Ireland’s Economy Overview

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Table of Contents

Economic Overview
Quick Features of Ireland’s Economy
Some features in Detail
Highlights of Budget 2008

Economic Overview

Ireland is a small, moderate and growing economy which is progressing rapidly with an averaging growth rate of 7% as recorded in 97-2005. It was initially an agricultural based economy but with growing trend it has been shifted to industrial sector which contributed a lot in its emergence and revival.

Economic Overview

Quick Features of Ireland’s Economy

Taoiseach (Prime Minister): Brian Cowen (2008);
Land area: 26,598 sq mi (68,889 sq km); total area: 27,135 sq mi (70,280 sq km);
Population (2008 est.): 4,156,119 (growth rate: 1.1%); birth rate: 14.3/1000; infant mortality rate: 5.1/1000; life expectancy: 78.0; density per sq km: 60;
Capital (2003 est.):Dublin, 1,018,500;
Major cities include: Cork, 193,400; Limerick, 84,900; Galway, 67,200;
Languages: English and Irish;
Civilization and Tradition: English and Celtic;
National Holiday: St. Patrick’s Day , 17th March;
GDP Growth Rate: $187.5 billion; per capita $45,600;
Real GDP Growth Rate: 5%;
Inflation Rate: 4.7%;
Un-Employment Rate: 4.2%;
Per-Capita GDP: $31,900 (2004 est.).

Quick Features of Ireland’s Economy

Some features in Detail

GDP – composition by sector: agriculture: 5% industry: 46% services: 49% (2002 est.).
Population below poverty line: 10% (1997 est.).
Unemployment rate: 4.3% (2004 est.).
Budget: revenues: $62.51 billion expenditures: $63.52 billion, including capital expenditures of $5.5 billion (2004 est.).
Development System – Under dev. : Release (n + 1).
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.

Some features in Detail