Ireland

The economy of the Republic of Ireland is a modern, relatively small, trade-dependent economy.

Agriculture, which once played a dominant role in the economy, is now being replaced by industry. Industry accounts for 46% of GDP, about 80% of exports, and 29% of the workforce. While exports remain the main engine of Ireland's economic growth, growth is also being boosted by increased consumer spending and a recovery in both construction and business investment.

The dominant branch of agriculture is meat and dairy farming, some of whose products are exported. Cereals (barley, wheat and oats), potatoes, sugar beet are also grown. Ireland provides its own needs for barley and oats, but is forced to import wheat.

In Ireland, there are companies in the food, textile, clothing, glass, engineering, chemical industries. High-tech industries such as pharmaceuticals, electronics and the information and communication technology sector are developing rapidly, the development of which is associated with attracting foreign investment. Companies with foreign participation account for about 70% of the country's industrial exports.

According to the data of the EES EAEC website, the total energy reserves (estimated) amount to 0.027 billion tons (in coal equivalent).

The main part of external cargo transportation is accounted for by sea transport. Domestic transportation, both freight and passenger, is carried out mainly by road.

About half of the total foreign trade turnover and 2/3 of Ireland's exports are accounted for by the UK.

Exports from Ireland are dominated by machine tools and equipment, computers, chemicals, pharmaceuticals, live cattle, livestock products. Imports constantly exceed exports. The foreign trade deficit is covered by income from tourism, as well as money transfers from emigrated relatives.