Ireland economy spearheaded by high Technology exports shows growth of 2.5pc

Ireland economy spearheaded by high Technology exports shows growth of 2.5pc

The second quarter saw consumer spending growing up with a steady upward trend. Our exports spearheaded by technology exports in bulk helped the economy grow by 2.5 percent in the quarter towards June end

The data from Central Statistics Office (CSO) showed a 2.5 percent growth while Gross National Product  (GNP) shot up to 0.7pc. This is significant increase for Gross Domestic Product (GDP) as it is the standard measure of the Irish economy. Compared to last year in the same quarter on per annum basis, GDP is surely 9.1pc higher. GNP has an upward growth of 11.9pc.

The CSO data shows that pre Brexit, trade with UK shows a declining growth over the last one year by Euro 1.1 billion which is now moving towards a deficit in the trade balance with UK.

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