This website uses cookies to ensure you have the best experience. Learn more

Analyzing The Structure And Perfomance Of The Irish Trade And The World Trade

4986 words - 20 pages

NameStudent ID:Course: EF 310, International Trade & BusinessLecturer:Word Count:Date: Friday, 14th NovemberIntroductionTo start analyzing the structure and the performance of the Irish trade, first of all we need to look at Irish GNP for the year compared with the previous years. 2007 was another positive year in the Irish economy. According to CSO, 2007 comparing with 2006, GNP value rise by 5.7% and GNP per capita rise by 3.3%. However, in 2006 compared with 2005, GNP value rises by 11% and GNP per capita rise by 8.3%. It indicates us a warning because the rate of increasing in GNP is falling that can lead to decrease in GNP by 2009 comparing with 2008. The reason is well known that ...view middle of the document...




2006 Q3-Q4




2007 Q1-Q2




2007 Q3-Q4




2008 Q1-Q2




More in detail, I wanted to show that items playing significant role for our current and capital accounts. I gathered information from CSO and represented it in my charts that shows different items and it` role in our accounts. The most positive players in our current and capital accounts is merchandise of course that brought 11.8 billion surplus for the Irish economy in the first half year in the 2008 and it`s accounted as 8.7 % of the total surplus in the current and capital accounts for the first two quarters. However, Irish merchandise exporters felt the full impact of the economic downturn in global markets and lost 5% of export value in the first half of year.Surplus Items in the Current & Capital Accounts in the Q1 & Q2 for 2008Deficit Items in the Current & Capital Accounts in the Q1 & Q2 for 2008To talk mainly about export, I need to mention Services sector as it totalled 33.1 billion euro for the first six months, and it is up 4.9% on the same period of 2007. Services exporters also saw a reduction in demand but still remained in growth mood. To get a better understanding about the exports and imports analysis we need to look forward in the second half of the year. As cited in the'The outlook for the second half of the year is heavily dependent on whether there will be a recovery in the value of the US dollar and UK pound starling versus the euro. But it is also verydependent on the general economic conditions in our main trading markets. In this regard, a successful conclusion to the WTO Doha Round discussions in Geneva in July/August will give a strong impetus to world trade and with it greater demand for Irish exports of goods and services.With these caveats the best case scenario forecast for the second half of the year is as follows;
€ million









- 7.5%





+ 2.5%





- 3.1%

For the year as a whole the IEA forecast is therefore;>Total Merchandise exports for 2008 of 83,390 million.>Total Services exports for 2008 of 68,576 million.Giving an overall total export for 2008 forecast to be 152 billion euro. This is 1% below the 2007 figure for total exports, but 8 billion or 6 % up on the 2006 figures.'[3:]Irish economy is doing very well with the computer services. For the first half of the year it brought 11.5 billion surplus compared with the 10.4 billion surplus for the same period in 2007. And it seems to be rise further as exports in 2007 increased by 17.9% compared with 2006. The reason for that would be that many international...

Find Another Essay On Analyzing The Structure And Perfomance Of The Irish Trade And The World Trade

China and the World Trade Organization

773 words - 4 pages Why did China’s leaders place so much importance on the accession to WTO? The most widely cited reason for China’s push to join is to keep the process of reform going. In many ways, the WTO membership was the best way for China to hold economic growth. The world economy has become much more complex and interdependent, and China's participation - based on the rules of international trade - was essential for China and for the rest of the world

The World Trade Center: Then and Now

2844 words - 11 pages away from the World Trade Center complex, and I told them: "We can go there another day; it's not like its going anywhere". I regret not visiting that site more often; at least I have some pictures of me at World Trade Center so not all the memories will fade away.The idea to build the World Trade Center was born at the 1939 Worlds Fair, when international banks expressed their need to have a centralized place where everything could be displayed

Analyzing Canadian Energy Trade Policy Through Two Lenses

650 words - 3 pages is a “boil water” environment for State. Currently, state is still the dominate actor in the world and still implement rules domestically by its policy design. State has the choice to become “egg”, “carrot” or “tea leaf” when it makes policy. In energy trade policy, Canadian National Energy Program seems an “egg” action. When global oil price went up and oil supply shrunk, Canadian government decided to become a stubborn and using NEP to protect

The World Trade Organization

1351 words - 5 pages which settles these issues (Gall and Hobby 336). The Dispute Settlement Review Commission, part of the World Trade Organizations structure, analyzes decision to tell whether it was justified or not (“World Trade Organization (WTO)” Britannica School). The Ministerial Conference works by saying, if two thirds of the WTO’s members vote in favor, then that is the side in which the agreement lies on. The meeting place and decision making system between

