In-depth country-focused analysis on Ireland's economic, political and operational risk environment, complemented by detailed sector insight


Our comprehensive assessment of Ireland's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Ireland, as well as the latest industry developments that could impact Ireland's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Ireland before your competitors.

Country Risk

Ireland Country Risk

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Core Views

  • Ireland will be the fastest growing economy in the developed world in 2015, and will remain a eurozone growth outperformer the following year.

  • Economic growth has returned to 'Celtic Tiger'-era levels in H115, and we believe growth momentum will be sustained over the coming quarters.

  • Systemic risks to the economic outlook have been materially reduced by Ireland's progress unwinding dual fiscal and current account deficits over the past few years.

  • Net exports will continue playing a key role driving growth, while growth will also be supported by an ever improving outlook for Irish households and consumer spending.

  • Although the next election due by April 2016 looks uncertain, it is unlikely Sinn Fein will play a role in government. This is...

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Ireland Industry Coverage (5)

Food & Drink

Ireland Food & Drink

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BMI View: Ireland's economy will remain the fastest growing in the eurozone in 2015. Domestic demand will become the main growth driver in the country, supported by falling unemployment, rising wages, and the collapse in global oil prices. The outlook for domestic demand is certainly improving in Ireland, which is reflected in our forecasts for private consumption to add an average of 1.4 percentage points to growth over 2015 and 2016. As growth starts to filter down, we expect robust food consumption growth in 2015 and over our forecast period to 2019.

Headline Industry Data (local currency)

  • Total food consumption growth year-on-year (y-o-y) in 2015: +2.9%; compound...

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Ireland Insurance

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BMI View: A strong domestic economy will provide a platform for growth across many parts of Ireland's insurance market, with the life and motor vehicle sub-sectors in particular well placed to benefit from growth in disposable incomes and household spending. That said, Irish insurers face continued challenges in the form of rising claims and stagnant growth in health insurance premiums, among other areas. Nevertheless, Ireland's status as a hub for international insurance operations means it is likely to remain an important market in terms of mergers and acquisitions activity over the next few years.

Ireland's status as one of the success stories of Western Europe is gradually filtering through into the country's insurance market, whose growth has been stunted by the effects of a deep economic recession and falling consumer spending over the...

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Medical Devices

Ireland Medical Devices

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BMI Industry View : Ireland represents a small, but advanced medical device market, which we value at EUR 620.1mn (USD831.0mn) in 2014. In US dollar terms, we forecast that the market will grow at a CAGR of 1.8%, to reach USD908.9mn in 2019. Ireland has a strong medical device manufacturing sector, and is an attractive location for US and other firms to use...

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Pharmaceuticals & Healthcare

Ireland Pharmaceuticals & Healthcare

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BMI View: Continued manufacturing investment in Ireland's pharmaceutical sector will continue to be promoted by government support and operational advantages such as high level of manufacturing and compliance, skilled workforce and easy access to key export markets. While Ireland's pharmaceutical positive trade balance is expected to expand through our forecast period, reflecting the country's reputation as a global major manufacturer and exporter of pharmaceuticals, the domestic drug market will remain in negative growth territory, albeit gradually moderating, before resuming expansion by 2018 and picking up in the years ahead. This is mainly explained by the government's sustained focus on controlling pharmaceuticals spending, which will keep a lid on market growth .

Headline Expenditure Projections

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Ireland Telecommunications

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BMI View: Market consolidation has changed the competitive landscape of the Irish mobile market as the acquisition of O2 by 3 has created a new market leader on equal footing with Vodafone. The market has reached maturity and growth will be driven by advanced technologies in data services. Bundling of fixed and mobile products is a critical strategy for operators eircom and Vodafone in saturated markets as it lowers churn and enables operators to sell new services to their customers. Eircom's investments into VDSL and FTTx have a positive impact on the broadband market, while UPC improves its speeds to compete with other operators. BMI foresees higher levels of advanced technological uptakes going forward as operators offer innovative services to attract new customers and to retain existing clientele.

Key Data


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