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| Capital city: |
Dublin |
| Surface area: |
70,000 sq km |
| Population: |
4.2 million |
| Official language(s): |
Irish, English |
| Head of State: |
H.E. President Ms Mary McAleese |
| Head of Government: |
An Taoiseach (Prime Minister) Mr Brian Cowen TD |
| Australian exports to Ireland: |
A$226 million |
| Australian imports from Ireland: |
A$2,106 million |
| Ireland's principal export destinations: |
UK, USA, Belgium |
| Ireland's principal import sources: |
UK, USA, Germany | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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Ireland presently enjoys a booming economy that has consistently grown at close to double-digit rates for the last six years. Ireland's economic performance has been spectacular with average annual increase in GDP of nine per cent over seven years (1993-1999). Ireland is one of the most open trading economies in the world in which the value of exports and imports combined amounts to around 16 per cent of GDP.
Key economic indicators and statistics for 2007:
GDP – US$258.6 billion
GDP per capita – US$66,815
Real GDP growth – 1.8 per cent
Inflation – 3.2 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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Political climate
Ireland has a stable political climate focused on embracing the European Community. Ireland became part of the European Community in 1973, and on 1 January 1999 became part of the first wave of 11 European countries to join the European Monetary Union (EMU). Ireland maintains a stable political environment divided between the sovereign State of the Republic of Ireland, and Northern Ireland, which is part of the UK.
Northern Ireland is ruled directly from London and sends 17 members of parliament to the House of Commons. The peace process in Northern Ireland is progressing, with a devolved power-sharing government aimed at peace in Ulster. The Belfast Agreement (more commonly known as the Good Friday Agreement) was passed by the first island-wide referendum for 70 years to end 30 years of civil conflict with a permanent ceasefire.
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Trade relations and statistics
Ireland is a member of the European Union (EU) and is a signatory to the Economic and Monetary Union (EMU) agreement.
Major Australian exports to Ireland (2007)
- Alcoholic beverages – A$73 million
- Medicaments (including veterinary) – A$46 million
- Coal – A$35 million
- Medical instruments – A$9 million
Major Australian imports from Ireland (2007):
- Medicaments (including veterinary) – A$683 million
- Food preparations – A$490 million
- Organic-inorganic compounds – A$164 million
- Orthopaedic appliances – A$154 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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