Pharma and weight-loss drugs forecast to bring 'permanent upshift' in Irish GDP

A container ship heads up the River Lee t cargo bound for the United States. New pharmaceutical production facilities and the growth of weight loss drugs will deliver a "permanent upshift" in Irish GDP, despite GDP growth predicted to fall to 2.8% this year, according to Bank of Ireland forecasts. Picture: David Creedon / Anzenberger

New pharmaceutical production facilities and the growth of weight loss drugs will deliver a "permanent upshift" in Irish GDP, despite GDP growth predicted to fall to 2.8% this year, according to Bank of Ireland. 

The bank is predicting a GDP slowdown to 2.8% in 2026, from its previous prediction of 3.1%, but revised up slightly its forecast for GDP growth in 2025 to 11.2% from 10.7% previously, because the export boom of 2025, driven by new pharma production and firms pre‑empting US tariffs, will ease off.  The expected falloff this year could worsen if exports fall back quickly.