Business

Statistics

• GDP: US$180.7 billion (2006).
• Main imports: Data processing equipment, transport equipment, grains, textile yarns, and chemicals.
• Main exports: Machinery and equipment, computers, chemicals, pharmaceuticals, and animals.
• Main trade partners: Belgium, France, Germany, Italy, and The Netherlands.

Economy

Ireland's recent economic history is characterised by what is now the cliché of the ‘Celtic Tiger'. Along with Portugal as one of the clear winners of a vigorous EU membership, Ireland transformed from one of the more struggling developed countries - largely because of large scale migration - in Europe to one of the most successful and wealthy, wiping out the brain drain it suffered. In 2005, Economist rated it as having the best quality of life. 

Like much of western Europe, the knowledge industry is becoming much more important, as is tourism. However, agriculture remains a diminishing, but key sector; beef and dairy dominate the sector, with runners up potatoes, barley and wheat.

After a long growth spurt, this economic boom came to a halt in 2008 with the start of the global economic downturn, suffering greatly - the property bubble was particularly inflated here. The Economic and Social Research Institute (ESRI) stated in a report published in April 2008 that Ireland's economy will contract by around 14 per cent by 2010, not recovering until 2011.

Business Etiquette

Businesspeople should wear formal clothes for meetings. Local businesspeople are very friendly and an informal business approach is most successful. However, it is advisable to make prior appointments and to allow enough time to complete business matters. Avoid business visits in the first week of May, during July, August and at Christmas or New Year.

Office hours: Mon-Fri 0900-1700/1800.

Conferences & Conventions

Fáilte Ireland
Bord Fáilte, Baggot Street Bridge, Dublin 2, Ireland
Tel: (1) 602 4000.
Website: www.conference-ireland.ie

Chambers of Commerce of Ireland
17 Merrion Square, Dublin 2, Ireland
Tel: (1) 661 2888.
Website: www.chambers.ie