Natural Resources: Ireland

November 2018

Although direct contribution to the economy by natural resources is marginal, Ireland is a prominent producer of agricultural goods. It is also home to one of the top ten zinc extracting mines in the world. However, energy needs are primarily provided by imports, with most electricity generated by fossil fuels. Yet, agriculture accounts for the lion’s share of greenhouse gas emissions. If not mitigated, Ireland is projected to miss the EU’s 2020 greenhouse gas emission reduction targets.

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Overview:

The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

Economy, Finance and Trade: Understanding the structure, health and potential risks of an economy are important for decision-making within an existing operating environment as well as for expansion strategies. Real GDP growth, inflation and exchange rate fluctuations will directly impact consumer market potential. Import and export trade profiles help gauge how open an economy is to trade and investment, while analysis of government finances can be used to explore macroeconomic stability and susceptibility to economic shocks.

Income and Expenditure: Insights into income, wealth and expenditure of consumers are vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

Households: Global shifts in gender, ageing, migration and housing are transforming the size, location,  general make-up as well as income and expenditure of households around the globe, with diverse implications for governments and companies. Households insights can help identify the decision-making processes and consumption tastes of different household groups and types within a country, and assess household appliance and digital readiness that is key for formulating market technology and internet strategies.

Business Dynamics: A stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism, also gain insight into business operating environment and make strategic investment decisions. Transport infrastructure, ICT readiness and labour force dynamics will also identify potential issues with a supply chain and the level of workforce skills.

Sustainability: Insights on key sectors directly related to the environmental sustainability of a country such as energy, water, pollution, environmental resilience, forest and biodiversity and food and agriculture help businesses to make strategic decisions in relation to environmental and sustainability trends, improve brand reputation and ensure long-term operations while ultimately growing the bottom line.

The briefings cover 103 countries and identify topics of crucial interest to planners, marketers and researchers.

PROSPECTS

Chart 1 SWOT Analysis: Ireland

AGRICULTURE

Fodder shortages threaten beef and dairy producers
Risks: Opportunities: Chart 2 Agricultural Landscape in Ireland

ENERGY

Country still hugely dependent on fossil fuels
Risks: Opportunities: Chart 3 Case Study on Energy: Ireland Chart 4 Energy Landscape in Ireland

MINING OF METALS AND MINERALS

Positive outlook for Zinc and Gold
Risks: Opportunities: Chart 5 Case Study on Mining of Metals and Minerals: Ireland Chart 6 Mining Landscape in Ireland

WATER

Infrastructure needs major structural repairs
Risks: Opportunities: Chart 7 Water Landscape in Ireland

POLLUTION

Ireland is projected to miss greenhouse gas emission reduction targets
Risks: Opportunities: Chart 8 Pollution in Ireland
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