average household 670000 euro wealth

barryl said:
I don't agree with you,imo they receive benefit not earned taxable income,not all sw recipients are looking for work some are not able to work,do you include these when calculating national average income, I doubt it
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Income is income. Of course SW should be included.
 
GDP = value of our national output of goods and services

= value of all final expenditures

= value of national income

It does not include transfer payments to households.


GDP in Ireland is approx. 180 bn euro in 2006, or approx. 40,000 per person.
 
Ok, to clarify some points: this started as a discussion of household wealth, but seems to have moved towards household incomes.

Wealth and income are NOT the same.

The income of the nation is measured by the value of our GDP. This is the value of all output produced. It is also the value of all earned incomes.

In 2006, our GDP = €174,705m or approx €175bn. This equates to €41,205 per person.

In Ireland's case, it may be better to use the GNP figures, which are €149bn in 2006, or €35,173 per person.

For data, see: [broken link removed]

Note: this is not the same as average wages, industrial wages, disposable income, etc.

Wealth is a stock of assets, whereas income is a regular flow.

To get some measure of our wealth, here is a Central Bank article on Irish household wealth:

[broken link removed]

According to the article, our estimated financial wealth in 2005 was €128bn. This, added to housing wealth of €550bn, gives a figure of approx. €675 bn.

That means an average of 160,000 per person, that includes every man, woman and child.
 
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