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    Ireland Economy - 2003
    https://theodora.com/wfb2003/ireland/ireland_economy.html
    SOURCE: 2003 CIA WORLD FACTBOOK

      Economy - overview: Ireland is a small, modern, trade-dependent economy with growth averaging a robust 8% in 1995-2002. Agriculture, once the most important sector, is now dwarfed by industry, which accounts for 38% of GDP and about 80% of exports and employs 28% of the labor force. Although exports remain the primary engine for Ireland's robust growth, the economy has also benefited from a rise in consumer spending, construction, and business investment. Over the past decade, the Irish Government has implemented a series of national economic programs designed to curb inflation, reduce government spending, increase labor force skills, and promote foreign investment. Ireland joined in launching the euro currency system in January 1999 along with 10 other EU nations. The economy has felt the impact of the global economic slowdown in 2001-02, particularly in the high-tech export sector; the growth rate was cut by half. Growth is expected to be approximately 4% in 2003.


      GDP: purchasing power parity - $118.5 billion (2002 est.)


      GDP - real growth rate: 5.2% (2002 est.)


      GDP - per capita: purchasing power parity - $30,500 (2002 est.)


      GDP - composition by sector: agriculture: 5%
      industry: 46%
      services: 49% (2002 est.)


      Population below poverty line: 10% (1997 est.)


      Household income or consumption by percentage share: lowest 10%: 2%
      highest 10%: 27.3% (1997)


      Distribution of family income - Gini index: 35.9 (1987)


      Inflation rate (consumer prices): 4.6% (2002 est.)


      Labor force: 1.8 million (2001)


      Labor force - by occupation: agriculture 8%, industry 29%, services 63% (2002 est.)


      Unemployment rate: 4.3% (2002 est.)


      Budget: revenues: $30.7 billion
      expenditures: $30.5 billion, including capital expenditures of $5.5 billion (2002)


      Industries: food products, brewing, textiles, clothing; chemicals, pharmaceuticals, machinery, transportation equipment, glass and crystal; software


      Industrial production growth rate: 6% (2002 est.)


      Electricity - production: 23.53 billion kWh (2001)


      Electricity - production by source: fossil fuel: 95.9%
      hydro: 2.3%
      other: 1.8% (2001)
      nuclear: 0%


      Electricity - consumption: 21.63 billion kWh (2001)


      Electricity - exports: 285 million kWh (2001)


      Electricity - imports: 38 million kWh (2001)


      Oil - production: 0 bbl/day (2001 est.)


      Oil - consumption: 174,400 bbl/day (2001 est.)


      Oil - exports: 27,450 bbl/day (2001)


      Oil - imports: 178,600 bbl/day (2001)


      Oil - proved reserves: 0 bbl (January 2002 est.)


      Natural gas - proved reserves: 9.911 billion cu m (January 2002 est.)


      Agriculture - products: turnips, barley, potatoes, sugar beets, wheat; beef, dairy products


      Exports: $86.6 billion f.o.b. (2002 est.)


      Exports - commodities: machinery and equipment, computers, chemicals, pharmaceuticals; live animals, animal products (1999)


      Exports - partners: UK 23.9%, US 18.1%, Germany 7.2%, France 5.0%, Japan 3.6%, Netherlands 3.3% (2002)


      Imports: $48.6 billion f.o.b. (2002 est.)


      Imports - commodities: data processing equipment, other machinery and equipment, chemicals; petroleum and petroleum products, textiles, clothing


      Imports - partners: UK 35.9%, US 15.8%, Belgium 14.4%, Germany 6.4%, France 4.1%, Italy 3.8% (2002)


      Debt - external: $11 billion (1998)


      Economic aid - donor: ODA, $283 million (2001)


      Currency: euro (EUR)
      note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries


      Currency code: EUR


      Exchange rates: euros per US dollar - 1.0626 (2002), 1.1175 (2001), 1.0854 (2000), 0.9386 (1999), 0.7023 (1998)


      Fiscal year: calendar year


      NOTE: The information regarding Ireland on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Ireland Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/ireland/ireland_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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