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| Table 2.1 GNI and Modified GNI | |||
| 2023 | 2024 | % change | |
| GNI at current prices | €390,996m | €422,827m | 8.1% |
| Modified GNI at current prices | €291,428m | €321,098m | 10.2% |
| Chain linked volume measures referenced to year 2023 | |||
| GNI at constant prices | €390,996m | €404,288m | 3.4% |
| Modified GNI at constant prices | €291,428m | €305,374m | 4.8% |
Modified Gross National Income (GNI*) at current market prices increased from €291bn in 2023, to €321bn in 2024 or expressed as a share of GDP, from 55.5% to 57.1%. In constant prices, real GNI* has increased by 4.8% in the year 2024.
Modified GNI (GNI*) is an indicator that was recommended by the Economic Statistics Review Group and is designed to exclude globalisation effects that are disproportionally impacting the measurement of the size of the Irish economy.
| GDP | GNI* | |
| 2016 | 275.9331408728 | 173.269188802512 |
| 2017 | 308.365952635 | 184.687681779622 |
| 2018 | 335.1359574974 | 191.591477529013 |
| 2019 | 363.7526270578 | 206.596055375888 |
| 2020 | 381.7286933046 | 198.283114054007 |
| 2021 | 448.4451232112 | 230.177952465768 |
| 2022 | 520.7183925554 | 266.681842781111 |
| 2023 | 524.7287518444 | 291.427583931395 |
| 2024 | 562.794208639 | 321.09835428272 |
Get the data: PxStat NA001
Figure 2.1 above shows a comparison of Gross Domestic Product, Modified GNI from 2014 to 2024.
To produce Modified GNI (GNI*) we take GNI and adjust for:
| Depreciation on R&D service imports and trade in IP | Factor Income of redomiciled companies | Depreciation on aircraft leasing | Gross National Income | Modified Gross National Income | |
| 2016 | -37.8552918558882 | -5.78006588 | -7.8518099116997 | 224.7563564501 | 173.269188802512 |
| 2017 | -44.2986426810822 | -4.456802568 | -8.4545758193955 | 241.8977028481 | 184.687681779622 |
| 2018 | -48.0870906931687 | -5.251740238 | -9.00347333341798 | 253.9337817936 | 191.591477529013 |
| 2019 | -52.9951607335916 | -5.289555458 | -9.21593650871994 | 274.0967080762 | 206.596055375888 |
| 2020 | -66.899104246602 | -4.234380596 | -9.29192684699054 | 278.7085257436 | 198.283114054007 |
| 2021 | -69.8316273681885 | -10.614131668 | -9.31719744504323 | 319.940908947 | 230.177952465768 |
| 2022 | -75.078860268893 | -4.648143081 | -9.50806682879604 | 355.9169129598 | 266.681842781111 |
| 2023 | -78.6015514978245 | -10.97714747 | -9.98938966728091 | 390.9956725665 | 291.427583931395 |
| 2024 | -80.917724878597 | -10.483746917 | -10.3275850131834 | 422.8274110915 | 321.09835428272 |
Get the data: PxStat NA001
Figure 2.2 shows the difference between GNI at current prices and Modified GNI at current prices as well as the adjustments. Most of the difference is explained by the depreciation on R&D service imports and trade in IP.
| GDP | GNI | GNI* | NNI | MDD | |
| 2016 | 322.9526052805 | 267.7973215153 | 220.1275037788 | 193.554214643142 | 203.433691464 |
| 2017 | 355.5994242493 | 283.0885645542 | 229.8868904299 | 200.290081787992 | 212.048898162 |
| 2018 | 382.9402532383 | 295.0551164295 | 235.5030077962 | 205.185453572227 | 224.306395815 |
| 2019 | 401.9834127979 | 306.8814505472 | 240.6740564418 | 208.895637678318 | 229.121039709 |
| 2020 | 430.7400804568 | 318.864508839 | 234.7716113492 | 201.93090518116 | 216.240553837 |
| 2021 | 500.7706128533 | 362.1332793977 | 267.0831737538 | 240.638023745782 | 233.705207524 |
| 2022 | 538.3841889058 | 366.5217045904 | 275.8324140866 | 241.019272665152 | 253.301823075 |
| 2023 | 524.7287518444 | 390.9956725665 | 291.4275839313 | 261.886350403234 | 268.89777112 |
| 2024 | 538.3689040455 | 404.2876475549 | 305.3737198724 | 273.560812305835 | 273.640897575 |
Get the data: PxStat NA002
Figure 2.3 above shows a comparison of GDP, GNI, NNI, Modified GNI (GNI*) and Modified Domestic Demand (MDD) at constant prices from 2016 to 2024.
Within the National Accounts framework, net national income (NNI) is an important internationally comparable measure of de-globalised economic activity. When we remove depreciation (the cost of using up capital assets) from GNI we get to NNI. In constant prices, real NNI exhibited a similar rate to GNI* at 4.5% in the year 2024.
Modified Domestic Demand (MDD), is a de-globalised measure developed in our quarterly accounts and is presented here on an annual basis for comparison.
More information on Modified Domestic Demand can be found in ANA Tables 9.5, 9.6, 9.7 and 9.8.
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