While many parents in Ireland are struggling with issues such as work/life balance and childcare costs, it appears that they are doing something right, as almost nine in 10 children here are happy with their lives, new figures from UNICEF claim.

The figures are contained in a new league table assessing children's wellbeing in 29 industrialised countries. Report Card 11 - Child Wellbeing in Rich Countries contains research from 2001 to 2010.

According to the findings, 86% of children in Ireland are happy with their lives and this country is ranked in 10th place for child wellbeing among the 29 OECD countries.

The Netherlands is ranked number one, followed by four other Nordic countries - Norway, Iceland, Finland and Sweden. The UK is ranked 16th and the US is ranked 26th. Romania is ranked last.

When compiling the report, five areas were taken into consideration - material wellbeing, health and safety, education, behaviours and risks, and housing and environment.

It notes that while Ireland has a relatively low child poverty rate - 8.5% - those who are below the poverty line live in greater poverty than in other countries. As a result, Ireland has one of the largest child poverty gaps.

Meanwhile over 15% of children in Ireland are considered overweight, which is more than in the UK, Germany and France. However, Ireland has the highest rate of children exercising. Almost one in three children here exercise for at least 60 minutes per day.

The report notes that there has been a big reduction in the number of children smoking here, as well as a small reduction in the number of children drinking alcohol. There has also been a small reduction in the number of teenagers getting pregnant.

However, Ireland is one of only five countries that experienced an increase in bullying between 2001 and 2010.

Commenting on the findings, UNICEF Ireland's executive director, Peter Power, said they showed that Ireland has made ‘huge progress' in some areas of children's lives.

However, he believes it is ‘vital' that those living in poverty are not forgotten.

"We are in danger of leaving our most vulnerable groups of children behind. There are young people finishing school faced with an uncertain future who need more options for further education and training," he said.

He also insisted that more must be done to tackle the issue of bullying, which can have ‘devastating and long-lasting effects'.

"When we ask young people what is the defining issue for their generation, they tell us that mental health services need to be strengthened," Mr Power added.