Industry; value added (constant LCU) in Ireland

The Industry; value added (constant LCU) in Ireland was 49526686321.28 in 2009, according to a World Bank report, published in 2010. The Industry; value added (constant LCU) in Ireland was reported at 53586391334.27 in 2008, according to the World Bank. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in constant local currency.This page includes a historical data chart, news and forecasts for Industry; value added (constant LCU) in Ireland. Ireland is a small, modern, trade-dependent economy. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply in 2008 and Ireland entered into a recession for the first time in more than a decade with the onset of the world financial crisis and subsequent severe slowdown in the property and construction markets. The export sector, dominated by foreign multinationals, remains a key component of Ireland's economy.

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