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Irish Agriculture: Economic Impact and Current Challenges

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  • Conefrey, Thomas

    (Central Bank of Ireland)

Abstract

Following a remarkably long period of stagnation from 1990 up to 2010, during which the value of agricultural output barely increased, Irish agriculture has experienced something of a resurgence over recent years. The sector has been boosted, in particular, by the abolition of milk quotas in 2015 which has led to an expansion in dairy output. Although primary agriculture accounts for a small share of overall national output, the broader agri-food sector (including food processing) makes a sizeable output and employment contribution, particularly when assessed on a regional basis. In the Border, Midland and West areas, around one-in-eight jobs is in the agri-food sector compared to around one-in-twelve nationally. As it aims to expand output in the years ahead, the agriculture sector faces a number of challenges. Low profitability of some farming activities leaves the sector exposed to potential negative shocks such as Brexit or possible future reductions in the CAP budget.

Suggested Citation

  • Conefrey, Thomas, 2018. "Irish Agriculture: Economic Impact and Current Challenges," Economic Letters 8/EL/18, Central Bank of Ireland.
    • Handle: RePEc:cbi:ecolet:8/el/18
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    File URL: https://www.centralbank.ie/docs/default-source/publications/economic-letters/vol-2018-no.8-irish-agriculture-economic-impact-and-current-challenges-(conefrey).pdf?sfvrsn=6
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    References listed on IDEAS

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    1. Byrne, Stephen & Rice, Jonathan, 2018. "Non-Tariff Barriers and Goods Trade: a Brexit Impact Analysis," Research Technical Papers 6/RT/18, Central Bank of Ireland.
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