The Irish economy grew last year in Europe

The Irish economy was the only one in Europe to grow last year, despite measures to halt the spread of the new coronavirus. It was supported by the export of the pharmaceutical industry and in the field of information technology. Preliminary data from the statistical office in Dublin showed it on Friday. According to statistics, Ireland's gross domestic product (GDP) increased by 3.4% last year. Adjusted domestic demand decreased by 5.4%. This decline is roughly in the middle of the range of declines experienced by other European economies. Ireland's gross national product (GNP), which does not include the profits of multinational companies, also increased by 0.6% in 2020. However, this result shows that the large and relatively resilient Irish pandemic sector has masked the effects of very harsh blockades, which have left one in four people in the country temporarily or permanently out of work. In the fourth quarter of 2020, GDP increased by 1.5% year on year, helped by a brief reopening of the economy in December. However, quarter-on-quarter, GDP in October-December was 5.1% lower than in July-September 2020, as blockades were lifted in the summer. Statistics revealed that the domestic market sectors recorded a significantly lower level of activity in 2020, with the distribution, transport, hotel and restaurant sectors declining by 16.7%. The performance of construction also decreased last year, by 12.7%, while the arts and entertainment sector fell by 54.4%.