A great deal of the economic activity in Ireland is conducted by Foreign-Owned Corporations operating here. Most of these companies are producing pharmaceuticals, medical devices, electronics and IT services. In fact, if we look at the Gross Value Added in these Sectors, we are seeing most of what Foreign-owned Corporations contribute to Gross Domestic Product. These Foreign-Owned Corporations dominate these sectors and domestic firms add relatively little of the total Value Added in areas like drug manufacture. These sectors are large relative to the total economy, but their predominantly foreign ownership means most of the income from their production flows out of the country.
On the other hand, sectors like agriculture, construction, real estate and arts are dominated by domestic producers, with Foreign-Owned Corporations playing only a small part. If we look at the progress of these domestic-dominated sectors, we are getting a better idea of how Irish enterprises are doing.
Every quarter, the CSO produces statistics showing the Gross Value Added split into these groups of foreign-dominated sectors and the others. Gross Value Added makes up the majority of GDP, and so the trends in these statistics give valuable insights into how the domestic economy is doing, once the sectors that have less impact on income here are separated out.
| Economic Activity Sectors | Nace 2 Sections | Foreign-owned MNE dominated (Nace codes) | Other (Nace codes) |
| Agriculture, Forestry & Fishing | Section A | none | all (01-03) |
| Industry (excluding Construction) | Sections B to E | Manufacture of Coke & Refined Petroleum Products (19), Manufacture of Chemicals (20), Manufacture of Pharmaceuticals (21), Manufacture of Computer, Electronic & Optical Products (26) and Manufacture of Medical & Dental Instruments and Supplies (32.5) | all other industry (05-18, 22-25, 28-32.4 and 32.9-39) |
| Of which: Manufacturing | Section C | Manufacture of Coke & Refined Petroleum Products, Manufacture of Chemicals (20), Manufacture of Pharmaceuticals (21), Manufacture of Computer, Electronic & Optical Products (26) and Manufacture of Medical & Dental Instruments and Supplies (32.5) | all other industry (05-18, 22-25, 28-32.4 and 32.9-39) |
| Construction | Section F | none | all (41-43) |
| Distribution, Transport, Hotels & Restaurants | Sections G to I | none | all (45-56) |
| Information & Communication | Section J | Publishing (58), Telecommunications (61), Computer Programming, Consultancy & Related (62) and Information Service Activities (63) | Motion Picture, Video & Television Programme Production, Sound Recording & Music Publishing (59) and Programming & Broadcasting (60) |
| Financial & Insurance Activities | Section K | none | all (64-66) |
| Real Estate Activities | Section L | none | all (68) |
| Professional, Administration & Support Services | Sections M to N | none | all (69-82) |
| Public Administration, Education & Health | Sections O to Q | none | all (84-88) |
| Arts, Entertainment & Other Services | Sections R to T | none | all (90-98) |