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Strong Sustained Economic Growth
Ireland’s Economic & Competitiveness Update Q4 2017
+1.7%
Consumerspend
+20%
Construction
+3.2%
Exports
IMD ranks Ireland 6th in the world for overall competitiveness.
Fastest growing economy in Eurozone for past three years (2014 – 2016).
Strong growth continues in 2017; 5.5% yoy growth in first half 2017Domestic demand and exports contributing to growth.
Competitiveness maintained in growing economy; Price inflation remains subdued, 0.2% yoy in September.
Ireland’s Budget 2018 safeguards Ireland’s public finances amid internationally uncertainty committing 70% additional capital spending between 2017 and 2021.
Real GDP Growth Rate
Source: IMF World Economic Outlook, October 2017 Ireland EuroArea
2017 2018 2019
2.1%
3.4%
1.9%
3%
1.7%
4.1%
10% 64% 80% 65% €18.7bn €5.5bn
National and International forecasts predict continued strong GDP growth into 2018.
Ireland at the Heart of Europe
Ireland will remain a core member of the EU single market & Euro currency.
Only English speaking country in the Eurozone.
People from all over Europe can come to live and work in Ireland.
Proportionally Ireland has the 3rd highest international workforce in Europe. Today, 15% of Ireland’s workforce is international.
Labour Market Continues to Strengthen
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@IDAIRELAND
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In the face of global economic & political uncertainty Ireland remains a stable, competitive, secure, pro-business economy.
Same high level of investments secured as this time last year at 114.
Multinationals make a significant contribution to the Irish Economy;
FDI Continues to Grow Strongly
Some leading investments secured include:
Strong employment growth: over 2.06 million people now at work in Ireland.
Unemployment 6.1% in September 2017 at it’s lowest level in 9 years. Ireland’s unemployment rate below EU (7.6%) and Eurozone (9.1%) average.
Exporting companies created 1 in every 2.5 additional jobs in Ireland since 2012.
IMD World Competitiveness Yearbook 2017 ranks Ireland 1st for labour productivity and efficiency, and adaptability and flexibility of workforce.
Youngest Population in the EU: 33% under 25 (EU 28: 26.8%).
Irish labour productivity is 74% above the EU 27 average.
of total Employment
in Ireland(2016)
annual spend in Irish Economy on payroll,
materials and services(2015)
of RD&I Investment
+ 14,000 R&D staff(2015 & 2016)
of Corporation Tax(2015)
of Exports(2016)
invested annually in capital projects
(2015)
