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||1997 - 2015
Ireland is dependent on foreign direct investment from major high-tech manufacturers such as Intel, Google and Pfizer and it is one of the world’s biggest exporters of pharmaceuticals and software. From 1995 to 2007, GDP growth averaged 6 percent, which earned the country the nickname of Celtic Tiger. However, as a result of a crash in real estate market, economic activity dropped sharply in 2008 and the country entered into a recession for the first time in more than a decade. Meanwhile, Ireland expanded slowly in the 2010-12 period and in 2014 it was growing at nearly 5 percent while dragging the budget deficit down to 4.1 percent of GDP and the government debt to 109.7 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 44 percent of its total use, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Exports of goods and services account for 114 percent of GDP while imports account for 95 percent, adding 19 percent of total GDP. This page provides - Ireland GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Ireland GDP Growth Rate - was last refreshed on Saturday, November 28, 2015.