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Turning the Corner? THE IRISH ECONOMY IN 2010 Seamus Coffey March 2010
Turning the corner?
Components of GDP Q4 2008 Q1 2009 Q2 2009 Q3 2009 Consumption -2.1% -6.0% +0.9% -0.7% Investment -22.0% -14.4% +0.5% -11.0% Government +0.5% +0.1% -1.5% -0.9% Exports -1.4% -0.8% +0.1% -0.6% Imports -5.1% -3.2% +0.1% -4.7%
Economic Activity by Sector 2008 Q4  2009 Q1  2009 Q2  2009 Q3  Other Services (including rent)  -1.3% -1.0%  -0.9%  -0.2%  Industry & Utilities  -12.9%  +8.7% -0.9%  +3.0%  Building & Construction  -10.4%  -16.0% -7.6%  -11.2%  Public Administration & Defence  -0.3%  -1.4%  -2.0%  -1.3%  Agriculture, Forestry & Fisheries  -10.7%  +13.7%  -0.2%  -4.1%  Transport and Communications  -2.7%  -4.4%  -0.4%  -2.0%
 
 
 
 
 
Commodity Value of Exports, €millions % of Exports Change on 2008 Food and live animals 5,695.1 7.4% -12.9% Beverages and tobacco 981.4 1.3% -14.6% Crude materials (inedible) except fuels 833.7 1.1% -32.8% Mineral fuels 552 0.7% -30.7% Animal and vegetable oils 17.7 0.0% -55.6% Chemicals & related products 44,388.8 57.3% +8.4% Manufactured goods 1,144.2 1.5% -26.8% Machinery & transport equipment 12,530.9 16.2% -25.2% Miscellaneous manufactured goods 8,374.2 10.8% +3.3% Other and unclassified 3,015.1 3.9% +20.4% Total 77,533.0 100.0% -2.6%
 
Country Jan-Nov 2008 Jan-Nov 2009 % Change % Exports USA 15,344.8 16,653.7 +8.5% 21.5% Belgium 11,350.4 13,859.1 +22.1% 17.9% Great Britain 13,108.4 11,233.4 -14.3% 14.5% Germany 5,565.6 4,388.2 -21.2% 5.7% France 4,557.1 4,228.5 -7.2% 5.5% Spain 3,284.7 3,207.1 -2.4% 4.1% Netherlands 2,773.6 2,590.9 -6.6% 3.3% Italy 2,819.0 2,586.7 -8.2% 3.3% Switzerland 2,378.1 2,261.7 -4.9% 2.9% China 2,198.5 2,175.9 -1.0% 2.8% Japan 1,559.8 1,585.7 +1.7% 2.0% Northern Ireland 1,451.2 1,157.1 -20.3% 1.5% Other EU 4,596.0 3,912.3 -14.9% 5.0% Other Countries 8,649.0 7,692.7 -11.1% 9.9% Total 79,636.2 77,533.0 -2.6% 100.0%
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Practice Day Presentation 2010

  • 1. Turning the Corner? THE IRISH ECONOMY IN 2010 Seamus Coffey March 2010
  • 3. Components of GDP Q4 2008 Q1 2009 Q2 2009 Q3 2009 Consumption -2.1% -6.0% +0.9% -0.7% Investment -22.0% -14.4% +0.5% -11.0% Government +0.5% +0.1% -1.5% -0.9% Exports -1.4% -0.8% +0.1% -0.6% Imports -5.1% -3.2% +0.1% -4.7%
  • 4. Economic Activity by Sector 2008 Q4 2009 Q1 2009 Q2 2009 Q3 Other Services (including rent) -1.3% -1.0% -0.9% -0.2% Industry & Utilities -12.9% +8.7% -0.9% +3.0% Building & Construction -10.4% -16.0% -7.6% -11.2% Public Administration & Defence -0.3% -1.4% -2.0% -1.3% Agriculture, Forestry & Fisheries -10.7% +13.7% -0.2% -4.1% Transport and Communications -2.7% -4.4% -0.4% -2.0%
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  • 10. Commodity Value of Exports, €millions % of Exports Change on 2008 Food and live animals 5,695.1 7.4% -12.9% Beverages and tobacco 981.4 1.3% -14.6% Crude materials (inedible) except fuels 833.7 1.1% -32.8% Mineral fuels 552 0.7% -30.7% Animal and vegetable oils 17.7 0.0% -55.6% Chemicals & related products 44,388.8 57.3% +8.4% Manufactured goods 1,144.2 1.5% -26.8% Machinery & transport equipment 12,530.9 16.2% -25.2% Miscellaneous manufactured goods 8,374.2 10.8% +3.3% Other and unclassified 3,015.1 3.9% +20.4% Total 77,533.0 100.0% -2.6%
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  • 12. Country Jan-Nov 2008 Jan-Nov 2009 % Change % Exports USA 15,344.8 16,653.7 +8.5% 21.5% Belgium 11,350.4 13,859.1 +22.1% 17.9% Great Britain 13,108.4 11,233.4 -14.3% 14.5% Germany 5,565.6 4,388.2 -21.2% 5.7% France 4,557.1 4,228.5 -7.2% 5.5% Spain 3,284.7 3,207.1 -2.4% 4.1% Netherlands 2,773.6 2,590.9 -6.6% 3.3% Italy 2,819.0 2,586.7 -8.2% 3.3% Switzerland 2,378.1 2,261.7 -4.9% 2.9% China 2,198.5 2,175.9 -1.0% 2.8% Japan 1,559.8 1,585.7 +1.7% 2.0% Northern Ireland 1,451.2 1,157.1 -20.3% 1.5% Other EU 4,596.0 3,912.3 -14.9% 5.0% Other Countries 8,649.0 7,692.7 -11.1% 9.9% Total 79,636.2 77,533.0 -2.6% 100.0%
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