Ireland - Economy
How is the economy of Ireland? Based on the information we have, Ireland has a strong, export-based EU economy; multinational-business-friendly environment known for resilience, even amid COVID-19 disruptions; real wage growth beyond other OECD members; high livings standards; strong social equity and cohesion; aging labor force. Key agricultural products in this country include: milk, barley, wheat, beef, potatoes, pork, oats, chicken, rapeseed, lamb/mutton (2022).
More about the economy of Ireland
| Labor force | 2.766 million (2023 est.) |
|---|---|
| Industrial production growth rate | -10.79% (2023 est.) |
| Industries | pharmaceuticals, chemicals, computer hardware and software, food products, beverages and brewing; medical devices |
| Population below poverty line | 14% (2021 est.) |
| Taxes and other revenues | 17.27% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2023 | 0.925 (2023 est.) |
| Exchange rates 2022 | 0.95 (2022 est.) |
| Exchange rates 2021 | 0.845 (2021 est.) |
| Exchange rates 2020 | 0.876 (2020 est.) |
| Exchange rates 2019 | 0.893 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $12.905 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $13.039 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $13.247 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $53.997 billion (2023 est.) |
| Current account balance 2022 | $57.807 billion (2022 est.) |
| Current account balance 2021 | $70.909 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 46.71% of GDP (2022 est.) |
| Budget | |
| Revenues | $118.278 billion (2022 est.) |
| Expenditures | $105.516 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.08% of GDP (2023 est.) |
| Remittances 2022 | 0.08% of GDP (2022 est.) |
| Remittances 2021 | 0.04% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.6% (2021 est.) |
| Highest 10% | 24.8% (2021 est.) |
| Average household expenditures | |
| On food | 8.2% of household expenditures (2022 est.) |
| On alcohol and tobacco | 5.6% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $548.827 billion (2023 est.) |
| Imports 2022 | $516.084 billion (2022 est.) |
| Imports 2021 | $479.284 billion (2021 est.) |
| Imports (partners) | UK 26%, US 16%, Germany 9%, China 6%, Netherlands 6% (2022) |
| Comodities Imports force | aircraft, nitrogen compounds, refined petroleum, natural gas, vaccines (2022) |
| Exports | |
| Imports 2023 | $548.827 billion (2023 est.) |
| Imports 2022 | $516.084 billion (2022 est.) |
| Imports 2021 | $479.284 billion (2021 est.) |
| Exports (partners) | US 30%, Germany 12%, UK 8%, Belgium 7%, China 7% (2022) |
| Comodities Exports force | vaccines, packaged medicine, nitrogen compounds, integrated circuits, scented mixtures (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $608.463 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $628.57 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $574.387 billion (2021 est.) |
| GDP (official exchange rate) | $545.629 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $115,600 (2023 est.) |
| Real GDP per capita 2022 | $122,600 (2022 est.) |
| Real GDP per capita 2021 | $114,100 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.9% (2023 est.) |
| Industry | 37.6% (2023 est.) |
| Services | 56.6% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 27% (2023 est.) |
| Government consumption | 12.3% (2023 est.) |
| Investment in fixed capital | 23.4% (2023 est.) |
| Investment in inventories | 3.2% (2023 est.) |
| Exports of goods and services | 134.1% (2023 est.) |
| Imports of goods and services | -100.6% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 4.34% (2023 est.) |
| Unemployment rate 2022 | 4.48% (2022 est.) |
| Unemployment rate 2021 | 6.19% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 10.5% (2023 est.) |
| Male | 10.5% (2023 est.) |
| Female | 10.6% (2023 est.) |
All Important Facts about Ireland
Want to know more about Ireland? Check all different factbooks for Ireland below.
