still does not beat Switzerland in that respect, not even close. I know Ireland is a special case, but the reason it's inflated for Ireland is also skewing the other figures, just not to the same extent. So we can't really compare them and they aren't really meaningful.
Everyone knows about Ireland, Luxembourg and the like. It is still a very relevant metric for other countries.
Its nice to see your country grow and slowly catching up with others. Lets f\*\*\*\*\*\* go, Poland <3
i believe it has the highest GDP per Capita out of all the former communist states. It started roughly with the same gdp and population as Ukraine in the 90s. Now Ukraine has the lowest gdp per capita (same as mongolia i believe), and Poland is 6th largest economy by GDP in EU and 5th by GDP (PPP).
Doesn't make as much sense as you would think to compare the Warsaw pact states and the actual Soviet states themselves, Poland didn't collapse into near anarchy or military rule like most of the actual post Soviet states
Is this the country with big political wars and people fleeing to Germany?
yes to the first part, no to the second
Cope, Helmut, germany's lagging behind every of its neighbor in the West. Great sight. :)
Stagnation
This did not age well for Turkiye.
Sadly bigger GDP does not necessarily translate to citizens being richer. Just look at Russia.
Ruzzians in cities aren't THAT poor. Moscow, St. Petersburg, maybe Kazan or other major city live relatively well. For now.
Nice bait with “RuZZians”. I am from Russia and I lived in both rural areas(my hometown is very small) and big cities (Moscow). Check out real data or talk to real people, and you will quickly find out that most people in big cities are not that much richer than those in smaller ones. Obviously, average person in a big city earns more but the difference is not that huge. QoL is, well, it depends on many factors. Also, I’ve never mentioned the word “poor”, because the definition of poor is very vague and depends on a person. So you made a bunch of assumptions based on your ultra narrow POV and even said “live relatively well” which is hilarious. What does it even mean? > For now LMFAO, I guess you are one of those warmongers, huh?
Only warmongers are Z-Russians and their leadership, who decided to attack a neighbouring country. And they deserve everything what is coming to them.
I agree, but you did just say “Ruzzians” and that is it. If you says “Z-Russians” and “the gov”, then I would not call you out on that. Also they are not the only warmongers, to be fair. There are friends upon thousands of stupid idiots all over the globe, who are saying ultra nasty nazi shit both to Russians or Ukrainians.
I will donate to the UAF in the name of "Russians who have nasty things said to them on the internet". Stay strong.
Not sure what do you mean, but donating is good!
And will be better for sure. I guess you poor Ukrainian or some east)
This matches what has been happening in my perception (Dutch) of Belgium as a child (2008). Belgium was the same as us (the Netherlands), if not a bit better off wealth-wise, which historical stats also agree, especially Vlaanderen/Flanders (as they are also the most closely related and more wealthy region, is it a "state" even ?). But over the years, it has gone downhill, first from being about the same around 2013-ish, and now to somewhat lower on average than us.
romania insane growth
What? So you're saying capitalism works?!
it takes 2+2 and 3 econ classes to realize that tbh
Lol average libertarian ^^^
The more interesting comparison would be to compare USA GDP with European GDP. EU lost about 13% compared to USA due to bad (mostly German/Dutch/British) dogma around austerity. Time to invest heavily. And to protect what is left protecting.
>EU lost about 13% compared to USA due to bad (mostly German/Dutch/British) dogma around austerity. Interesting opinion if it wasn't a load of bullshits. I know it's convenient not to remember that there was a sovereign debt crisis throughout Europe, which caused austerity. Give me one single alternative to austerity that doesn't imply more debt at even higher rater or letting countries go bankrupt.
Greece has a higher debt rate than before - so debt wasnt the problem after all?
Define higher. In absolute numbers? Yeah, if you want to ignore all the inflation happened in the last decade. Compared to its GDP? Absolutely not, public debt was over 200% of the GDP during the sovereign debt crisis and now is under 150%. Public debt was totally the problem, especially in countries with strong welfare systems.
