The Irish economy continued to develop in 2023. The growth is 3-5% per year. The main share of GDP is accounted for by trade.
Many people dream of moving here. The capital Dublin is in the 16th place in the world ranking of cities in terms of living standards. The country has the second highest level of income per capita among the EU states. It is second only to Luxembourg. Ireland has the 4th position in the world ranking.
In the first 9 months of 2018, Irish GDP grew by 2.3%, excluding the indicators of multinational companies located on the island.
Now the economy remains “overheated” despite the fact that economic growth (especially in the Asian region) it is actively decreasing. The country has reached such indicators due to the growth of domestic consumption and a reduction in the tax burden.
Inflation expectations remain at a low level, but the influence of external factors can fully affect the situation at any time.
The main danger for the Irish economy in 2023 is the unresolved withdrawal of the UK from the EU. Its probability remains at 50%. This entails significant losses in the financial market, as investors lose interest in this region.
The situation in the real estate market, which became the main cause of the crisis of 2008-2009, can also collapse the economy.