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
The European Commission has approved, under EU State aid rules, a €20 million Irish scheme to support the development of cultural digital games.
The European Commission has approved, under EU State aid rules, the prolongation of an Irish scheme to refund employers' social security contributions in respect of seafarers on certain vessels.
Ireland will benefit from €1.4 billion in Cohesion Policy funding between 2021-2027 to support the sustainable development of its economy. The details and strategy for these investments are set out in the Partnership Agreement between Ireland and the Commission that was formally launched today.