Ireland is a small, modern, trade-dependent economy. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply in 2008 and Ireland entered into a recession for the first time in more than a decade with the onset of the world financial crisis and subsequent severe slowdown in the property and construction markets. Agriculture, once the most important sector, is now dwarfed by industry and services. Although the export sector, dominated by foreign multinationals, remains a key component of Ireland’s economy, construction most recently fueled economic growth along with strong consumer spending and business investment. (CIA World Factbook)
Key exchange rates:
Interest rate: 1%
Current inflation: 4%
Inflation target: 2%
Tax rate: 21.5
Major Irish owned companies:
CRH plc is an international building materials groups, headquartered in Ireland and operating in 34 countries worldwide. CRH aims to become an international leader in building materials, delivering superior and sustained shareholder returns.
Ryanair is an Irish low cost airline, operating 81 aircraft on 729 routes across Europe and North Africa from its 31 bases. Ryanair is the third largest airline in Europe in terms of passenger numbers. Ryanair is now planning to launch a long-haul airline, offering first class service at low costs.
Independent News & Media PLC
Independent News & Media PLC [INM] is a leading international newspaper and communications group. Covering four continents, 10 major markets and 22 individual countries, INM has market-leading newspaper positions in Australia (regional), India, Indonesia, Ireland, New Zealand and South Africa. In the United Kingdom, it publishes the flagship national title, The Independent, as well as being the largest newspaper group in Northern Ireland.