2.7% GDP contribution by primary agriculture

PRIMARY agriculture now contributes less than 2.7% to Irish GDP, according to an analysis conducted by two Trinity College (TCD) economists on the likely impact of the 2003 mid-term review of the Common Agricultural Policy.

Various CAP direct payment schemes were replaced by a single farm payment (SFP) under the changes. There was also an additional reduction in dairy product intervention prices.

TCD economists Professor Alan Matthews and Dr Janine Dixon have projected the impact of the changes on national GDP, agricultural output and incomes, land use and greenhouse gas emissions. They found the effects of reform in agriculture are minimal, with a small positive impact on GDP of 0.03%.