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Ireland: Export and Import

Ireland is a small, modern, trade-dependent economy with an annual growth averaging a robust 9% from 1995 to 2001.
About three-quarters of the country's land are suitable for agriculture.
Beef and dairy cattle are raised in large numbers.
Potatoes, turnips, barley, wheat and sugar beet are important crops. Much of the country's industry and economy is based on this agriculture, and its dairy and beef products are major exports.
In recent years industry has replaced agriculture as the major economic factor.
World-famous Irish industries are linen, crystal glass, whiskey and beer, textiles, clothing, chemicals, machinery, transportation equipment, pharmaceuticals, live animals and animal products.
In the past ten years a skilled labour force has been created making Ireland an internationally attractive and competitive location for the production of high-tech. goods. Many new industries have been set up, and the poduction of computer components and software is particularly important.
Ireland's natural beauty and characteristic national products also make an important contribution to the economy through tourism and the export of luxury goods. One particular success story has been the world-wide popularity of Ireland's dark national beer "Guinness".
Fishing and fish-farming are carried on in small ports around the coasts, and the mining industry is growing because of recent discoveries of mineral deposits.
Ireland's leading trading partner is the EU (UK 20%, Germany 11%, France 8%, Netherlands 6%, Belgium 5%), followed by the US (20%).
Ireland imports $49.5 billion of goods from its trading partners (EU 61%: UK 33%, Germany 6%, France 5%, Netherlands 4%; US 16%; Japan 4%) compared to exports of $75.9 billion. These imports consist of data processing equipment, other machinery, chemicals, petroleum, textiles and clothing.
Ireland joined the euro currency system in January 1999 along with 10 other EU nations. Although the economy felt the impact of the global economic slowdown in 2001, the current growth rate will be in the 3%-5% range.
source: www.countryreports.org, encyclopedia

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