Sunday , April 18 2021

Data on civil society organizations show that prices in the republic are 35% above the EU average

The costs of basic products and services in the Republic were 35.4 percent higher than the EU average in 2019 and the second after Denmark, according to a new report by the Central Bureau of Statistics (CSO).

A study by the civil society organization Measuring Ireland’s Progress 2019 shows that the main reason for the higher cost of living here is housing.

The agency found that the costs of housing, water, electricity, gas and other fuels increased by 3.4 percent in 2019, mainly due to higher rents and repayment of mortgage interest.

Although the costs of restaurants and hotels and transport have also increased this year, housing is likely to have the greatest absolute impact on individuals.

A report by a civil society organization shows that in 2009 prices here were 25.9 percent above the EU average. With the entry into the recession period in 2011, it fell to 21.1 percent above the EU average, before increasing again in recent years (to 2019).

The report also reveals that in 2019, the Republic had the eleventh highest gross national income (GNI) in the EU of € 275.5 billion. Ireland also had the tenth highest gross domestic product (GDP) of € 356.1 billion.

However, these indices distort multinational transactions and tend to exaggerate the performance of the domestic economy.

According to purchasing power standards, which break down GDP per capita, the country is in second place behind Luxembourg.

But Ireland has fallen to eighth place in the GNI special measure to remove multinational transactions, including those related to intellectual property (IP).

In 2019, the country recorded an unemployment rate of 5.4%, which was below the EU-6.6% average, and the 12th lowest unemployment rate in the bloc.

It later rose to 20 percent due to restrictions related to Covid, which closed large parts of the economy.

STEM graduates

Civil society organization figures show that in 2018, Ireland had the highest rate of science, technology, engineering and mathematics (STEM) graduates in the EU.

The share of graduates in these disciplines was 35.2 per 1,000 people aged 20 to 29, while the EU average was 19.6.

The figures also showed that the country has one of the most educated workforces in the EU.

More than half (53.1 percent) of those aged 25 to 34 had a third-level qualification in 2019, which is above the EU27 average of 38.5 percent, and the fourth highest level in the EU27.

A report by a civil society organization reflecting the gradual aging of the population showed that the proportion of the population aged 65 or over has increased from 11.3 percent in 2010 to 14.5 percent in 2020 over the past 10 years.

Similarly, the share of the population aged 45 to 64 increased from 22.4 percent in 2010 to 24.6 percent in 2020.

In contrast, the share of the population aged 15 to 24 decreased from 13.5 percent in 2010 to 12.7 percent in 2020.

In 2018, 37.9 percent of births in the country were out of wedlock. Ireland and Malta had the lowest divorce rates in the EU27 in 2017, 0.7 divorces per 1,000 persons, while the average divorce rate in the EU27 was 1.9 divorces per 1,000 persons in 2017.

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