Changes

==Economy==

==Economy==

Ireland boasts a vibrant, globalized economy, with GDP per capita second only to Luxembourg's in the EU. The "Celtic Tiger" period of the mid to late 1990s saw several years of double-digit GDP growth, driven by a progressive industrial policy that boosted large-scale foreign direct investment and exports. GDP growth dipped during the immediate post-9/11 global economic slowdown, but has averaged roughly 5 percent yearly since 2004, the best performance for this period among the original EU 15 Member States. Since 2004, the Irish economy has generated roughly 90,000 new jobs annually, attracting over 200,000 foreign workers, mostly from the new EU Member states, in an unprecedented immigration influx. The construction sector has accounted for approximately one-quarter of these jobs, and economists caution that any slowdown in Ireland's vibrant housing market would have ramifications for continued GDP growth.  

Ireland once boasted a vibrant, globalized economy, with GDP per capita second only to Luxembourg's in the EU. The "Celtic Tiger" period of the mid to late 1990s saw several years of double-digit GDP growth, driven by a progressive industrial policy that boosted large-scale foreign direct investment and exports. GDP growth dipped during the immediate post-9/11 global economic slowdown, but has averaged roughly 5 percent yearly since 2004, the best performance for this period among the original EU 15 Member States. Since 2004, the Irish economy has generated roughly 90,000 new jobs annually, attracting over 200,000 foreign workers, mostly from the new EU Member states, in an unprecedented immigration influx. The construction sector has accounted for approximately one-quarter of these jobs, and economists caution that any slowdown in Ireland's vibrant housing market would have ramifications for continued GDP growth.  

Economic and trade ties are an important facet of overall U.S.-Irish relations. In 2005, U.S. exports to Ireland were valued at $9 billion, while Irish exports to the U.S. totaled $28 billion, according to the U.S. Department of Commerce. The range of U.S. exports includes electrical components and equipment, computers and peripherals, drugs and pharmaceuticals, and livestock feed. Irish exports to the United States represent approximately 20% of all Irish exports, and have roughly the same value as Irish exports to the UK (inclusive of Northern Ireland). Exports to the United States include alcoholic beverages, chemicals and related products, electronic data processing equipment, electrical machinery, textiles and clothing, and glassware. According to Ireland's Central Statistical Office, Irish exports to the United States from January to September 2006 rose by 7% compared to the same period in 2005, while Irish imports from the United States from January to September 2006 fell by 14% compared to the same period in 2005.  

Economic and trade ties are an important facet of overall U.S.-Irish relations. In 2005, U.S. exports to Ireland were valued at $9 billion, while Irish exports to the U.S. totaled $28 billion, according to the U.S. Department of Commerce. The range of U.S. exports includes electrical components and equipment, computers and peripherals, drugs and pharmaceuticals, and livestock feed. Irish exports to the United States represent approximately 20% of all Irish exports, and have roughly the same value as Irish exports to the UK (inclusive of Northern Ireland). Exports to the United States include alcoholic beverages, chemicals and related products, electronic data processing equipment, electrical machinery, textiles and clothing, and glassware. According to Ireland's Central Statistical Office, Irish exports to the United States from January to September 2006 rose by 7% compared to the same period in 2005, while Irish imports from the United States from January to September 2006 fell by 14% compared to the same period in 2005.  

*Agriculture (3% of GDP): Products--cattle, meat, and dairy products; potatoes; barley; hay; silage; wheat.  

*Agriculture (3% of GDP): Products--cattle, meat, and dairy products; potatoes; barley; hay; silage; wheat.  

*Industry (32% of GDP): Types--food processing, beverages, engineering, computer equipment, textiles and clothing, chemicals, pharmaceuticals, construction.

*Industry (32% of GDP): Types--food processing, beverages, engineering, computer equipment, textiles and clothing, chemicals, pharmaceuticals, construction.

*Trade (2006): Exports--$119.8 billion (excluding services): machinery, transport equipment, chemicals, food, live animals, manufactured materials, beverages. Imports--$87.4 billion (excluding services): grains, petroleum products, machinery, transport equipment, chemicals, textile yarns. Major suppliers-Great Britain and Northern Ireland 31%, U.S. 11%, Germany 8%, China 7%, Japan 4%, France 3%, rest of the world (including other EU Member States) 36%.  

*Trade (2006): Exports--$119.8 billion (excluding services): machinery, transport equipment, chemicals, food, live animals, manufactured materials, beverages. Imports--$87.4 billion (excluding services): grains, petroleum products, machinery, transport equipment, chemicals, textile yarns. Major suppliers-Great Britain and Northern Ireland 31%, U.S. 11%, Germany 8%, China 7%, Japan 4%, France 3%, rest of the world (including other EU Member States) 36%.

 

Ireland was badly hit by the 2008 financial crisis, resulting in the collapse of the property bubble.

==History==

==History==