Irish economy at risk

The National Competitiveness Council, or NCC, is an organization that collects, analyzes, and reports data and statistics about the Irish government. In general, it focuses on comparisons of the growth and sustainability across the European Union. This organization has looked into the sustainability of economic health across a multitude of different scenarios. 

As of late, this organization has noted that the Irish economy is becoming too dependent on a small number of domestic firms that fall within similar sectors of the business market. Although it is always a positive to support your home companies, there are some major issues that may come from this increased reliance. 

To begin, Ireland’s economic dependence has been primarily within the goods and services export sectors. There has been a huge focus on pharmaceutical and chemicals being exported, with around 58pc of total exports in 2018 being in this sector; in 2017 it was at 45pc. Computer services are also dominating the market, making up 43pc in 2018, which was 3pc lower than in 2017. These bulk exports make up a huge part of the …

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