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45 Marks: - Coggle Diagram
45 Marks:
i) Explain the Secondary Sector / Industry:
This is made up of enterprises in the
contribution
and
manufacturing sector
. An
agri-business
turns
products from agriculture
into
food products
e.g. Glenisk.
ii) Discuss The Contribution Of The Secondary Sector To The Irish Economy:
Improves Balance of Payments:
Much of what is produced in this sector is
exported abroad
, which
greatly improves Ireland's performance in international trade.
Source of Government Revenue:
This sector
generates significant revenue
for the
exchequer
through
pay roll taxes
(PAYE/PRSI),
VAT,
and
corporation tax
.
Employment:
Approx
25%
of the
workforce
is employed in this sector.
Improved Infrastructure:
The
construction industry
is
vital to modernising
the
country's infrastructure
. This, in turn, makes Ireland more
attractive
in
foreign direct investment
.
iii) Discuss Current Trends In The Secondary Sector:
Boom in Construction:
The
construction sector
has
recovered
due to
insight prices in property
. However, there is
still
a
shortage of social housing
.
Increased Competition:
The
agri-food sector
forces
greater competition
for
foreign retailers
such as
Lidl and Aldi.
ICT:
Ireland has become an
attractive location for ICT multinationals,
such as
Google and Facebook
, due to the
availability
of
well-educated and skilled workforce
in this area.
Manufacturing:
Multinationals
involved in
manufacturing
are
moving operations towards economies
such as
Asia and Eastern Europe
.