Comparing Wealth in Ireland and the EU
Posted on February 10, 2014 by Micheál Collins
Indicator 4.4 from the NERI’s latest Quarterly Economics Facts (QEF) document examines wealth across Europe using a measure of average net financial wealth per person. This measure, calculated using the latest data from Eurostat, captures assets such as cash, bank deposits and shares but does not include non-financial wealth such as property. The data is for 2012 – the latest year where comparable EU wide data is available.
Compared to other EU countries, the level of net financial wealth per person in the Republic of Ireland sits 15% below the EU average at €30,531 per person. It should be noted that these are net average figures, and consequently they give no indication of the distribution of wealth or the financial strain many households are experiencing. Indeed, despite a dearth in the provision of distribution data for wealth in Ireland, it is likely that wealth is at least as unequally distributed as income (see indicator 4.2a in the latest QEF).
In the latest edition of the NERI’s Quarterly Economic Facts document, indicator 4.4 examines these wealth trends and provides data for all EU countries.