The business climate in Ireland today has its roots in decisions made by successive Irish Governments since the 1950s to place a major emphasis on encouraging foreign inward investment as a means of stimulating export-based industries. Because of its small size, the Irish economy is highly dependent on foreign trade. Since 1985, the value of exports has exceeded imports and exports now account for three-quarters of national output, a level unique in Europe.
Currently up to 600 US companies employ more than 90,000 people in Ireland. Annual exports by US companies exceed e26bn ($28.5bn) and the US is by far the largest foreign investor in Ireland, representing almost 65% of foreign direct investment. Ireland now attracts 27% of all new US ‘greenfield’ investment in Europe.
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