Ireland's Economic & Competitiveness Update - Q4, 2015
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Ireland is the Fastest Growing Economy in the World.
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Ireland's Economic & Competitiveness Update - Q4, 2015
- 1. www.idaireland.comCopyright IDA Ireland 2015 Ireland’s Economic & Competitiveness Update Q4 2015 @IDAIRELAND www.linkedin.com/company/ida-ireland www.youtube.com/InvestIreland idaireland@ida.ie 2013 2014 2015 2016 Over 125,000 additional people at work since 2012 Unemployment falling for 12 consecutive quarters, down to 9.4%, from peak of 15.1% in 2011 Irish labour costs have remained relatively stable since 2008, increasing by just 4% in total, this compares to a 14% increase in the EU LabourMarket Recovery Continues Excellent flow of projects in the first half of 2015, 110 investments up from 100 last year, potential to create 9,000 jobs Competitiveness gains have been sustained as the economy returns to strong growth Exports grew 13.8% YoY in first half of 2015, reaching the highest recorded value of €125bn Source: CSO, 2013 Balance of Payments, External Trade Data, IDA calculations Composition of Exports Computer Services Business Services Financial Services Medical Devices Machinery & Transport Food & Beverage Pharma & Chemicals 28% 22% 12% 10% 6% 6% 5% Employment grew 3% between 2014 & 2015 Fastest Growing Economy in the World Source: IMF World Economic Outlook October 2015, CSO Quarterly National Accounts, *Department of Finance, Short Term Economic Outlook October 2015 5.2% 6.2% 4.2%1.4% Strong FDI Flows The IMFforecast that Irelandwill be the fastest growing advanced economyin theWorld in 2015 & 2016 Ireland’s manufacturing and services sectors showing continuous strong growth since mid-2012 Retail sales andVAT signalling strength in domestic demand Irish consumersentiment is at its highest rate since 2006 Real GDP Growth