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Dan O’Brien: Export earnings don’t tell full story of Ireland Inc’s reliance on tech and pharma

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“At a time of so much gloom, highlighting the ongoing success of tech and pharma is not just an antidote to fend off depression: it is the main reason the economy as a whole can avoid recession even if the rest of the world slumps.”

Ireland now earns more from exports than Italy. This astonishing fact, from the balance of payments database of the World Bank, illustrates the degree to which the Irish economy has globalised.

Recall that Italy is a G7 economy with a population of 60 million people and land borders with prosperous markets such as France, Switzerland and Austria. Ireland, by contrast, is a peripheral island with a population 12 times smaller.

 

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