Includes Ireland real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Ireland economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Ireland best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Dublin
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Central Bank of Ireland |
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Currency |
Euros (EUR) |
International Reserves |
USD 7.46 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 516.25 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 561.46 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 8.9% 2018 9% 2019 4.9% 2020* 5.9% 2021* 13% *Estimate |
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GDP per capita – current prices |
USD 102,394.02 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 111,359.65 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total | 0.39% (2021 estimate) |
GDP – composition by sector |
agriculture: 0.9% industry: 38.0% services: 54.8% (2018) |
Gross domestic expenditure on R&D; (% of GDP) |
1.2% (2019) OECD, retrieved January 2022 |
Inflation |
2017 0.3% 2018 0.7% 2019 0.9% 2020* -0.5% 2021* 1.9% *Estimate |
Ireland
Inflation & Debt
Inflation |
2017 0.3% 2018 0.7% 2019 0.9% 2020* -0.5% 2021* 1.9% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: A+ Moody’s: A2 Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017 6.7% 2018 5.8% 2019 5% 2020* 5.8% 2021* 7.8% *Estimate |
Household saving rates |
21.4% (2020) OECD, retrieved January 2022 |
Public debt (General government gross debt as a % of GDP) |
2017 67.8% 2018 63.2% 2019 37.3% 2020* 58.5% 2021* 57.4% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 1.5% 2019 1.6% 2019 1.6% 2020* 4% 2021* -4.5% *Estimate |
Market value of publicly traded shares | USD 110.2 billion (2018) |
Largest Companies |
Medtronic, Accenture, Eaton, Johnson Controls International, Aon, Aptiv, Trane Technologies, Seagate Technology, Kerry Group, Experian, Smurfit Kappa Group, Flutter Entertainment, Bank of Ireland, AIB Group, Kingspan Group PLC, Horizon Therapeutics Public Limited Company, Steris, Ryanair Holdings Forbes Global 2000 (2021) |
Import/Export
Exports as percent of GDP (Exports of goods and services) |
122.3% (2018) |
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Shares in world total merchandising export |
0.85% (2018) |
Shares in world total commercial services export |
3.56% (2018) |
Total exports |
USD 451.5 billion (2018 estimate) |
Export commodities |
Machinery and equipment, computers, chemicals, medical devices, pharmaceuticals; foodstuffs, animal products |
Total imports |
USD 334.4 billion (2018 estimate) |
Import commodities |
Data processing equipment, other machinery and equipment, chemicals, petroleum and petroleum products, textiles, clothing |
Exports – major partners |
US 27.1%, UK 13.4%, Belgium 11%, Germany 8.1%, Switzerland 5.1%, Netherlands 4.9%, France 4.3% (2017) |
Imports – major partners |
UK 29%, US 18.9%, France 12.1%, Germany 9.6%, Netherlands 4.1% (2017) |
Competitiveness & Trade
Current account balance |
USD 40.5 billion (2018 estimate) |
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Current account balance by percentage of GDP |
10.6 % (2018 estimate) |
FDI inflows |
2016 USD 39,389 million 2017 USD -1,250 million 2018 USD -66,346 million |
FDI Outflows |
2016 USD 30,064 million 2017 USD -39,091 million 2018 USD 13,272 million |
Value of cross-border M&A, by country of purchaser |
2015: USD 94,558 million 2016: USD 67,162 million 2017: USD -6,504 million 2018: USD 3,650 million |
Cross-border M&A deals worth over $3 billion completed in 2014 |
Mallinckrodt PLC, Questcor Pharmaceuticals Inc, United States, USD 5.6 billion / Shire PLC, ViroPharma Inc, United States, USD 4.2 billion |
Cross-border M&A deals worth over $3 billion completed in 2015 |
Actavis PLC, Allergan Inc, United States, USD 68.4 billion / CRH PLC, Lafarge SA & Holcim Ltd-Certain Assets, France, USD 7.4 billion / Shire PLC, NPS Pharmaceuticals Inc, United States, USD 5.1 billion / Perrigo Co PLC, Omega Pharma Invest NV, Belgium, USD 4.5 billion / XL Group PLC, Catlin Group Ltd, Bermuda, USD 3.8 billion |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 24 out of 190 countries Subcategories: Starting a Business: 23 out of 190 countries Dealing with Construction Permits: 36 out of 190 countries Getting Electricity: 47 out of 190 countries Registering Property: 60 out of 190 countries Getting Credit: 48 out of 190 countries Protecting Minority Investors: 13 out of 190 countries Paying Taxes: 4 out of 190 countries Trading across Borders: 52 out of 190 countries Enforcing Contracts: 91 out of 190 countries Resolving Insolvency: 19 out of 190 countries |
Global competitiveness ranking |
24 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 6 / Score: 80.5 (Free) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone | UTC 0 |
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Total Area | 70,273 sq km (2014) |
Total Population |
1990: 3.53 million 2000: 3.83 million 2010: 4.57 million 2015: 4.71 million 2020: 5.01 million (Estimate) |
Urban population as % of total population |
1960 – 45.2% 1980 – 55.3% 2000 – 59.2% 2018 – 63.2% |
Population median age |
37.1 years |
Population growth rate |
1.11% (2018 estimate) |
Life expectancy |
81 years (2018 estimate) |
% of population living on less than $3.10 a day |
0.5% (last available estimate, 2015) |
Inequality of wealth distribution (Gini index) |
31.8 (last available estimate, 2015) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 38% Mobile: 103.2% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population |
84.52 % (2018) |
Language & Religon
Languages |
English (official, the language generally used), Irish (Gaelic or Gaeilge) (official, spoken by approximately 39.8% of the population as of 2016; mainly spoken in areas along Ireland’s western coast known as gaeltachtai, which are officially recognized re |
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Literacy | N/A |
Religions |
Roman Catholic 78.3%, Church of Ireland 2.7%, other Christian 1.6%, Orthodox 1.3%, Muslim 1.3%, other 2.4%, none 9.8%, unspecified 2.6% (2016 est.) |
World Rankings
Population | 5.01 M |
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Mercer Cost of living index |
Dublin: 43rd (2019) |
C02 Emissions per capita |
7.31 metric tons per capita (2014) |
Global Finance Rankings & Awards: Ireland
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000