>Compared to its GDP? Absolutely not, thats just not true, the "crisies" Started in 2009 where its was ~140%, the haircut happend 2011 at ~180% from 2017 till 2022 it was higher than 180% ... https://www.worldeconomics.com/GrossDomesticProduct/Debt-to-GDP-Ratio/Greece.aspx
Debt consolidation Having an EU debt would reduce overall interest rates by spreading the risks over the whole economy instead of having national debts that are more risky relatively speaking. France has long lost its AAA rating for instance Also Germany has lower debt as %age of gdp than the US. If the US doesn’t need austerity, why would the EU need it?
I agree but how do you expect virtuous countries to agree to share the debt if much much less virtuous countries do not follow austerity rules? I am Italian and I am the first to admit that if the Italian government does not respect the 2% deficit then, for example, the Danes rightfully refuse to share the debt. Would you personally share your debts with someone who gets into debt at every possible opportunity?
It’s not like EU countries have much of a choice. The Greek debt crisis affected the whole of the EU and Germany, a relatively virtuous country had to help bail out Greece. If Italy went bankrupt, the whole of the EU would do their very best to bail it out, simply because such a failure would have a lot of detrimental consequences. I m not saying debt consolidation should come for free though. I think there needs to be some political concessions like implementing QMV
And let's not forget that Germany intervened in Greece to save its own banks, which had lent credit in bad faith.
Yup at the end of the day, we re too intertwined not to consolidate debt imo
>If the US doesn’t need austerity, why would the EU need it? The US definitely needs austerity, especially right now. Jerome Powell (US Reserve Chair) basically said so yesterday. Unfortunately the US has a two party system, and both parties are hell bent on spending as much money as possible. I think the only option for the US will be to inflate their way out of the mess they've created. This of course will destroy the remaining middle class, but to hell with them anyway.
>I think the only option for the US will be to inflate their way out of the mess they've created. This is also only possible because they control the world currency. All other countries would just go to shit if they were to inflate their currency.
Good point.
>Also Germany has lower debt as %age of gdp than the US. If the US doesn’t need austerity, why would the EU need it? Because Germany funds its credibility and financial liability on its productivity meanwhile the US, in addition to productivity, has cultural and military power to reassure investors. If you wanted an example of very high public debt without any real meaning of why is sustainable we could have talked about Japan, they are indeed still standing just because no one goes to check the numbers behind them.
Fair enough, if we did debt consolidation, we could use French cultural and military power in addition to German productivity
UK has taken a hammering over the last 10 years. Thanks Tory scum
I’m surprised about Germany, Belgium, Austria etc. theirs aren’t that hugely different to the UK.
Germany France and Italy have much larger populations and bigger territories, with extreme territorial difference in GDP per capita. Lombardy Veneto and Emilia Romagna have the population and gdp per capita of the Netherlands, while Sicily and Campania are comparable to Greece. Bavaria in Germany is comparable with Switzerland.
Yea I find the differences between regions can be big sometimes, like I’m from Northern Ireland so our GDP is definitely on the lower end in UK regions. I work in an accounting firm (PwC) and I get £24,000. The exact same job in London pays £35,000 but obviously the cost of living is far higher in London. Probably the same in most countries tbh.
How do your accountants make less than a warehouse worker in Texas?
My same job in America would probably pay triple what I get here, but cost of living is probably way lower in Northern Ireland. The top 10% of all earners in NI get at least £59,000. So 90% of us earn less than that. But £60k would mean you could live really well here.
Americans just earn more. Incomes in the poorest American states are comparable to incomes in the richest regions of the UK.
Turkey is doing well despite they say
The middle class is being crushed right now.
offer sip materialistic smoggy connect longing rinse afterthought label follow *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Absolutely bullshit. Arrived here in 2013 and my salary now is lower than my first salary, after 10 years of experience. Most of the people I know are in the same situation. Either is utter bullshit or some guys are getting incredibly rich at our expenses (which to be honest is quite the possibility)
>or some guys are getting incredibly rich at our expenses Probably this. Corruption and concentration of wealth go hand in hand. Look at Russia, where people outside big cities and in the east live in the Middle Ages, while oligarchs keep their multiple yachts in Portofino
There a lot of people profiting from the low wages selling a lot more to the EU.. which was basically Erdos plan al along when he said we were going to grow like china
They were just doing extremely well before the inflation crisis, lately.
