Irish economy powers ahead in 2017

"Preliminary national accounts results for 2017 show an increase of 7.8 percent in GDP... compared with 2016," Jennifer Banim, an assistant director general at the Central Statistics Office (CSO), said in a statement.

Irish economy powers ahead in 2017

World Bulletin / News Desk

Ireland's economy expanded by 7.8 percent last year thanks to growth across most sectors, official data showed Thursday, as the recovering eurozone nation prepares for Brexit in neighbouring Britain.

"Apart from a small contraction in the financial and insurance sector, all other sectors of the economy experienced growth in 2017," she added.

Gross domestic product expanded from a rate of 5.1 percent in 2016.

GDP meanwhile grew by 3.2 percent in the final three months of 2017 compared with the third quarter of last year, the CSO added.

Ireland is recovering at a strong pace after being forced into taking a huge international bailout following the global financial crisis of a decade ago.

But a fresh major concern for Ireland is the outcome of Brexit talks for its key trading partner Britain. 

Much uncertainty surrounds how the border between British province Northern Ireland and Ireland will be managed after Britain's formal exit from the European Union.

Last Mod: 15 Mart 2018, 15:40
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