January 1999, Ireland and 11 other countries took part in the euro zone,and start using the euro currency.
Now we highlight several aspects of the Irish economy. First,Export-oriented economy.
Look at this chart,since many years, the Irish export trade to GDP has remained at more than 45%,much higher than the United States, China, Japan and other economic powers.the reason is that Ireland has small size and population,domestic demand is relatively limited, products and services mainly depend on the international market, so its exports remain an important position in the economy and long-term.
Second,Changing economic structure.
The first stage.Historically, Ireland is a country with agriculture and animal husbandry,the economy is undeveloped.
The second stage.Since the 1980s, the Irish economy driven by high-tech industry development, and a good investment environment to attract a lot of foreign investment, completed by the pastoral economy to a knowledge-based economy by leaps and
bounds.Since 1995, the Irish economy continued to grow rapidly, becoming the Organization for Economic Cooperation and Development of the fastest growing economies in countries.
The third stage.Since 2008, the international financial crisis,Ireland began to change the economic structure,increasing the proportion of tertiary industry in the economy.Through this chart, we can see services accounted for 70 percent of GDP, as the economy leading industries.
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