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World > Europe > Ireland > Economy (Facts)

Ireland - Economy (Facts)
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.
GDP - real growth rate: 6% (2006 est.)
GDP (purchasing power parity): $180.7 billion (2006 est.)
GDP (official exchange rate): $204.4 billion (2006 est.)
GDP - per capita (PPP): $44,500 (2006 est.)
GDP - composition by sector: agriculture: 5%
industry: 46%
services: 49% (2002 est.)
Population below poverty line: 10% (1997 est.)
Household income or consumption by percentage share: lowest 10%: 2%
highest 10%: 27.3% (1997)
Inflation rate (consumer prices): 3.9% (2006 est.)
Labor force: 2.12 million (2006 est.)
Labor force - by occupation: agriculture: 8%
industry: 29%
services: 64% (2002 est.)
Unemployment rate: 4.3% (2006 est.)
Budget: revenues: $74.49 billion
expenditures: $73.05 billion; including capital expenditures of $5.5 billion (2006 est.)
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
Industrial production growth rate: 5% (2006 est.)
Electricity - production: 23.26 billion kWh (2004)
Electricity - consumption: 23.23 billion kWh (2004)
Electricity - exports: 0 kWh (2004)
Electricity - imports: 1.6 billion kWh (2004)
Oil - production: 0 bbl/day (2004 est.)
Oil - consumption: 182,400 bbl/day (2004 est.)
Oil - exports: 23,360 bbl/day (2004)
Oil - imports: 204,400 bbl/day (2004)
Oil - proved reserves: 0 bbl (1 January 2005)
Natural gas - production: 855 million cu m (2004 est.)
Natural gas - exports: 0 cu m (2004 est.)
Natural gas - imports: 3.44 billion cu m (2004 est.)
Agriculture - products: turnips, barley, potatoes, sugar beets, wheat; beef, dairy products
Exports: $119.8 billion f.o.b. (2006 est.)
Exports - commodities: machinery and equipment, computers, chemicals, pharmaceuticals; live animals, animal products
Exports - partners: US 18.8%, UK 17.4%, Belgium 15.9%, Germany 7.5%, France 5.6%, Italy 4.1% (2006)
Imports: $87.36 billion f.o.b. (2006 est.)
Imports - commodities: data processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing
Imports - partners: UK 37.3%, US 11.6%, Germany 9.5%, Netherlands 4.6% (2006)
Debt - external: $1.392 trillion (30 June 2006)
Currency: Euro (EUR)

Current Euro Exchange Rates
Historical Euro Exchange Rates
Chart Euro Exchange Rates
Currency code: EUR
Exchange rates: euros per US dollar - 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003), 1.0626 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - Euro Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
Euro Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Foreign Relations
Relations with U.S.





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