The World Trade Organization

1196 words - 5 pages “Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favours the few, and not the many.” - Barrack Obama Barrack Obama, President of the United States addressed the consequence that in order for trade to help spur development in the world today, it must not only help The World Trade Organisation is an international organisation whose motive is to promote open and free trade

The Pros and Cons of Free Trade

1107 words - 4 pages Free Trade is the ability to trade goods and services without barriers, and for prices to rise naturally through supply and demand. In theory, Free Trade was a way to break down the barriers between countries, banishing taxes and allowing prices to be naturally set through supply and demand. According to the World Trade Organization, this gives the poor countries the opportunity to specialize in the production of goods that derive from their

The Advantages and Disadvantages of Free Trade

1774 words - 7 pages BUSINESS ECONOMICSASSIGNMENT-4 Q1) What are the advantages and disadvantages of free trade? A1) Advantages-  The thought that everyone benefits when countries convert and offer unashamedly what they do by and large capably. At the end of the day, everyone ought to invest noteworthy time in what they have practical experience in and governments ought to assume just a negligible part in this methodology.  Protectionism is excessive

The Economic Impact of the Attack on the World Trade Center and the Pentagon

734 words - 3 pages The Economic Impact of the Attack on the World Trade Center and the Pentagon The effects of the attacks on the World Trade Center and Pentagon are rippling throughout the world, by sector, by region, and by market. Bond markets, inside and outside the U.S., already jittery from a deceleration in worldwide economic activity, are struggling to find direction in the aftermath of the attack. There now seems little doubt that the U.S. and

1993 and 2001 Attacks to the World Trade Center

2042 words - 8 pages The attack on the World Trade Center in 1993, and the second attack in 2001 are the cases of terrorism that I have chosen to focus on because I believe that they are extremely significant. Both attacks happened during my lifetime, which makes them more personal, and also happened in the city where I was born. Both of these attacks are examples of terrorism because both attacks were violent and intimidating crimes that also had political motives

China and the WTO: Changing China, Changing World Trade

671 words - 3 pages Incoming World Trade Organization (WTO) Director-General Supachai Panitchpakdi has the background, timing, and credentials to make strong statements on the historic accession of China to the WTO and the shape of the global trade body. His co-author, a respected Hong Kong-based journalist with BusinessWeek, adds a dash of critical insight on how trade relates to development, human rights, and antiglobalization groups. The result is a compelling

Benefits of the world Trade Organization

1020 words - 4 pages goods. The WTO controls most trade in the world today through over 100 countries, and even more on the way. The World Trade Organization is beneficial economically and we should support its principles.      The original and main goal of the WTO is to remove trade barriers between countries, which is a major idea behind globalization. Anyone who knows the slightest bit of economics knows that trade is beneficial to a country

Similar Essays

Analyzing The Trade Dispute Of Hormone Treated Beef

898 words - 4 pages As technology progresses, many issues arise about ethics, between progress and the repercussions society faces from that progress. In 1989, a trade conflict arose, that not only affected the economies of the world, but also arose health issues, that were neglected by the law as well as the World Trade Organization. The trade conflict that I am referring to is Europe's ban of hormone-treated beef and the World Trade Organization ruling of this

The Founding Of And Debate Over The World Trade Organization

1672 words - 7 pages Although the past decade has carried a great deal of news and coverage of the World Trade Organization (WTO), few people are truly aware of the organization’s function or the scope of its mission. It often appears to be just another one of the structureless bureaucracies that handle the details of todays modern life. However, the WTO is involved in issues ranging from disputes over steel manufacturing in Japan to China’s telecommunications

Labor And The World Trade Organization (Wto)

3406 words - 14 pages GATT into a permanent WTO, whose structure and provisions are not terribly different from the original 1948 ITO, except that the primary employment purpose of world trade became lost amid the free trade ideology popularized since then. W hen the WTO replaced GATT on January 1, 1995, all of the GATT rules and its 47 years of precedents were folded into the WTO. Broader in scope than GATT, the WTO establishes rules of open trade in a variety of

World Trade Organisation And The Cancun Negotiations

1689 words - 7 pages Introduction.In this essay on the World Trade Organisation and the Cancun round of negotiations, there will be a discussion on the advantages as well as the disadvantages of free trade in the global economy and there will also be looked at a defenition for the WTO. Furthermore, this essay will also focus on the reasons why the Cancun ministerial round of discussions had collapsed.World Trade Organisation.The World Trade Organisation ( 9 years