List of countries by GDP (nominal)
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.
Modified gross national income
By 2014, Irish GDP had inflated to 130% of Irish GNI, whereas for the EU–28 aggregate , GDP is equal to GNI. In October 2016, Ireland announced that GDP rose 26.3% in 2015, implying Irish GDP was over 150% of Irish GNI. The 2015 growth was due to Apple's Q1 2015 restructuring of its hybrid–double Irish BEPS tool, then under investigation by the EU Commission for illegal avoidance of Irish taxes during 2004–2014, into a new capital allowances for intangible assets Irish BEPS tool (known as the "Green Jersey"). Nobel Prize-winning economist, Paul Krugman, labeled the 2015 GDP growth, since revised to 34.4%, as "leprechaun economics".