Ireland is a small, modern, trade-dependent economy with
growth averaging 6% in 1995-2007. Agriculture, once the most
important sector, is now dwarfed by industry and services. Although
the exports sector, dominated by foreign multinationals, remains a
key component of Ireland's economy, construction has most recently
fueled economic growth along with strong consumer spending and
business investment. Property prices have risen more rapidly in
Ireland in the decade up to 2006 than in any other developed world
economy. Per capita GDP is 40% above that of the four big European
economies and the second highest in the EU behind Luxembourg, and in
2007 surpassed that of the United States. The Irish Government has
implemented a series of national economic programs designed to curb
price and wage inflation, invest in infrastructure, increase labor
force skills, and promote foreign investment. A slowdown in the
property market, more intense global competition, and increased
costs, however, have compelled government economists to lower
Ireland's growth forecast slightly for 2008. Ireland joined in
circulating the euro on 1 January 2002 along with 11 other EU
nations.

Isle of Man
Offshore banking, manufacturing, and tourism are key
sectors of the economy. The government offers incentives to
high-technology companies and financial institutions to locate on
the island; this has paid off in expanding employment opportunities
in high-income industries. As a result, agriculture and fishing,
once the mainstays of the economy, have declined in their shares of
GDP. The Isle of Man also attracts online gambling sites and the
film industry. Trade is mostly with the UK. The Isle of Man enjoys
free access to EU markets.

Israel
Israel has a technologically advanced market economy with
substantial, though diminishing, government participation. It
depends on imports of crude oil, grains, raw materials, and military
equipment. Despite limited natural resources, Israel has intensively
developed its agricultural and industrial sectors over the past 20
years. Israel imports substantial quantities of grain but is largely
self-sufficient in other agricultural products. Cut diamonds,
high-technology equipment, and agricultural products (fruits and
vegetables) are the leading exports. Israel usually posts sizable
trade deficits, which are covered by large transfer paymen