But why is resilience so important for a country like Ireland? Macroeconomic outlook and challenges First off, today, the Irish economy is one of the most open economies in the world for trade and finance. [xi] Europe and the United States buy the bulk of Irish exports. [xii] The presence of many foreign-owned multinational companies in Ireland also reflects this openness.
And they make a significant contribution to the Irish economy. One in seven jobs in Ireland are in multinational companies, many of which are highly skilled. [xiii] This is reflected in the comparatively higher wages earned by workers in multinational firms.