| Economy - overview | Ireland is a small, modern, trade-dependent economy with growth averaging 6% in 1995-2006. Agriculture, once the most important sector, is now dwarfed by industry and services. Industry accounts for 46% of GDP, about 80% of exports, and 29% of the labor force. Although exports remain the primary engine for Ireland's growth, the economy has also benefited from a rise in consumer spending, construction, and business investment. Per capita GDP is 40% above that of the four big European economies and the second highest in the EU behind Luxembourg. Over the past decade, the Irish Government has implemented a series of national economic programs designed to curb price and wage inflation, reduce government spending, increase labor force skills, and promote foreign investment. Ireland joined in circulating the euro on 1 January 2002 along with 11 other EU nations. |
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| GDP | 0.9% (2005 est.) |
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| GDP - real growth rate | 6% (2006 est.) |
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| GDP - composition by sector | agriculture: 5%
industry: 46%
services: 49% (2002 est.) |
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| Population below poverty line | 10% (1997 est.) |
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Household income or consumption
by percentage share | lowest 10%: 2%
highest 10%: 27.3% (1997) |
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Distribution of family income
- Gini index | 35.9 (1996) |
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| Labor force | 2.12 million (2006 est.) |
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| Labor force - by occupation | agriculture: 8%
industry: 29%
services: 64% (2002 est.) |
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| Unemployment rate | 4.3% (2006 est.) |
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| Budget | revenues: $74.49 billion
expenditures: $73.05 billion; including capital expenditures of $5.5 billion (2006 est.) |
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| 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 |
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| Industrial production growth rate | 5% (2006 est.) |
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Electricity -
production | 23.26 billion kWh (2004) |
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Electricity -
production by source | fossil fuel: 95.9%
hydro: 2.3%
nuclear: 0%
other: 1.7% (2001) |
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Electricity -
consumption | 23.23 billion kWh (2004) |
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Electricity -
exports | 0 kWh (2004) |
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Electricity -
imports | 1.6 billion kWh (2004) |
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| Oil - production | 0 bbl/day (2004 est.) |
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| Oil - consumption | 182,400 bbl/day (2004 est.) |
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| Oil - exports | 27,450 bbl/day (2001) |
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| Oil - imports | 178,600 bbl/day (2001) |
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| Oil - proved reserves | 0 bbl (1 January 2002) |
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| Agriculture - products | turnips, barley, potatoes, sugar beets, wheat; beef, dairy products |
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| Exports | $119.8 billion f.o.b. (2006 est.) |
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| Exports - commodities | machinery and equipment, computers, chemicals, pharmaceuticals; live animals, animal products |
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| Exports - partners | US 18.5%, UK 17.4%, Belgium 15.3%, Germany 7.3%, France 6.5%, Netherlands 4.7%, Italy 4.2% (2005) |
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| Imports | $87.36 billion f.o.b. (2006 est.) |
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| Imports - commodities | data processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing |
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| Imports - partners | UK 37.1%, US 13.8%, Germany 9.2%, Netherlands 4.5% (2005) |
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| Debt - external | $1.392 trillion (30 June 2006) |
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| Currency code | EUR |
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| Exchange rates | euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002) |
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| Fiscal year | calendar year |
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