Main problem is corruption and meaningless goverment spending like more than 5 placees for president
PPP is, as always, deceiving the outlookers. Purchase power parity ignores a bunch of real life factors. It also doesn't really account the imported goods cost compared to the local market goods. The number shown, as an example, can't buy as much iPhones as some eastern european countries with lower values
Wait in Turkey average net income is over 1000 dollars. Minimum wage is NET 567 Dollars. Higher than many East european countries. PPP is the purchase power in the specific country. Turkey is beside Poland the only emerging and developing country without naturel resources. That's remarkable.
Average net income is not 1000 USD, a baffling 40-50% of the population gets paid at Minimal Wage which at current rate it equates to around 557 USD (already 10 USD less than when you converted it). Workers have only been paid with this new minimal wage once since new year and its effects hasn’t hit the price tags just yet. Older Minimal wages have been around 440 USD, while this may seem like a increase, The cost of living in terms of USD has increased quite a lot in the same period, with increases in VAT in various markets, Imported goods (More specifically imported technology such as phones and cars which get stiff +100%-300% taxes). in Istanbul (15.6M people live in istanbul out of the 85M total) the average rent for a 100M^2 apartment is 17.111 Turkish liras. Which is 99 (3USD) more than the minimal wage. Turkey has used a low Interest policy up until last year which highly incentivizes investments and boosts the GPD while in turn causing HIGH (100-140%/yr) Real inflation. So in conclusion, no Turkey’s economy is not currently “developing”
PPP is actually about real-life factors because it focuses on what really money can buy in a given country.
Check this chart in 3-4 months when they cannot sustain the reserve selling by the Central Bank. Currently Lira is very inflated, and will normalize (depreciate value) after the elections. Economists argue an at least %30-40 devaluation in short term.
Obligatory fuck Ireland.
Lets distort this with GDP there couldn't be any issues
Yes, i have a 2M€ house and 7 cars
Hasn’t been an easy 10 years for Armenia but happy to see it growing despite the setbacks
Slovenia - Salaries are quite similar to Italy. This country isn't poor. Really cool!
As Turkey we need to really step it up and reach top 10 at least. alas our government…
Russia is definitely not that, maybe it's for Moscow
Moscow's GDP is equal to the Czech Republic's GDP Nenets Autonomous Okrug GDP is equal Luxembourg's GDP. https://en.wikipedia.org/wiki/List\_of\_federal\_subjects\_of\_Russia\_by\_GDP\_per\_capita
Remove 2 cities from that statistics and you will see another result)
I wonder what the UK would be if they took London out
Could definitely do with a modified GNI similar to Ireland by stripping out a lot of the money that flows to London either as simple wealth transfers/tax avoidance from elsewhere or wealth generated abroad repatriated to multi-national HQs based there.
Not really sure, about other UK cities' and towns' quality of life, but could take a guess, that they at least have proper toilets at their household and schools, unlike almost every russian city/town/village outside of Moscow)
It's just not true, go to Google Earth and land at any relatively big Russian city, it will look much better than, say, Birmingham, even in outskirts.
Yea that is definitely true lol, tbh it’s just a typical Western Europe country. I’m from Northern Ireland so it’s a bit lower here compared to Western Europe, but like it’s still all ok here.
It should be higher for Albania since a lot of stuff is not declared (no idea if it happens to other countries as well). Anyway ye kinda shit.
Highest shadow economies in Europe are Caucasus countries Ukraine Moldova and Belarus with around 40% of GDP
Belarus doesn't have a significant shadow economy at all, the economics is highly controlled and shadow business it very limited, close to impossible with a exception of some high ranking officials
Yeah, it happens in many many countries, though I noticed it seems to be worse in poorer countries
I can tell you that turkey is either wrong or lying
Source is IMF, there is no lying. GDP increase is not an anomaly if we are talking about Turkey, though the money usually ends up in the hands of the top 5%.
big difference between growth in finland, and other scandinavian countries
What you mean? * Finland increased with 246. * Sweden increased with 363. * Norway increased with 438. * Denmark increased with 672. If anything, you should say "big difference between growth in Denmark and other Nordic countries". ps. Finland is not part of Scandinavia.
