Ireland - Economy
How is the economy of Ireland? Based on the information we have, Ireland has a
high-income, export-oriented EU economy; large multinational business sector contributes to growth and tax revenues but poses volatility risks; high living standards; strong labor market challenged by skill shortages and aging workforce
. Key agricultural products in this country include: milk, barley, beef, wheat, potatoes, pork, oats, chicken, rapeseed, beans (2023).More about the economy of Ireland
| Labor force | 2.857 million (2024 est.) |
|---|---|
| Industrial production growth rate | -4.9% (2024 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 | 16.8% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2024 | 0.924 (2024 est.) |
| 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.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $12.698 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $12.905 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $13.039 billion (2022 est.) |
| Current account balance | |
| Current account balance 2023 | $44.744 billion (2023 est.) |
| Current account balance 2022 | $48.427 billion (2022 est.) |
| Current account balance 2021 | $65.118 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 45.4% of GDP (2022 est.) |
| Budget | |
| Revenues | $118.278 billion (2022 est.) |
| Expenditures | $105.516 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.1% of GDP (2023 est.) |
| Remittances 2022 | 0.1% of GDP (2022 est.) |
| Remittances 2021 | 0% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.6% (2022 est.) |
| Highest 10% | 24.5% (2022 est.) |
| Average household expenditures | |
| On food | 8.6% of household expenditures (2023 est.) |
| On alcohol and tobacco | 4% of household expenditures (2023 est.) |
| Imports | |
| Imports 2023 | $580.399 billion (2023 est.) |
| Imports 2022 | $536.882 billion (2022 est.) |
| Imports 2021 | $500.334 billion (2021 est.) |
| Imports (partners) | UK 20%, USA 17%, France 10%, China 7%, Germany 7% (2023) |
| Comodities Imports force | aircraft, nitrogen compounds, vaccines, packaged medicine, integrated circuits (2023) |
| Exports | |
| Imports 2023 | $580.399 billion (2023 est.) |
| Imports 2022 | $536.882 billion (2022 est.) |
| Imports 2021 | $500.334 billion (2021 est.) |
| Exports (partners) | USA 28%, Germany 11%, UK 8%, Belgium 8%, China 7% (2023) |
| Comodities Exports force | vaccines, packaged medicine, nitrogen compounds, integrated circuits, hormones (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $620.544 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $613.056 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $648.943 billion (2022 est.) |
| GDP (official exchange rate) | $577.389 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $115,300 (2024 est.) |
| Real GDP per capita 2023 | $115,500 (2023 est.) |
| Real GDP per capita 2022 | $124,500 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1.1% (2024 est.) |
| Industry | 30.8% (2024 est.) |
| Services | 61.8% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 26.8% (2023 est.) |
| Government consumption | 12.2% (2023 est.) |
| Investment in fixed capital | 23.2% (2023 est.) |
| Investment in inventories | 3.1% (2023 est.) |
| Exports of goods and services | 135.1% (2023 est.) |
| Imports of goods and services | -102.2% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 4.4% (2024 est.) |
| Unemployment rate 2023 | 4.3% (2023 est.) |
| Unemployment rate 2022 | 4.6% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 11.1% (2024 est.) |
| Male | 11.2% (2024 est.) |
| Female | 11% (2024 est.) |
All Important Facts about Ireland
Want to know more about Ireland? Check all different factbooks for Ireland below.
