A new performance monitor shows that Ireland is ranked 14th out of the world's top economies in 2008.
According to the National Irish Bank / OCO Investment Performance Monitor for 2008, Ireland attracted 1.9% of mobile Foreign Direct Investment (FDI) in 2008.
The monitor says this is quite a good performance given the country's relatively small size with Irish GDP accounting for only 0.5% of global production. The survey is based on data from dFi Intelligence, a Financial Times company.
The survey also reveals that Ireland accounted for almost two in five new pharmaceutical jobs in Europe in 2008, and one third of all medical devices and financial sector jobs.
The US was by far the most important source of investment into Ireland last year, and accounted for almost two out of every three new jobs created. It was followed by the UK, which accounted for 15% of all new jobs.
However, the survey also predicts that 2009 will be a very tough year for the world - including Ireland - with job losses continuing to mount. It says that greenfield investment worldwide will fall by 20% while new investment and jobs in financial services will also be badly hit, falling by up to 30%.
National Irish Bank's chief economist Ronnie O'Toole says that while the FDI figures are welcome, it cautions that they must be put into context.
'While Ireland's continued ability to attract Foreign Direct Investment augurs well for our long term prospects, it will provide little stimulus in the short term,' he said.
