Ireland economy at a glance

Latest figures for Ireland: inflation, growth, interest rates, jobs, bond yields, debt and taxes. Updated 6 November 2026. Open Ireland on the interactive map →

Key figures

Indicator	Latest	Period	Previous
Inflation (consumer prices, year on year)	4.0%	October 2026	3.8% September 2026
Core inflation (excluding food and energy)	2.5%	October 2026	2.8% September 2026
Real GDP growth (year on year)	3.9%	Q3 2026	−0.4% Q2 2026
Policy rate (European Central Bank)	2.50%	November 2026	2.50% October 2026
Unemployment rate	4.8%	October 2026	4.7% September 2026
10-year government bond yield	3.59%	September 2026	3.35% August 2026
Stock market (ISEQ All-Share)	14,803	November 2026	+15.3% over 12 months

Questions and answers

What is the inflation rate in Ireland?

Ireland's annual inflation rate was 4.0% in October 2026, up from 3.8% in September 2026.

What is the interest rate in Ireland?

The European Central Bank deposit facility rate is 2.50% (as of November 2026). The next rate decision is due on 17 December 2026.

How fast is Ireland's economy growing?

Ireland's real GDP grew 3.9% year on year in Q3 2026. The IMF's October 2026 World Economic Outlook forecasts growth of −1.0% in 2026 and 3.7% in 2027.

What is the unemployment rate in Ireland?

Ireland's unemployment rate was 4.8% in October 2026, up from 4.7% in September 2026.

What is Ireland's 10-year government bond yield?

Ireland's 10-year government bond yield averaged 3.59% in September 2026.

How much government debt does Ireland have?

Ireland's government debt is about 34.8% of GDP (latest annual figure), with a budget surplus of 1.8% of GDP.

What is Ireland's credit rating?

Ireland's sovereign credit ratings: S&P AA+, Moody's Aa2, Fitch AA.

What is the VAT rate in Ireland?

Ireland's standard VAT rate is 23% (2026 rules).

What is the corporate tax rate in Ireland?

Ireland's corporate income tax rate is 12.5% (2026 rules).

Who leads Ireland?

Ireland is led by Taoiseach Micheál Martin (Fianna Fáil), since 23 Jan 2025; Tánaiste Simon Harris (Fine Gael); President Catherine Connolly. Next election: General election due by early 2030.

Outlook

Domestic growth should stay solid. The Fiscal Council (Aug 2026) sees real GNI* up 3.2% in 2026 and 2.5% in 2027, the ESRI MDD up about 2.6–2.8%, and Budget 2027 commentary about 3% domestic growth. Headline GDP is expected to be volatile: the IMF's October WEO has GDP falling about 1% in 2026 before a 3.7% rebound in 2027. Inflation is running well above the euro-area target on energy (HICP 3.8% in September; ESRI expects about 3.7% on average in 2026), and the ECB is tightening. The key downside risks are a reversal of the corporation-tax windfall or a pharma relocation under US trade and tax pressure, a deeper energy shock, and the housing shortage. Upside comes from near-full employment and strong multinational investment.

Why Ireland matters for the world economy

Ireland's weight in the world economy comes from its role as the European base for US multinationals. Pharmaceutical plants (including GLP-1 weight-loss drugs) and the EU headquarters of Apple, Microsoft, Google and Meta mean its exports, especially pharma shipments to the US, swing global trade and euro-area GDP figures, and they are directly exposed to US tariffs and US corporate-tax changes. It is also a major hub for aircraft leasing and for internationally sold investment funds and ETFs, so Irish regulation and tax rules matter for global capital flows. The US is the most exposed partner through tax and pharma supply chains, followed by the euro area through Ireland's outsized contribution to euro-area GDP volatility and EU budget receipts.

Politics

A Fianna Fáil–Fine Gael coalition backed by independents governs with a comfortable majority. On 6 Oct 2026 it delivered Budget 2027, about €8.65bn in total with a €1.65bn tax package. The budget extends fuel-excise relief into spring, cuts childcare costs and indexes income-tax bands to cushion the energy-driven rise in prices. Public finances show headline surpluses only because of very large corporation-tax receipts from a handful of US multinationals. The Fiscal Council estimates an underlying deficit of about 3% of GNI* once windfall receipts are stripped out, so US tax and tariff policy is the main political-economy risk.

System: Unitary parliamentary republic (euro-area member).

Economy and taxes

Population: 5.5 million
Government debt: 34.8% of GDP
Budget balance: 1.8% of GDP
Main exports: Pharmaceuticals and chemicals (about two-thirds of goods exports), medical devices, ICT equipment and services, food and drink (dairy, beef), aircraft leasing services
Top export markets: United States (30.3%), Germany (12.1%), Belgium (8.5%), United Kingdom (8.3%), Netherlands (6.8%)
IMF growth forecast: −1.0% in 2026, 3.7% in 2027
IMF inflation forecast: 3.4% in 2026, 2.8% in 2027
Currency: EUR
Freelancer tax: A self-employed person earning the average wage (EUR 62,010 a year) pays about 25.8% of it in income tax and social contributions (2026 rules)
Top income tax rate: 48.0%
Gold reserves: 12.0 tonnes (July 2026)
Energy self-sufficiency: 16% (2024)

Recent news

4 November 2026 Irish corporation tax up 23.4% in the first ten months of 2026 RTE
Exchequer returns show corporation tax of EUR 23.9bn to end-October, up 23.4%, while income tax rose 8.4% to EUR 31bn and VAT 7.3% to EUR 20bn. Excise fell 7.6% after fuel-tax cuts, and the Department of Finance said part of the corporation tax rise reflects timing.
3 November 2026 Irish inflation rises to 4.0% in October as energy costs jump CSO
The CSO's flash estimate shows harmonised consumer prices up 4.0% on the year in October, from 3.8% in September, with energy 18.3% dearer. Core inflation, which excludes energy and unprocessed food, was 2.5%, and services inflation was 3.5%.
29 October 2026 Irish GDP surges 5.5% in the third quarter on multinational output CSO
The CSO's preliminary estimate shows GDP rose 5.5% from the second quarter and 3.9% from a year earlier, driven mainly by the multinational-dominated industry and information and communication sectors. The experimental estimate relies on limited data and will be revised in December.
27 October 2026 Irish wholesale electricity prices nearly double in a year RTÉ (CSO data)
CSO figures show wholesale electricity prices up 92.8% on a year earlier in September and 6.8% on the month, while the wider energy-fuels index rose 47.6%. The CSO linked the jump to the Middle East war, which keeps pressure on bills and inflation.
23 October 2026 First-time buyer mortgages hit their highest level since 2008 RTÉ (BPFI data)
BPFI data show 14,217 mortgages worth almost €4.6bn drawn down in the third quarter, up 13% on a year earlier, with first-time buyers taking 60%. Switching jumped about 42%, partly because some lenders are passing on the ECB's two rate hikes.
6 October 2026 Budget 2027 extends fuel relief and adds a modest tax package RSM Ireland
The government set out roughly €8.65bn in measures, including a €1.65bn tax package that keeps fuel-excise cuts until spring and lowers childcare costs. Commentators warned it adds stimulus while the economy is near full employment.

Headlines and summaries are compiled daily from the linked reports with AI assistance.