Effects Of Globalization In Ireland

Globalization is the term used to describe the increasing political, social and economic inter-connectedness of people and countries internationally. It means that events and actions taking place in one part of the world impact other communities and economies elsewhere in the world. Since its entrance into the European Union, Ireland has become more and more globalized. Globalization is an ongoing process that can have both positive and negative effects on Ireland’s political, social and economic systems. Due to the Government of Ireland Act in 1920, the island that Ireland is located on has been politically divided into two separate subdivisions of Ireland, the Republic of Ireland and Northern Ireland. The Republic of Ireland is an independent

In 2016 alone, Ireland exported over $128 billion and imported $75.2 billion, which then resulted in a $52.9 billion positive trade balance. In 2016 the Gross Domestic Product (GDP) of Ireland was $294 billion and its GDP per capita was $68.9 thousand. The economic complexity has fluctuated quite a lot since 1990 while imports and exports have gradually increased ("Ireland"). The most valuable sectors of Ireland’s economy in 2016 were wholesale and retail trade, industry, transport, accommodation and food service activities, along with public administration, defense, education, human health and social work activities (Éire). The top exports of Ireland in 2016 were packaged medicaments, nitrogen heterocyclic compounds, and human or animal blood. The top imports of Ireland in 2016 were planes, helicopters, and/or spacecraft, packaged medicaments, cars, computers, and human or animal blood. During the last five years, the exports of Ireland have increased at an annualized rate of 3.35%, from $154 billion in 2011 to $128 billion in 2016 ("Ireland"). “Intra-EU trade accounts for 51% of Ireland’s exports, while 26% go to the United States and 5% to Switzerland. In terms of imports, 68% come from EU Member States, while outside the EU 15% goes to the United States and 4% to China”

The budget does not have a goal of redistribution of wealth, but rather focusing on the needs of all EU member countries as a whole. The total amount of EU spending in Ireland in 2016 was €2.038 billion, or 0.93% of Ireland’s GNI. The total Irish contribution into the EU budget was €1.675 billion, or 0.76% of Ireland’s GNI. The money that is paid into the EU budget by member countries helps fund programs and projects in all EU countries - like protecting the environment, building roads, and subsidizing researchers (Bellec, 2017). There is a wealth of benefits associated with European Union Membership. Irish commerce and businesses have access to markets of over 510-million people, over 900,000 jobs have been created during the years of membership, and Irish citizens have rights to reside and work freely within other EU member countries. European Union membership has also helped bring political agreement and peace between Northern Ireland and the Republic of Ireland. In the EU, the Irish language of Gaelic is known as the official language of Ireland in order to protect the country’s native tongue. From the year the country joined the union to the year 2015, Ireland received over €74.3 billion from the EU. During the same time, Ireland contributed