English

Ireland's Economy

The Irish economy is the fastest growing in the Eurozone. The Irish Government is committed to sustainable management of public finances and Ireland receives an ‘A’ grade from all major credit rating agencies.

Outlook

Ireland is a stable, competitive, secure and pro-business country
Ireland is a committed member of the EU Single Market and the Eurozone
Ireland has a highly skilled, educated, young and multicultural population

Ireland's EU Membership

Ireland is a committed member of the EU Single Market and the Eurozone and there is strong public support for Ireland's EU membership

92% think Ireland has benefitted from EU Membership
85% think that Ireland's membership of the EU is a good thing
88% support the Euro

Impact of FDI (Foreign Direct Investment) on the Irish Economy

Foreign Direct Investment has transformed Ireland over the last 70 years.

FDI Exports experienced growth of 10% and an increase of 8% in the amount spent in the Irish economy on Payroll, Materials and Services – this now stands at over €19.2bn.

Export Markets

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

GDP Growth %

Country	2017	2018 (F)	2019 (F)
IRELAND	7.2	4.7	4.0
China	6.9	6.6	6.2
Luxembourg	2.3	4.0	3.5
New Zealand	3.0	3.1	3.0
Hong Kong SAR	3.8	3.8	2.9
Australia	2.2	3.2	2.8
Korea	3.1	2.8	2.6
Netherlands	2.9	2.8	2.6
Singapore	3.6	2.9	2.5
United States	2.2	2.9	2.5
Greece	1.4	2.0	2.4
Austria	3.0	2.8	2.2
Spain	3.0	2.7	2.2
Sweden	2.1	2.4	2.2
Norway	1.9	2.1	2.1
Canada	3.0	2.1	2.0
Denmark	2.3	2.0	1.9
Germany	2.5	1.9	1.9
Finland	2.8	2.6	1.8
Portugal	2.7	2.3	1.8
Switzerland	1.7	3.0	1.8
France	2.3	1.6	1.6
Belgium	1.7	1.5	1.5
United Kingdom	1.7	1.4	1.5
Italy	1.5	1.2	1.0
Japan	1.7	1.1	0.9

Source: IMF World Economic Outlook, October 2018

Facts about Ireland 2018

Download the Facts about Ireland 2018 - PDF

More Reasons to invest

Contact us

Contact IDA Ireland

You'll find us responsive to your needs, proactive, professional and willing to go the extra mile.

Contact IDA Ireland

International Offices

We have 28 Offices worldwide helping support companies expand their operations in Ireland.

Find your nearest office