Ireland Economic information

Ireland is a member of the European Union and uses the Euro. As of 2019, Ireland's gross domestic product (GDP) stood at 383 billion Euros. Ireland is considered one of the most developed countries in the world. The Irish economy plays a large role in sectors such as high technology, financial services, the pharmaceutical industry and agriculture. Ireland's low tax rates attract foreign investors and support the country's economic growth. Ireland's low unemployment rate and high standard of living are also indicators of its economic success. Ireland was negatively affected by the 2008 global financial crisis. However, the country recovered quickly and continued its economic growth. In 2019, Ireland's economic growth rate was recorded as

5.5%. Sectors that play an important role in Ireland's foreign trade include pharmaceuticals, computers, electronic equipment and agricultural products. Ireland trades extensively with EU countries and also has trade relations with the USA, the UK and other countries. Finally, it should be noted that Ireland has faced some criticism for its low tax rates and interest from foreign investors. Some describe Ireland's tax regulations as unfair and encouraging tax evasion. However, the Irish government maintains that its tax policies are legal and necessary to support the country's economic growth.