With GNP hitting the deck in record volumes – these are awful figures for the domestic economy but good for the exporting sector including the foreign direct investors.

Economic figures from the Central Statistics Office

2011 Q1. GDP +1.3%
GNP – 4.3%

Services + 0.7%
Distribution transport and communications +0.7%
Industry -1.6%
Construction -15.4%
Agriculture – 2.1%
Public Administration -0.7%

Personal consumption -1.9%

Public consumption –1.9% (central and local government spend on goods and services)

Exports + 3.8%