National Competitiveness and Productivity Council finds that modified GNI improves the Republic’s position to 12th
A view of the Dublin docklands, where several multinationals are based: The NCPC has 're-estimated' the State's innovation performance relative to other countries. Photograph: iStock
The Republic made a “marginal improvement” in the Global Innovation Index 2023 published last September, ranking 22nd among 132 economies, up from 23rd in the 2022 study but down from 19th in 2021. The NCPC said in a bulletin that “a majority of these understate Ireland’s actual performance” and it has now “re-estimated” the State’s innovation performance, finding that if modified GNI – often denoted as GNI* – had been used it would have been ranked 12th overall.Tech tidy-up: How to spring-clean the gadgets in your lifeWhen assessed in terms of GDP, the State remains below the EU average for market sophistication, with this gap increasing in 2023.
The NCPC, which makes recommendations to the Government on key competitiveness and productivity, said that using GNI* resulted in “a more accurate assessment” of the State’s relative performance in light of the “well-documented limitations” of GDP as a measure of economic activity here given the distorting effect of multinational companies on the statistics.
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