GDP per Capita US$ 2004

Ireland	44,923
US	39,468
Netherlands	35,629
UK	35,556
Belgium	33,840
France	33,617
Germany	32,716
Italy	29,167
Spain	22,968
Hungary	9,879
Source: IMD World Competitiveness Yearbook 2005

Irish Economy

Ireland is an open, modern, trade-dependent economy.

Industry accounts for 46% of GDP, about 80% of exports and 29% of the labour force. Per capita GDP is 10% above that of the four big European economies and the second highest in the EU behind Luxembourg.

GNP in Ireland grew by 9.5% in the period 2000-2001. Growth rates averaging 5.3% annum are projected for the years 2005-2007. Annual inflation averages 2.4% and unemployment 4.3%. The marginal lending rate set by the European Central Bank is at present 3%. (www.oecd.org)

Over the past decade, the Irish Government has implemented a series of national economic programs designed to curb price and wage inflation, reduce government spending, increase labour force skills, and promote foreign investment.

Government policy since the 1960's has been to emphasise the development of export based industry and the attraction of foreign investment into Ireland.

Ireland has been a member of the EU since 1973 and joined the EURO (single currency) in 2002.

Major export markets include the US (largest), the UK, Germany, France. Principal exports include pharmaceuticals, healthcare & consumer products, software, computer hardware, financial services and food.

According to the Economist Intelligence Unit Business Environment Rankings, Ireland will remain one of the most attractive business locations in the world throughout '04-'08.