Ireland: Economy Overview

Ireland is a small, modern, trade-dependent economy. Ireland joined 11 other EU nations in circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply in 2008-09 as GDP fell by 3% in 2008 and nearly 8% in 2009.

Year of EU entry: 1973

Member of Schengen area:No

Political system: Republic

Capital city: Dublin

Total area: 70 000 km²

Population: 4.5 million

Currency: euro

Listen to the official EU languages:  English , Irish

Since joining the European Union in 1973, Ireland (Éire) has transformed itself from a largely agricultural society into a modern, technologically advanced Celtic Tiger economy.

Agricultural lowlands make up most of the interior, which is broken in places by low hills and includes considerable areas of bogs and lakes. There are coastal mountains to the west, rising to over 1 000m in places. Nearly a third of the population lives in Dublin.

The Dáil , or lower house of Parliament, is composed of 166 members while the Seanad , or upper house, has 60 members. Parliamentary elections are held every five years. The President, elected for a seven-year period, mainly performs ceremonial duties.

Although the history of Ireland has seen troubles and turbulence, its people have always been associated with a love of music and storytelling. Often referred to as the land of saints and scholars, the country is the birthplace of many famous English-language writers, such as Yeats, Joyce, Beckett, Wilde and Shaw. Ireland is home to internationally known rock bands and singers such as U2, The Corrs and Sinéad O'Connor.

Simple meat dishes and boiled vegetables such as the potato, carrot, turnip and parsnip form the principal ingredients of traditional Irish cooking.

Useful links

• The Commission's Representation in Ireland
• European Parliament office in Ireland
• Financial crisis: assistance package for Ireland
• Irish Government
• Tourist information

Source: European Commission