Ireland Economy

Ireland Economy



































1. Where is the country located?
The Republic of Ireland is the 5/6 parts of the island with an area of ​​70,282 km2. The Country is situated in North Western Europe, Ireland is surrounded by a multitude of islands. Its most near neighbour is Great Britain.
[pic]Ireland is a West European country situated on the geographical coordinates of 53° North latitude and 8° West longitude. It is bordered by the North Atlantic Ocean, Irish Sea and Celtic Sea. The land area covers about 68,890 sq km and the water bodies cover about 1,390 sq km. United Kingdom lies on the north eastern side of Ireland.
2. How many people live in the country?
TheIreland Population in April 2010 is the 4,470,700 habitants and the distribution of population by sex tends to be symmetrical, reaching a ratio of 0.99 men to every woman.
The country has a low population density with 60 inhabitants / sq. km. The urban population represents 61% of the total population. The average age of the population in 2006 is 35.6 years. 35% of the population is lessthan 25 years, making Ireland one of the European countries with younger populations. If a country traditionally origin of migration, has become, especially since the 90 in a receiving country for migrants. In 2006, studies show that 10% of residents are foreign born, the British are the most predominant. 31% of the total population comes from countries outside the European Union and United States.3. What is its official currency? Calculate it in dollars.
The euro (€) is the official currency of Ireland. The equivalency is One euro is equal to 100 cents. The notes come in denominations of € 500, € 200, € 100, € 50, € 20, € 10 and € 5 and € 2 and € currency 1 and 50, 20, 10, 5, 2 and 1 cent. That currency expressing in dollars, One Euro it equivalent to 1,43 USD.4. What kind of economy does it have?
Ireland is a small open economy, totally dependent on trade. Represented approximately 2.1 percent of total production in the Eurozone in 2007 (The Eurozone consists of 17 countries). Its openness is reflected in the international mobility of labor and capital (key productive factors), as evidenced by strong migratory flows and high levels offoreign direct investment in the nation.
5. What is its economy based on?
The Ireland economy is based on: food processing, beverages, engineering, computer equipment, textiles and clothing, pharmaceuticals, chemicals.
Trade (2010, Ireland Central Statistics Office data): Exports--$119.9 billion (excluding services): machinery, transport equipment, chemicals, food,manufactured materials, beverages. Imports--$59.9 billion (excluding services): grains, petroleum products, machinery, transport equipment, chemicals, textile yarns.
6. What are its natural resources?


Ireland has a long tradition of mining dating back to the Bronze Age. Coal, lead and copper mining flourished during the eighteenth and nineteenth centuries. Following aperiod of relative decline, the discovery of the Tynagh lead zinc copper mine in 1961 was followed by further discoveries at Silvermines and Gortdrum. These mines have now closed, but the development of the Navan mine in 1974, followed by the Galmoy and Lisheen mines means that Ireland is a leading European producer of zinc and lead concentrates in Europe.
There are more than 400 quarriesand sand pits supplying construction industry materials. Addition of zinc and lead from their natural resources also are natural gas, gypsum, limestone and silver.
7. What does GDP stand for?
The economic growth of Ireland is dependent mainly on the trade industry next to agriculture. It is this industry that adds value to near of 46% of the GDP growth while 80% pertaining to...