Ireland Remains Key as Brexit Runs Into Difficulties

Earlier this week, British Prime Minister Theresa May announced that her government would be postponing Parliament's vote on the Brexit deal that she negotiated with the European Union and is pushing as definitive for the United Kingdom. This unexpected hesitation from the embattled Prime Minister is perceived as a sign that the draft Brexit deal does not have the necessary support to secure Parliament's approval.

Working against the hard deadline of March 2019, the fragmented Conservative Party in the United Kingdom seems unable to achieve a reasonable consensus as to how Brexit should look like. This ongoing standoff and power struggle risks forcing the United Kingdom into a Brexit scenario in which no reasonable arrangement is secured with the European Union, thus forcing a sudden and harsh imposition of trade, migratory, financial, and policy restrictions between the two jurisdictions.

Ireland Remains Key as Brexit Runs Into Difficulties

Within this whole discussion, one of the most sensitive issues is the future of the United Kingdom's Northern Ireland. As a part of the United Kingdom that is located on the island of Ireland and borders a member nation of the European Union, Northern Ireland’s residents and regional economy risk the prospect of a hard international border as part of Brexit. Even though the Brexit negotiations have sought to address this issue in a way that benefits both the Republic of Ireland and the United Kingdom’s territory of Northern Ireland, a failure by Parliament to ratify the Brexit deal presented by Prime Minister May would reestablish a border that has been barely perceptible for decades thanks to the EU’s customs union.

Ireland is a parliamentary republic and small country located in the European north Atlantic region. With a total territory of 70.273 square kilometers, Ireland is somewhat larger than West Virginia. Geographically, the country is dominated by a flat and rolling landscape with rugged hills and low mountains as well as 1.448 kilometers of coastline, including majestic sea cliffs along the west coast. Currently, Ireland has a total population of 5.1 million citizens, with an average age of 37 years. Furthermore, about 63% of the population lives in an urban setting, notably the capital city of Dublin with its 1.2 million inhabitants.

The annual gross domestic product (GDP) of Ireland is US$353 billion (PPP) and the national economy experienced positive economic growth of 4.9% in 2017. As of today, the national economy is divided into 1% agriculture, 39% manufacturing, and 60% services. Meanwhile, the national labor force is divided into 5% working in the agriculture industry, 11% working in the industrial sector, and 84% working in services. Similarly, the national agriculture industry utilizes about 66% of the national territory, while another 11% is forested.

In terms of natural resources, Ireland has natural gas, peat, copper, lead, zinc, silver, barite, gypsum, and limestone. Within manufacturing, the national industry is focused on pharmaceuticals, chemicals, computer hardware, software, food products, beverages, brewing, and medical devices. Simultaneously, the country’s agricultural industry has as main products barley, potatoes, wheat, beef, and dairy products.

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