| Introduction - Ireland: |
| Location - Ireland: |
| People - Ireland: |
| Government - Ireland: |
| Economy - Ireland: |
Economy overview | Ireland is a small, modern, trade-dependent economy with growth averaging 6% in 1995-2006. Agriculture, once the most important sector, is now dwarfed by industry and services. Industry accounts for 46% of GDP, about 80% of exports, and 29% of the labor force. Although exports remain the primary engine for Irelands growth, the economy has also benefited from a rise in consumer spending, construction, and business investment. Per capita GDP is 40% above that of the four big European economies and the second highest in the EU behind Luxembourg. Over the past decade, the Irish Government has implemented a series of national economic programs designed to curb price and wage inflation, reduce government spending, increase labor force skills, and promote foreign investment. Ireland joined in circulating the euro on 1 January 2002 along with 11 other EU nations. |
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Gdp purchasing power parity | $180.7 billion (2006 est.) |
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Gdp official exchange rate | $204.4 billion (2006 est.) |
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Gdp real growth rate | 6% (2006 est.) |
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Gdp per capita ppp | $44,500 (2006 est.) |
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Gdp composition by sector | agriculture: 5%
industry: 46%
services: 49% (2002 est.) |
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Labor force | 2.12 million (2006 est.) |
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Labor force by occupation | agriculture: 8%
industry: 29%
services: 64% (2002 est.) |
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Unemployment rate | 4.3% (2006 est.) |
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Population below poverty line | 10% (1997 est.) |
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Household income or consumption by percentage share | lowest 10%: 2%
highest 10%: 27.3% (1997) |
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Distribution of family income gini index | 35.9 (1996) |
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Inflation rate consumer prices | 3.9% (2006 est.) |
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Investment gross fixed | 28% of GDP (2006 est.) |
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Budget | revenues: $74.49 billion
expenditures: $73.05 billion; including capital expenditures of $5.5 billion (2006 est.) |
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Public debt | 22.8% of GDP (2006 est.) |
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Agriculture products | turnips, barley, potatoes, sugar beets, wheat; beef, dairy products |
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Industries | steel, lead, zinc, silver, aluminum, barite, and gypsum mining processing; food products, brewing, textiles, clothing; chemicals, pharmaceuticals; machinery, rail transportation equipment, passenger and commercial vehicles, ship construction and refurbishment; glass and crystal; software, tourism |
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Industrial production growth rate | 5% (2006 est.) |
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Electricity production | 23.26 billion kWh (2004) |
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Electricity consumption | 23.23 billion kWh (2004) |
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Electricity exports | 0 kWh (2004) |
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Electricity imports | 1.6 billion kWh (2004) |
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Oil production | 0 bbl/day (2004 est.) |
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Oil consumption | 182,400 bbl/day (2004 est.) |
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Oil exports | 23,360 bbl/day (2004) |
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Oil imports | 204,400 bbl/day (2004) |
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Oil proved reserves | 0 bbl (1 January 2005) |
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Natural gas production | 855 million cu m (2004 est.) |
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Natural gas consumption | 4.295 billion cu m (2004 est.) |
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Natural gas exports | 0 cu m (2004 est.) |
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Natural gas imports | 3.44 billion cu m (2004 est.) |
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Natural gas proved reserves | 19.82 billion cu m (1 January 2005 est.) |
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Current account balance | -$9.45 billion (2006 est.) |
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Exports | $119.8 billion f.o.b. (2006 est.) |
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Exports commodities | machinery and equipment, computers, chemicals, pharmaceuticals; live animals, animal products |
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Exports partners | US 18.8%, UK 17.4%, Belgium 15.9%, Germany 7.5%, France 5.6%, Italy 4.1% (2006) |
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Imports | $87.36 billion f.o.b. (2006 est.) |
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Imports commodities | data processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing |
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Imports partners | UK 37.3%, US 11.6%, Germany 9.5%, Netherlands 4.6% (2006) |
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Reserves of foreign exchange and gold | $842.5 million (August 2006 est.) |
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Economic aid donor | ODA, $607 million (2004) |
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Debt external | $1.392 trillion (30 June 2006) |
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Currency code | euro (EUR)
note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries |
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Exchange rates | euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002) |
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| Communications - Ireland: |
| Transportation - Ireland: |
| Military - Ireland: |
This page was last updated on 16 September, 2007
