Economy

Agriculture formed the mainstay of the Irish economy until the mid-1950's. Since then it has been displaced by manufacturing and services, which account for more than three-fourths of the country's labor force and gross domestic product. Since joining the European Economic Community (now called the European Union) in 1973, Ireland has enjoyed dramatic economic growth. By the late 1990's Ireland had one of the fastest growing economies in Europe and one of the lowest unemployment rates.

The basic currency unit is the euro.

By granting numerous financial benefits to private enterprise, the government has greatly aided in establishing many manufacturing industries. Many foreign corporations have been attracted to Ireland. Foods, beverages, tobacco products, textiles, clothing, machinery, electrical and electronic equipment, chemicals, pharmaceuticals, and crystal are among the many products produced. Dublin and Cork are the chief industrial centers. Also important, partly because of government-sponsored industrial parks, are Limerick, Waterford, Galway, and the area around Shannon Airport (near Limerick).

Tourism is of vital importance to Ireland, providing numerous jobs in the service sector of the economy. Banking, finance, wholesale trade, and retail trade are also important.

provides a livelihood for about 15 per cent of the workforce. Most of Ireland's farmland is pasture. Livestock, mainly cattle and sheep, and dairy products make up most of the farm production. Principal crops are barley, sugar beets, potatoes, and wheat.

Ireland has few mineral resources. Peat and natural gas are the only mineral fuels produced, and Ireland relies heavily on imported oil. Lead, zinc, and barite are the only other minerals produced in significant amounts. Commercial fishing, both inland and on coastal waters, is largely of local importance.

is mainly with other members of the European Union, especially Great Britain. Other important trading partners include the United States and Japan.

Dublin is the hub of Ireland's railway system, which is fully dieselized. A network of national highways crisscrosses the country. Virtually all of Ireland's roads are paved. Except in the estuary of the Shannon River, there is virtually no commercial use of inland waterways. Dublin and Cork (together with nearby Cóbh) are chief seaports. Aer Lingus, the national airline, and numerous foreign carriers operate out of Dublin, Shannon, and Cork airports.