The Main Features of Ireland's Trade

Seminar paper from the year 2006 in the subject Business economics - Economic Policy, grade: 1,0, Dublin City University (Business School), course: Course International Trade & Business, language: English, abstract: After several years of continuous growth, Ireland’s GDP value managed to grow even further in the course of 2005, rising by 5.1 percent between 2004 and 2005. Since trade has accounted for over half of GDP since 1990, it has been a major contributor to Ireland’s expanding economy (OECD 2006). The following essay will hence “identify and discuss the main features of Ireland’s trade”. Within the topic chapter 1 focuses on how Ireland has become one of the most open economies in OECD countries and thereby could attract multinational companies and Foreign direct Investment (FDI). Chapter 2 will outline the influence of trade on economic growth, employment, net output and labour productivity. Chapter 3 will give a brief overview of Ireland’s current merchandise and service trade as well as FDI in- and outflows. Chapter 4 concludes the essay by summing up the most important points and by assessing potential future trade of Ireland.