Irish Economy 2017

Irish Economy 2017
irish economy
geralt / Pixabay

The Irish economy is showing good signs of continuing recovery. In 2016 real GDP grew by 5.2%, well above the euro area average.  The  European Economic Forecast said that some of the impressive headline GDP figures are still heavily distorted by the activities
of large multinationals . However , domestic activity appears to have been strong, driven by growth in the labour market, consumption and construction investment.

The unemployment rate in Ireland is forecast to fall to 5.9% in 2018 . Consumer sentiment has improved again after declining in the second half of 2016 and  retail sales remain strong.

Irish export growth continued in 2016 .Exports increased by 2.2 %  year on year in volume terms in the first three quarters of 2016.  In 2016, the value of goods exports, excluding contract manufacturing, was 4.0 % higher than the same period in 2015

Brexit and the Trump presidency  will bring about some uncertainty  – with the final outcome of negotiations between the UK and the EU, as well as potential changes to US tax and trade policies, to which Ireland is highly exposed.