Indicators of economy in Ireland

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Ireland in 2020 increased from 399.32 billion US dollars to 425.85 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 6.6 percent increase has been rather unusual this year. While most countries have suffered significant losses, Ireland has certainly held its own. The tourism sector alone slumped by around 72 percent. The unemployment rate rose from 5.0 to 5.6 percent. The country's gross debt increased by 6.8 percent. The inflation rate fell from 0.9 percent previously to -0.3 percent by the end of 2020.

Income and purchasing power

The average monthly income in Ireland is 6,343 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of daily necessities are also around 11.5 percent higher compared to the USA. If you compare income and price levels, Ireland is more expensive to live in than the United States. In the end, the higher incomes do not offset the costs and one receives about 3.8 percent less for the typical national income.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

In the Global Innovation Index, Ireland ranked 23rd in 2022 with 48.5 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 21 originate from Ireland. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country in 2022 were:

Rank 167: Medtronic (Dublin)
Rank 184: Accenture (Dublin)
Rank 353: CRH (Rathfarnham)
Rank 398: Eaton (Dublin)
Rank 400: Johnson Controls International (Cork)
Rank 554: Aon (Dublin)
Rank 703: Trane Technologies (Dublin)
Rank 867: Bank of Ireland (Dublin)
Rank 906: Seagate Technology (Dublin)
Rank 959: Aptiv (Dublin)

Development of gross domestic product in billions of USD 1960 - 2021

Household debt and deficits 2021

Imports and Exports 2021

Development of imports and exports in billions of USD 2005 - 2021