Outlook

  • The Irish economy grew 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:

  • Pharmaceuticals & Chemicals

  • Computer Services

  • Business Services

  • Financial Services & Insurance

  • Food & Beverages

  • Medical Devices

Real GDP Growth

Country2016 (F)2017 (F)2018 (F)
IRELAND4.93.23.1
UNITED STATES1.62.22.1
UNITED KINGDOM1.81.11.7
SPAIN2.62.32.0
FRANCE1.31.31.6
SWITZERLAND1.01.31.5
GERMANY1.71.41.4
NETHERLANDS1.71.61.8
PORTUGAL1.01.11.2
Source: IMF Economic Outlook 2016

Annual Inflation EU & Ireland

 2004200520062007200820092010201120122013201420152016
Ireland2.32.22.72.93.1-1.7-1.61.21.9.5.3.31.3
EU272.32.32.32.43.712.13.12.61.5.6.21.4
Source: Eurostat, * European Commission Winter Forecast, 2015

Unemployment

(% of labour force)
 201220132014 (F)2015 (F)2016 (F)
IRELAND14.713.011.210.510.1
France10.210.81110.710.3
Spain2526.425.524.924.2
Germany65.35.25.25.2
USA8.17.46.46.26.1
Netherlands5.36.97.37.16.6
UK87.66.96.66.3
Portugal15.716.315.715.114.5
Source: IMF Economic Outlook, 2014