DUBLIN — Global remittances fell by 1.6 per cent last year to 540 billion dollars, a less-than-expected decline in what the World Bank labelled “lifeline” cashflows for millions of people. The global total, which amounts to around the same as Belgium’s gross domestic product (GDP), held up far better than other economic indicators, according to a bank report published on Wednesday. The bank earlier estimated a global GDP fall of 4.3 per cent and a 30 per cent drop in foreign investment into low and middle-income countries in 2020.
DUBLIN — Ireland’s recent third pandemic lockdown led to an increase in “recreational walking,” according to Sport Ireland, a government body, with the usual mist-laced winter gales blowing in from the Atlantic Ocean proving no deterrent to a population otherwise told to stay at home for months on end. The report said “overall levels of physical activity have increased on 2019 figures,” with the percentage of Irish adults “walking for recreation” climbing from 65 per cent before the pandemic to 76 per cent during the first quarter of 2021, slightly below the high reported during Ireland’s first lockdown last year. “Running and cycling experienced similar fluxes,” according to Sport Ireland, with the early 2021 step-up in numbers coming “despite a decrease in organised sport participation.” The lockdowns required people to mostly remain within five kilometres of home, another limit that seemingly did not deter walkers.
DUBLIN — Ireland’s services industries picked up last month ahead of the government ending a third coronavirus lockdown, according to a survey of around 400 businesses published on Thursday. The jump was the strongest since the pandemic started, going by April’s Purchasing Managers Index (PMI), which said “total activity and new business both increased at the fastest rates since February 2020.” Published by Allied Irish Banks (AIB) and IHS Markit, which produces monthly PMIs covering manufacturing and services in dozens of countries, the survey reported rising employment in media, telecoms and financial services, but said there was “broadly no change” in tourism or leisure, sectors unlikely to reopen until later this year. “Although much of the services sector remains in lockdown, the data are encouraging,” said AIB economist Oliver Mangan.
DUBLIN — Online retail has boomed in the wake of the coronavirus pandemic, with worldwide e-commerce sales last year topping 26 trillion dollars, according to estimates by the United Nations Conference on Trade and Development (UNCTAD). Online retail jumped from 16 per cent to 19 per cent of total retail last year, according to UNCTAD calculations published on Monday, while global e-commerce increased by 4 per cent for sales of 26.7 trillion dollars, more than the gross domestic product of the United States, the world’s biggest economy. Ten of the top 13 e-commerce firms are from China or the United States, with Alibaba topping the list ahead of Amazon, and Canada’s Shopify the highest-ranked from a third country at five. While share of online sales across the world’s major economies grew, as on-off lockdowns forced people to spend large chunks of time indoors, UNCTAD said there had been a “notable reversal of fortunes for platform companies offering services such as ride hailing and travel.”
DUBLIN — Ireland will end one of Europe’s longest and strictest pandemic lockdowns next month by accelerating a phased relaxation plan to allow restaurants and pubs to reopen sooner than expected and public religious services to resume. Foreign Minister Simon Coveney told broadcaster Newstalk on Thursday that “from the 10th of May there will be changes in restrictions, quite significant ones.” Services such as hairdressers and “non-essential” retailers are expected to get the green light to reopen, with a ban on and related criminalisation of attending religious services expected to be lifted at the same time. The capacity limit on public transport is to be doubled from the current 25 per cent. Outdoor service at pubs and restaurants could resume in June, according to media reports that a revised reopening plan would be announced on Thursday – accounts Coveney said were “quite accurate.”
DUBLIN — Coronavirus-related borrowing and spending caused an 18.4-billion-euro (22.01-billion-dollar) government deficit in Ireland last year, equivalent to around 5 per cent of gross domestic product (GDP), according to official data published on Wednesday. The Central Statistics Office (CSO) said Dublin borrowed almost 14 billion euros to meet ballooning health and social costs incurred by pandemic restrictions, which have left hundreds of thousands of people out of work and dependent on state support. In 2019, the government reported a surplus of 1.9 billion euros, before a swing into the red of of more than 20 billion last year, even as GDP grew by 3.4 per cent due to surging exports in multinationals-dominated sectors such as pharmaceuticals and information technology.
DUBLIN — Unemployment in Ireland lingered near the 25-per-cent mark in March as a third pandemic lockdown continued to hammer the economy, according to official data released on Wednesday. Though the Central Statistics Office (CSO) said March’s 24.2 per cent unemployment was down slightly on February’s 24.8 per cent, pandemic restrictions continued “to have a significant impact on the labour market,” according to the CSO’s Catalina Gonzales. Many businesses were forced to close for a third time in less than a year after the Irish government imposed a third lockdown in December, less than a month after a second six-week lockdown ended. The government on Tuesday announced it will slowly unwind some of the measures from mid-April, saying people would be permitted “non-essential” journeys within their county of residence, beyond the current 5-kilometre limit.
DUBLIN — A stronger-than-expected rebound this year will still leave the world down an estimated 10 trillion dollars due to the coronavirus pandemic and lockdowns, according to the United Nations Conference on Trade and Development (UNCTAD). Although the global economy could expand by 4.7 per cent in 2021, it will nonetheless wind up “short of 10 trillion dollars” – about twice Japan’s gross domestic product (GDP) – compared to if the pandemic never happened, UNCTAD said on Thursday. Last year, the global economy was hit by what UNCTAD described as “its sharpest annual drop in output since statistics on aggregate economic activity were introduced in the early 1940s.” While wealthy economies have proposed huge damage-limitation fiscal spending, such as the United States’ 1.9-trillion-dollar “stimulus package,” and while China returned to growth in late 2020, people in smaller and poorer countries are struggling, UNCTAD warned.
DUBLIN — Nature conservation has been “significantly impacted” by the coronavirus and related restrictions, the International Union for Conservation of Nature (IUCN) said on Thursday, a year to the day since the outbreak was declared a pandemic. While responses to the pandemic “temporarily slowed down human impacts upon nature,” the IUCN said, restrictions such as stay-home lockdowns and widespread travel curbs later led to “conservation work job losses among protected area rangers, reduced anti-poaching patrols and environmental protection rollbacks.” Over the past year, according to the IUCN, “protected and conserved area operations were scaled down or suspended, visitor facilities closed, workplaces shut, many staff withdrawn from duty stations and supply chains disrupted.” Over half Africa’s protected areas “were forced to halt or reduce field patrols and anti-poaching operations as well as conservation education and outreach,” according to IUCN surveys.
DUBLIN — Pandemic restrictions have completely or partly closed two-thirds of destinations worldwide to international tourism, according to the World Tourism Organization (UNTWO), a United Nations agency. One year on from the World Health Organization labelling the novel coronavirus outbreak a pandemic, 69 out of 217 destinations remain “completely closed,” the UNTWO said on Monday in its latest Travel Restrictions Report. Around the same number of destinations are “partially closed,” the UNWTO calculated. Thirty-eight of the 69 completely-closed destinations have been that way for at least 40 weeks, the UNWTO said, noting “regional differences” in how curbs are applied.