Industry revenue of »retail sale of hardware, paints and glass« in Ireland 2011-2023
Between 2011-2015, revenues from the retail sale of hardware, paints and glass in Ireland witnessed a 13 percent negative growth, owing to subdued activity due to the economic crisis. However, post 2015, the industry started picking pace, fuelled by the growing consumer and business confidence, increased construction and household finishing activities such as painting and glazing, and plastering. In addition, revenues from the exports of paints and varnishes also witnessed a rise, from 17.5 million U.S. dollars in 2015 to 26.3 million U.S. dollars in 2018, as per data from trendeconomy.com.
Initial projections demonstrated an eight percent growth between 2019-2023. However, the outbreak of the corona virus has thrown all industry operations off gear, and a growth looks unlikely at this point in time, as majority of the manufacturing units are shut for an indefinite period. The construction sector is amongst the worst impacted as on-going project work worth 17.9 billion euros has been halted. Additionally, the overall GDP rate is projected to drop by 7 percent in 2020.
Initial projections demonstrated an eight percent growth between 2019-2023. However, the outbreak of the corona virus has thrown all industry operations off gear, and a growth looks unlikely at this point in time, as majority of the manufacturing units are shut for an indefinite period. The construction sector is amongst the worst impacted as on-going project work worth 17.9 billion euros has been halted. Additionally, the overall GDP rate is projected to drop by 7 percent in 2020.
