As a small open economy Ireland is largely dependent on international trade and markets, which makes it economically vulnerable to global crises.
However, being part of the European Union means Ireland can utilise the combined power of 27 Member States for fiscal stability and long-term economic growth, as well as recovery from unexpected financial shocks.
EU membership has helped Ireland transition from economic stagnation in the middle of the last century into a nation with a modern economy based on free trade, foreign investment and growth.
The EU’s Single Market environment, adoption of the euro currency and support from EU economic and fiscal policy coordination ensures Ireland’s economy remains stable and competitive.
Latest economic news
State aid: Commission approves €2.8 million Irish scheme to support the fishery sector in the context of Brexit
The European Commission has approved, under EU State aid rules, a €2.8 million Irish scheme to support the fishery sector affected by effects of the withdrawal of the UK from the EU.
State Aid: European Commission approves amendments to Irish scheme to further support companies in the context of Russia's war against Ukraine
The European Commission has approved amendments to an Irish scheme, including a €200 million budget increase, to further support companies in the context of Russia's war against Ukraine.
Ireland will receive additional €53 million under REACT-EU to help welcoming people fleeing Russia’s invasion of Ukraine.