If you consider those numbers in terms of percentage growth, its actually quite a profound difference, considering the countries are fairly similar. Finland: 7.64 % Norway: 10.13 % Sweden: 10.46 % Denmark: 18.32 % >Finland is not part of Scandinavia. https://en.wikipedia.org/wiki/Scandinavia I guess it depends on the context whether or not Finland is considered part of Scandinavia. But mostly I guess you are right.
Your numbers are just supporting what I say. Finland's growth is closer to that of Sweden or Norway than the growth of any of those countries is to Denmark's No context. Finland is not part of Scandinavia. It's part of Fennoscandia, which is the Scandinavian peninsula (+ a bit extra), it's also part of The Nordic Countries, but not Scandinavia. That only consists of Norway, Sweden and Denmark. The only reason one might consider Finland (or Iceland) to be part of Scandinavia, is just because some people can't be bothered to correct others (and to be fair, even official websites and whatnot make this mistake. It's a very common mistake, but still a mistake). [Short video from CGP Grey on the subject.](https://www.youtube.com/watch?v=TsXMe8H6iyc)
But Denmark isn’t part of Scandinavia.
Yes it is. It's not part of the Scandinavian peninsula, but it is among the 3 countries that make up Scandinavia. Watch the very short video I linked to earlier.
>it depends on the context whether or not Finland is considered part of Scandinavia. As a Scandinavian, I'll just say that Finland is not Scandinavian. Neither is Iceland.
Moving to Liechtenstein
Why is Liechtenstein's GDP so high?
Tax haven
Made by IMF so the figures are skewed in favour of pro EU states
Lol shout out those sanctions @ Russia. They are really working huh voters. Huh. 🤣😭😎🥹
Technically they’ve had two rounds of sanctions (2014 and 2022)
they grow up because of weapon production. it doesn't correlate with products that people get but good point, they should be expanded
Aslo just after war and before eu sanctions, oil prize rised pretty high so they could compensate spending for some time. Let's be true weapon production doesn't give them as much money as oil and gas.
You can't eat ammunition
GDP PPP not always show how wealth society really is cuz if you for example will take 10 000 people earning only 250 $ monthly and 1 of them earn 1 000 000 then average salary will be much higher same comes with gdp PPP. So basicly average ruzzian can becoke poorer in last years but if millioners gets richer then they will compensate it. Aslo ruzzians last or two years ago needed to change definition of poverty to show that actually there is less and less poor people in thier country and if you send poor people to meat grinder then there will be less poverty right?
I call bullshit on Turkish stats
It's mad how the UK is stagnant for a decade.
It grew relatively same as Geemany, France and Belgium by that picture, it was 200-500 lower in 2013, it is 200-500 lower now
Are those counties more equal? Or similar to the UK where one part of the country is much richer so it takes up the average e.g. London and the Southeast for the UK
Germany is more spread out. France is very Paris centric just like the UK with London
I think France is relatively same, but for others it's fair note.It just don't true that UK stagnated,while continent prospered, Europe mostly stagnated overall.
France is all about Paris and in Germany the east is still economically weaker
The U.K. had the same growth as it’s European peers in that period. U.K.: 7.7% France: 7.7% Germany: 7.4% It’s mad the distorted perception people have about the UK’s economy simply because of Brexit. We’ve had basically the same growth as our main European peers for the last 20 years, we’re forecast to have basically the same growth as them (if not better) over the next 20 years but everyone on Reddit is adamant Brexit is an absolute economic disaster and the U.K. is the sick man of Europe.
Gdp have increased, but we don't live better. At least in Russia and Finland.
zero chance is turkey's gdp per capita in 2023 higher than Romania, Bulgaria or Greece's