Ireland: CIC to GDP 2010-2021

The currency flow in the Republic of Ireland decreased in recent years, as the market size of coins and banknotes decreased to roughly six percent of the country's GDP in 2019. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments.

Share of currency in circulation (CIC) to the nominal GDP of Ireland from 2010 to 2021

Characteristic	CIC/GDP ratio
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Release date

November 2022

More information

Region

Ireland

Survey time period

2010 to 2021

Special properties

The source only reports cash in circulation for EU-27 countries as "Euro Area-Wide-Residency"

Supplementary notes

The numbers provided have been calculated from two sources:

Currency in circulation in national currency from the IMF;
Nominal GDP in current prices and national currency from Eurostat.

The CIC to GDP ratio roughly reflects the overall use of cash in a country. Note, however, that this is quite general (as it looks at the overall market for cash) and does not exclusively look at the component of consumers.

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