Outlook

  • Irish economy grew at 5.2% in 2016 - the fastest growing economy in the eurozone
  • Competitiveness has dramatically improved, driven by strong productivity growth and weak prices

Export Markets

Exports continued to grow in 2015 showing 13% growth in the first 3 quarters of 2015 compared to same period in 2014.  Overseas companies continue to be significant exporters from Ireland, with IDA clients accounting for 66% of national exports. . The country’s main markets are the EU and the USA, and the main exporting sectors are:

Real GDP Growth

 

Country 2016 (F) 2017 (F) 2018 (F)
IRELAND 4.9 3.2 3.1
UNITED STATES 1.6 2.2 2.1
UNITED KINGDOM 1.8 1.1 1.7
SPAIN 2.6 2.3 2.0
FRANCE 1.3 1.3 1.6
SWITZERLAND 1.0 1.3 1.5
GERMANY 1.7 1.4 1.4
NETHERLANDS 1.7 1.6 1.8
PORTUGAL 1.0 1.1 1.2
IMF Economic Outlook 2016

Annual Inflation EU & Ireland

 

  2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Ireland 2.3 2.2 2.7 2.9 3.1 -1.7 -1.6 1.2 1.9 .5 .3 .3 1.3
EU27 2.3 2.3 2.3 2.4 3.7 1 2.1 3.1 2.6 1.5 .6 .2 1.4
Eurostat, * European Commission Winter Forecast, 2015

Unemployment

 

  2012 2013 2014 (F) 2015 (F) 2016 (F)
IRELAND 14.7 13.0 11.2 10.5 10.1
France 10.2 10.8 11 10.7 10.3
Spain 25 26.4 25.5 24.9 24.2
Germany 6 5.3 5.2 5.2 5.2
USA 8.1 7.4 6.4 6.2 6.1
Netherlands 5.3 6.9 7.3 7.1 6.6
UK 8 7.6 6.9 6.6 6.3
Portugal 15.7 16.3 15.7 15.1 14.5
IMF Economic Outlook, 2014

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