Ireland: Employment and Industry Trends
October 17, 2023
By GoinGlobal
Overview
Ireland has a diverse, trade-dependent economy that remains one of the strongest in the European Union (EU). Economic expansion of between 5% and 5.5% is expected both this year and next. This growth will be mainly fueled by exports - particularly pharmaceuticals and ICT services.
Key Industries
At one time, Ireland was chiefly a farming country, but although it retains a thriving agri-food sector, it now accounts for only 5% of employment. Industry (mostly manufacturing, but also mining and utilities) employs 11% of the workforce, and services 84%. The strong services sector is made up of such industries as ICT (information and communications technologies), legal, health care, and business and financial services. Manufacturing strengths include pharmaceuticals and medical devices, which help support a strong engineering sector.
Top Industries by Employment
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Wholesale and retail
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Health and social work
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Manufacturing/utilities
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Education
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Accommodation/food services
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Public administration/defense
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Construction
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Professional, scientific and technical services
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Finance, insurance and real estate
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ICT
Source: CSO
Ireland’s small yet diverse economy depends on global trade, especially with major export partners the US, Germany and Belgium. Main export commodities include nitrogen compounds, vaccines and cultures, electronics, medical devices and pharmaceuticals.