GFmag Online Readers Survey 2012
Ireland


Ireland Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Ireland; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank and Financial Services Authority of Ireland
Ireland is part of the Eurosystem and the European Central Bank
International ReservesUS$ 2.121 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 212.792 billion (2010 estimate)
GDP (Purchasing Power Parity)175.185 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
9.7%5.7%6.5%4.4%4.6%6%5.3%5.6%
2008200920102011*
-3.5%-7.6%-1%0.5%

*Estimate

GDP per capita - current pricesUS$ 47,751 (2010 estimate)
GDP per capita - PPP$39,312 International Dollars (2010 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.2%0.19%0.26%0.23%0.22%

**Forecast

GDP - composition by sector
  • agriculture: 2% 
  • industry: 29% 
  • services: 70% (2009 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)1.43% (2008)

(Data released on November 2010)

Inflation
2008200920102011*
3.1%(2008)-1.7%-1.6%0.5%

*Estimate

Unemployment rate
2008200920102011*
6.3%11.8%13.6%(2009)14.5%

*Estimate

Household saving rates9.8% (Net saving; 2011 forecast)

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
25%44.4%65.5%96.1%114.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
0.1%-7.3%-14.6%-17.7%-11.2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AA-/Negative/A-1+

Moody's rating: Aa2

Moody's outlook: RUR-

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$144.026 billionUS$49.401 billionUS$29.883 billion
Largest companies in IrelandAccenture (Software & Programming), WPP (Advertising), Covidien (Medical Equipment & Supplies), CRH (Construction Materials), Ingersoll-Rand (Conglomerates), Seagate Technology (Computer Storage Devices)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ 0.4 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP0.2% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

79.8% (2007)

(Data released on December 2010)

Shares in world total merchandising export0.77%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export2.62%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$115.7 billion f.o.b. (2010 estimate)
Export commoditiesmachinery and equipment, computers, chemicals, pharmaceuticals; live animals, animal products
Total importsUS$91.27 billion f.o.b. (2008 estimate)
Import commoditiesdata processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing
Exports - major partnersUK 18.7%, US 17.9%, Belgium 14.5%, Germany 7.4%, France 5.8% (2007)
Imports - major partnersUK 38.3%, US 11.3%, Germany 9.7%, Netherlands 5%, France 4.2% (2007)
FDI inflows
200820092010
US$-16,453 millionUS$25,960 million(2009)US$26,330 million(2009)
FDI outflows
200820092010
US$18,949 millionUS$26,616 millionUS$17,802 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$3,693 millionUS$-526 million(2009)US$2,505 million(2009)US$-5,247 million
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 9 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 11 out of 183 countries(2009)

Registering property: 78 out of 183 countries

Paying Taxes: 7 out of 183 countries

Getting credit: 15 out of 183 countries

Protecting investors: 5 out of 183 countries

Trading across border: 23 out of 183 countries

Enforcing Contracts: 37 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		29

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 7 Score: 78.7 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC 0
Total area 70,273 km2 (2006)
CapitalDublin (2009)
Currencyeuros (EUR) (2009)
Government typerepublic, parliamentary democracy (2009)
LanguagesEnglish (official) is the language generally used, Irish (Gaelic or Gaeilge) (official) spoken mainly in areas along the western coast
ReligionsRoman Catholic 87.4%, Church of Ireland 2.9%, other Christian 1.9%, other 2.1%, unspecified 1.5%, none 4.2% (2006 census)
Total population
1980199020002010*2015**
3.4 million3.51 million3.79 million4.47 million4.63 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
45.8%55.3%59.1%61.6%
Population median age34.0 years (2006)
Population growth rate0.6% (2009)
Life expectancy79 years (2007)
Adult literacyN/A
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

34.3 (2000)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

151.67% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population69.85% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Dublin: 58th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

9.8274 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS HSBC (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (2009)

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:
  • COUNTRY WINNERS Citi (National, 2012)
2011:
  • COUNTRY WINNERS Citi (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE