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==Economy== {{Main|Economy of the Republic of Ireland|Economy of Northern Ireland}} {{See also|International Financial Services Centre, Dublin}} The GDP of the Republic of Ireland {{as of|2021|lc=y}} was €423.5 billion (nominal),<ref name=IMFWEOIE>{{Cite web |title=Report for Selected Countries and Subjects |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report |access-date=9 February 2023 |website=IMF |language=en |archive-date=5 February 2023 |archive-url=https://web.archive.org/web/20230205070729/https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report |url-status=live }}</ref> and in Northern Ireland in 2021, it was £52 billion (GVA Balanced).<ref name="NI GDP">{{Cite web|url=https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/regionaleconomicactivitybygrossdomesticproductuk/1998to2021|date=25 April 2023|title=Regional economic activity by gross domestic product, UK: 1998 to 2021|access-date=20 July 2023|archive-date=25 April 2023|archive-url=https://web.archive.org/web/20230425093334/https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/regionaleconomicactivitybygrossdomesticproductuk/1998to2021|url-status=live}}</ref> The GDP per capita in the Republic of Ireland was €84,049.9 (nominal) {{as of|2021|lc=y}},<ref name=IMFWEOIE/> and in Northern Ireland 2021 was £27,154 (GVA Balanced).<ref name="NI GDP"/> The Republic of Ireland and the United Kingdom measure these numbers differently. Despite the two jurisdictions using two distinct currencies (the euro and [[pound sterling]]), a growing amount of commercial activity is carried out on an all-Ireland basis. This has been facilitated by the two jurisdictions' former shared membership of the European Union, and there have been calls from members of the business community and policymakers for the creation of an "all-Ireland economy" to take advantage of [[economies of scale]] and boost competitiveness.<ref>{{cite web |archive-url= https://web.archive.org/web/20081028204341/http://www.forfas.ie/ncc/reports/ncc_ndp_submission/ncc061114_ndp_submission_dept_finance_webopt.pdf |archive-date=28 October 2008 |url= http://www.forfas.ie/ncc/reports/ncc_ndp_submission/ncc061114_ndp_submission_dept_finance_webopt.pdf |date=2006 |title=National Competitiveness Council Submission on the National Development Plan 2007–2013 |publisher=National Competitiveness Council |url-status=dead |access-date=28 October 2016}}</ref> === Regional economics === Below is a comparison of the regional GDP on the island of Ireland. {| class="wikitable" |- | Republic of Ireland: [[Northern and Western Region|Northern and Western]] | Republic of Ireland: [[Eastern and Midland Region|Eastern and Midland]] | Republic of Ireland: [[Southern Region, Ireland|Southern]] | United Kingdom: Northern Ireland |- | GDP ({{as of|2018|bare=yes}}): €22 bn<ref name="CSO Regional GDP">{{cite web|url=https://www.cso.ie/en/releasesandpublications/er/cirgdp/countyincomesandregionalgdp2017/|title=County Incomes and Regional GDP 2018|date=27 February 2020 |publisher=Central Statistics Office|access-date=4 July 2021|archive-date=8 December 2020|archive-url=https://web.archive.org/web/20201208062316/https://www.cso.ie/en/releasesandpublications/er/cirgdp/countyincomesandregionalgdp2017/|url-status=live}}</ref> | GDP ({{as of|2018|bare=yes}}): €175 bn<ref name="CSO Regional GDP"/> | GDP ({{as of|2018|bare=yes}}): €127 bn<ref name="CSO Regional GDP"/> | GDP ({{as of|2023|bare=yes}}): £63 bn<ref name=":0">{{Cite web |title=Regional economic activity by gross domestic product, UK - Office for National Statistics |url=https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/regionaleconomicactivitybygrossdomesticproductuk/1998to2023#gross-domestic-product-by-uk-country-and-region |access-date=2025-05-01 |website=www.ons.gov.uk}}</ref> |- | €24,926 per person<ref name="europa.eu">{{cite web |url=http://europa.eu/rapid/press-release_STAT-14-29_en.htm |publisher=European Commission |title=Regional GDP GDP per capita in the EU in 2011: seven capital regions among the ten most prosperous |website=Europa.eu |access-date=10 May 2015 |archive-date=15 August 2017 |archive-url=https://web.archive.org/web/20170815102242/http://europa.eu/rapid/press-release_STAT-14-29_en.htm |url-status=live }}</ref> | €74,824 per person<ref name="europa.eu"/> | €77,794 per person<ref name="europa.eu"/> | £32,944 per person<ref name=":0" /> |} === Northern Ireland trade comparison === Below is a comparison of the goods being sold and purchased between Northern Ireland and the United Kingdom, compared with the goods being exported and imported between Northern Ireland and the Republic of Ireland: <div style=display:inline-table> {| class=wikitable style="text-align: center;" |+ Northern Ireland Sales/Exports<ref name="nitrade">{{Cite web|url=https://www.nisra.gov.uk/sites/nisra.gov.uk/files/publications/Overview-of-NI-Trade-April-2023.pdf|access-date=25 July 2023|title=Overview of Northern Ireland Trade |archive-date=25 July 2023 |archive-url=https://web.archive.org/web/20230725144232/https://www.nisra.gov.uk/sites/nisra.gov.uk/files/publications/Overview-of-NI-Trade-April-2023.pdf}}</ref> ! scope="col" style="width: 50px;" | ! scope="col" style="width: 150px;" | United Kingdom ! scope="col" style="width: 150px;" | Republic of Ireland |- ! 2020 | £11.3 billion || £4.2 billion |- ! 2021 | £12.8 billion | £5.2 billion |} </div> <div style=display:inline-table> {| class=wikitable style="text-align: center; margin-left:2em;" |+ Northern Ireland Purchases/Imports<ref name="nitrade" /> ! scope="col" style="width: 50px;" | ! scope="col" style="width: 150px;" | United Kingdom ! scope="col" style="width: 150px;" | Republic of Ireland |- ! 2020 | £13.4 billion || £2.5 billion |- ! 2021 | £14.4 billion | £3.1 billion |} </div> === Cost of living comparison === Below is a comparison of the monthly cost of living and average wage after tax in Northern Ireland versus those in the Republic of Ireland in 2023: <div style=display:inline-table> {| class=wikitable style="text-align: center;" |+ Monthly Cost of Living Comparison<ref>{{Cite web|url=https://livingcost.org/cost/united-kingdom/nir|access-date=1 August 2023|publisher=livingcost.org|title=Cost of living in Northern Ireland|date=27 July 2020 |archive-date=1 August 2023 |archive-url=https://web.archive.org/web/20230801193013/https://livingcost.org/cost/united-kingdom/nir}}</ref><ref>{{Cite web|url=https://livingcost.org/cost/ireland|access-date=1 August 2023|publisher=livingcost.org|title=Cost of living in the Republic of Ireland|date=27 July 2020 |archive-date=1 August 2023 |archive-url=https://web.archive.org/web/20230801192205/https://livingcost.org/cost/ireland}}</ref> ! scope="col" style="width: 200px;" | ! scope="col" style="width: 150px;" | Northern Ireland ! scope="col" style="width: 150px;" | Republic of Ireland |- ! Cost of living (1 person) | $1459 || $2198 |- ! Average wage after tax | $2393 | $3010 |} </div> === Economic history === {{Main|Economic history of Ireland}} Prior to partition in 1921, Ireland had a long history as an economic colony – first, partially, of the Norse, via their cities (9th to 10th centuries CE), and later, to varying extents, of polities related to England. Though the climate and soil favoured certain forms of agriculture,<ref>{{cite book | last1 = Kinealy | first1 = Christine | author-link1 = Christine Kinealy | chapter = Peel, rotten potatoes, and providence: the repeal of the Corn Laws and the irish Famine | editor1-last = Marrison | editor1-first = Andrew | title = Freedom and Trade: Free trade and its reception, 1815–1960 | url = https://books.google.com/books?id=EtKAmC4TcOUC | series = Free trade and its reception 1815–1960 : freedom and trade | volume = 1 | location = London | publisher = Psychology Press | date = 1998 | page = 52 | isbn = 978-0-415-15527-4 | access-date = 17 August 2019 | quote = All agricultural produce in Ireland [in the early-19th century], in fact, outperformed that of other European countries (it was twice that of France, for example). | archive-date = 22 May 2020 | archive-url = https://web.archive.org/web/20200522082157/https://books.google.com/books?id=EtKAmC4TcOUC | url-status = live }}</ref> [[trade barrier]]s frequently hobbled its development. Repeated invasions and plantations disrupted [[land tenure|land-ownership]], and [[Irish Rebellion (disambiguation)|multiple failed uprisings]] also contributed to repeated phases of [[penal transportation|deportation]] and of [[Irish emigrant|emigration]]. Salient events in the economic history of Ireland include: * 16th and 17th centuries: confiscation and redistribution of land in the [[Plantations of Ireland]] * 1845–1849: [[Great Famine (Ireland)|The Great Famine]] occasioned depopulation and mass emigration * 1846: Westminster's repeal of the [[Corn Laws]] disrupted Irish agriculture<ref>{{cite book | last1 = Battersby | first1 = Thomas Stephenson Francis | title = Sixty Points Against Home Rule: A "modern-eye"-opener | url = https://books.google.com/books?id=0cmfAAAAMAAJ | publisher = Unionist assoc. of Ireland | date = 1912 | page = 7 | access-date = 17 August 2019 | quote = It was inevitable [...] that the depression of agriculture which followed the repeal should fall with greater severity on Ireland than on Great Britain. | archive-date = 22 May 2020 | archive-url = https://web.archive.org/web/20200522082152/https://books.google.com/books?id=0cmfAAAAMAAJ | url-status = live }}</ref> ===Major industries=== ====Tourism==== {{Main|Tourist destinations in Ireland}} There are two [[World Heritage Site]]s on the island: the {{lang|ga|[[Brú na Bóinne]]}} complex and the [[Giant's Causeway]].<ref>{{cite web |title=World Heritage List |website=World Heritage |publisher=UNESCO World Heritage Centre |url=https://whc.unesco.org/en/list/&order=region |access-date=30 August 2015 |archive-date=23 August 2015 |archive-url=https://web.archive.org/web/20150823101718/http://whc.unesco.org/en/list/%26order%3Dregion |url-status=live }}</ref> Several other places are on the tentative list, for example the Burren, the Ceide Fields<ref>{{cite web |title=Ireland: Tentative Lists |website=World Heritage |publisher=UNESCO World Heritage Centre |url=https://whc.unesco.org/en/statesparties/ie/ |access-date=30 August 2015 |archive-date=1 September 2015 |archive-url=https://web.archive.org/web/20150901114030/http://whc.unesco.org/en/statesparties/IE |url-status=live }}</ref> and [[Mount Stewart]].<ref>"[https://www.nationaltrust.org.uk/mount-stewart/features/mount-stewarts-world-class-gardens Mount Stewart's world-class gardens] {{Webarchive|url=https://web.archive.org/web/20171210015713/https://www.nationaltrust.org.uk/mount-stewart/features/mount-stewarts-world-class-gardens |date=10 December 2017 }}". [[National Trust]]. Retrieved 9 December 2017</ref> Some of the most visited sites in Ireland include [[Bunratty Castle]], the [[Rock of Cashel]], the [[Cliffs of Moher]], [[Holy Cross Abbey]] and [[Blarney Castle]].<ref name="facts2006">{{cite web |url= http://www.failteireland.ie/getdoc/975fbac0-cf5d-4574-946e-26700b8a4efa/Tourism-Facts-2006.aspx |title=Tourism Facts 2006 |access-date=22 October 2008 |date=2006 |website=Fáilte Ireland |publisher=National Tourism Development Authority |archive-url= https://web.archive.org/web/20120112020708/http://www.failteireland.ie/getdoc/975fbac0-cf5d-4574-946e-26700b8a4efa/Tourism-Facts-2006.aspx |archive-date=12 January 2012}}</ref> Historically important monastic sites include [[Glendalough]] and [[Clonmacnoise]], which are maintained as [[National Monument (Ireland)|national monuments]] in the Republic of Ireland.<ref>{{cite web |title=Search by County |website=National Monuments |author=National Monuments Service |publisher=Department of Environment, Heritage and Local Government |url= http://www.archaeology.ie/en/NationalMonuments/SearchByCounty/ |access-date=1 January 2010 |archive-url= https://web.archive.org/web/20100220110315/http://www.archaeology.ie/en/NationalMonuments/SearchByCounty/ |archive-date=20 February 2010}}</ref> The Dublin region receives the most tourists<ref name="facts2006"/> and is home to several of the most popular attractions such as the [[Guinness Storehouse]] and Book of Kells.<ref name="facts2006"/> The west and south west, which includes the [[Lakes of Killarney]] and the [[Dingle peninsula]] in County Kerry and [[Connemara]] and the [[Aran Islands]] in County Galway, are also popular tourist destinations.<ref name="facts2006"/> [[Stately home]]s, built during the 17th, 18th and 19th centuries in [[Palladian]], [[Neoclassical architecture|Neoclassical]] and [[neo-Gothic]] styles, such as [[Castle Ward]], [[Castletown House]], [[Bantry House]], [[Strokestown Park]] and [[Glenveagh Castle]] are also of interest to tourists. Some have been converted into hotels, such as [[Ashford Castle]],<ref>{{cite web |title=Ashford Castle, Cong |work=Buildings of Ireland Survey Data |publisher=National Inventory of Architectural Heritage |date=17 September 2008 |url=https://www.buildingsofireland.ie/buildings-search/building/30402719/ashford-castle-deerfield-or-gortnavea-conga-cong-galway |access-date=7 May 2023 }}</ref> [[Castle Leslie]]<ref>{{cite web |title=Luxury hotels included in "significant buildings" list |work=[[Sunday Business Post]] |publisher=Archiseek.ie |date=10 May 2009 |url=https://www.archiseek.com/2009/luxury-hotels-included-in-significant-buildings-list/ |access-date=7 May 2023 |archive-date=7 May 2023 |archive-url=https://web.archive.org/web/20230507112321/https://www.archiseek.com/2009/luxury-hotels-included-in-significant-buildings-list/ |url-status=live }}</ref> and [[Dromoland Castle]].<ref>{{cite news |url=http://www.coventrytelegraph.net/lifestyle/travel/dromoland-castle-hotel-spa-dreamland-3016531 |title=Dromoland Castle Hotel is a dreamland for golfers |date=5 November 2012 |newspaper=Coventry Telegraph |access-date=7 May 2023 |archive-date=22 October 2013 |archive-url=https://web.archive.org/web/20131022013156/http://www.coventrytelegraph.net/lifestyle/travel/dromoland-castle-hotel-spa-dreamland-3016531 |url-status=live }}</ref> ====Energy==== {{Main|Energy in Ireland}} Although for most of their existence electricity networks in the Republic of Ireland and Northern Ireland were entirely separate, the island has operated for some time as a single market for electricity.<ref>{{cite web |url= http://www.sem-o.com/AboutSEMO/Pages/default.aspx |title= About SEMO: The Single Electricity Market |publisher= Single Electricity Market Operator (SEMO) |access-date= 13 January 2011 |archive-url= https://web.archive.org/web/20101130095246/http://www.sem-o.com/AboutSEMO/Pages/default.aspx |archive-date= 30 November 2010 |url-status= dead }}</ref> Both networks were designed and constructed independently post-partition but they are now connected with three interlinks<ref>{{cite web | url= http://www.cer.ie/en/electricity-transmission-network-interconnection.aspx |title= Interconnection |publisher= Commission for Energy Regulation |date= 28 January 2011 | archive-url= https://web.archive.org/web/20110128172244/http://www.cer.ie/en/electricity-transmission-network-interconnection.aspx |archive-date= 28 January 2011 |access-date= 30 March 2010}}</ref> and are also connected through Great Britain to mainland Europe. The situation in Northern Ireland is complicated by the issue of private companies not supplying [[Northern Ireland Electricity]] with enough power. In the Republic of Ireland, the [[ESB Group|ESB]] has failed to modernise its power stations, and the availability of power plants has recently averaged only 66%, one of the worst such rates in Western Europe. [[EirGrid]] has started building a [[High-voltage direct current|HVDC]] transmission line between Ireland and Great Britain with a capacity of 500 MW,<ref>{{cite web |title= Interconnection: East-West Interconnector |publisher= [[EirGrid]] |url= http://www.eirgridgroup.com/customer-and-industry/interconnection/ |access-date= 19 September 2016 |archive-date= 22 February 2020 |archive-url= https://web.archive.org/web/20200222225018/http://www.eirgridgroup.com/customer-and-industry/interconnection/ |url-status= live }}</ref> about 10% of Ireland's peak demand. As with electricity, the natural gas distribution network is also now all-island, with a pipeline linking [[Gormanston, County Meath]], and [[Ballyclare]], County Antrim.<ref>{{cite web |date= 1 November 2007 |title= Bord Gáis Marks Completion of South-North Pipeline |publisher= [[Bord Gáis]] |url= http://www.bordgais.ie/corporate/index.jsp?a=1427&n=179&p=180 |access-date= 27 May 2014 | archive-url= https://web.archive.org/web/20140529052102/http://www.bordgais.ie/corporate/index.jsp?a=1427&n=179&p=180 |archive-date= 29 May 2014}}</ref> Most of Ireland's gas comes through interconnectors between [[Twynholm]] in Scotland and [[Ballylumford power station|Ballylumford]], County Antrim and [[Loughshinny]], County Dublin. Supplies come from the Corrib Gas Field, off the coast of County Mayo, with a supply previously also coming from the Kinsale gas field off the County Cork coast.<ref>{{cite web |title= Northern Ireland Energy Holdings – Frequently Asked Questions |publisher= Northern Ireland Energy Holdings |url= http://www.nienergyholdings.com/FAQs/Index.php |access-date= 8 May 2009 | archive-url= https://web.archive.org/web/20110714182024/http://www.nienergyholdings.com/FAQs/Index.php |archive-date= 14 July 2011}}</ref><ref>{{citation |title= Gas Capacity Statement 2007 |publisher= [[Commission for Energy Regulation]] | url= http://www.cer.ie/GetAttachment.aspx?id=d9f0b11e-3a13-42bb-86b7-f7470a9c68cc |access-date=8 May 2009 |archive-date=5 March 2012 |archive-url= https://web.archive.org/web/20120305041104/http://www.cer.ie/GetAttachment.aspx?id=d9f0b11e-3a13-42bb-86b7-f7470a9c68cc |pages= 22, 24, 26}}</ref> The County Mayo field faces some localised opposition over [[Corrib gas controversy|a controversial decision]] to refine the gas onshore. [[File:Maam Cross turf-cutting geograph-3178833-by-Ben-Brooksbank.jpg|thumb|Turf-cutting near [[Maam Cross]] by the road to Leenane, County Galway]] Ireland has an ancient industry based on [[peat]] (known locally as "turf") as a source of energy for home fires. A form of [[biomass]] energy, this source of heat is still widely used in rural areas. However, because of the ecological importance of peatlands in storing carbon and their rarity, the EU is attempting to protect this habitat by fining Ireland for digging up peat. In cities, heat is generally supplied by natural gas or [[heating oil]], although some urban suppliers distribute sods of turf as "smokeless fuel" for domestic use. The Republic has a strong commitment to renewable energy and ranks as one of the top 10 markets for [[clean technology|clean-technology]] investment in the 2014 Global Green Economy Index.<ref name=ggei>{{cite web |title= 2014 Global Green Economy Index |url= http://dualcitizeninc.com/GGEI-Report2014.pdf |publisher= Dual Citizen LLC |access-date= 20 October 2014 |archive-date= 28 October 2014 |archive-url= https://web.archive.org/web/20141028201432/http://dualcitizeninc.com/GGEI-Report2014.pdf |url-status= live }}</ref> Research and development in [[renewable energy]] (such as [[wind power]]) has increased since 2004. Large [[List of wind farms in the Republic of Ireland|wind farms have been constructed]] in Cork, Donegal, Mayo and Antrim. The construction of wind farms has in some cases been delayed by opposition from local communities, some of whom regard the [[wind turbine]]s as unsightly. The Republic is hindered by an ageing network that was not designed to handle the varying availability of power that comes from wind farms. The ESB's [[Turlough Hill]] facility is the only power-storage facility in the state.<ref>{{cite web |title= Options For Future Renewable Energy Policy, Targets And Programmes issued by Department of Communications, Energy and Natural Resources |publisher= Hibernian Wind Power Ltd |date= 27 February 2004 | url= http://www.hibernianwindpower.ie/hiberwindresponse_dcmnr.pdf |access-date= 11 November 2008 | archive-url= https://web.archive.org/web/20120317020157/http://www.hibernianwindpower.ie/hiberwindresponse_dcmnr.pdf |archive-date= 17 March 2012}}</ref>
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