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

88% believe that Ireland has benefitted from EU membership
83% are positive about EU Membership

Eurobarometer March 2019/August 2019

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

IDA Ireland’s client companies continue to have a hugely positive effect on the Irish economy with over eight jobs being created for every 10 jobs in an FDI company.

Multinational Companies (MNCs) invest directly into the Irish economy approx. €19.2bn including expenditure on Irish materials and services totalling €7.5bn, and an annual payroll spend of €11.7bn. In addition, MNCs inject capital expenditure of €5.7bn approx. on new buildings and machinery and equipment leading to high levels of employment in the construction sector.

A significant portion of the record corporation tax take (approx. two thirds) can also be attributed to the thriving IDA supported FDI sector in Ireland.

Export Markets

Overseas companies continue to be significant exporters from Ireland, with IDA clients accounting for 67% of national exports in 2017 (€189bn). 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 %

The Irish economy is the fastest growing in the Eurozone

Country	2018	2019 (F)	2020 (F)
IRELAND	6.8	4.1	3.4
Hong Kong SAR	3.0	2.7	3.0
Singapore	3.2	2.3	2.4
New Zealand	3.0	2.5	2.9
Netherlands	2.5	1.8	1.7
United States	2.9	2.6	1.9
Norway	1.4	2.0	1.9
United Kingdom	1.4	1.3	1.4
Switzerland	2.5	1.1	1.5
Japan	0.8	0.9	0.4
Italy	0.9	0.1	0.8

Source: IMF World Economic Outlook, April 2019/July 2019

Facts about Ireland 2019

Facts about Ireland including information on the economy, workforce, government, employment, corporate tax rate, competitiveness, infrastructure and more.

Download the Facts about Ireland 2019 - PDF

Economy Resources

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Ireland's Economy

Outlook

Ireland's EU Membership

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

Export Markets

GDP Growth %

Facts about Ireland 2019

Economy Resources

IDA Ireland achieves all targets in ‘Winning – Foreign Direct Investment 2015-2019’ Strategy

Facts About Ireland 2019

New Strategy for IDA Ireland

Five tips for rapid international business expansion

IDA Ireland reports strong Half-Year Results

70 Companies have invested in Ireland as a result of Brexit

Facts About Ireland 2018

More Reasons to invest

Contact us

Contact IDA Ireland

International Offices