• GDP: US$180.7 billion (2006).
• Main imports: Data processing equipment, transport equipment, grains, textile yarns, and chemicals.
• Main exports: Machinery and equipment, computers, chemicals, pharmaceuticals, and animals.
• Main trade partners: Belgium, France, Germany, Italy, and The Netherlands.

Ireland's recent economic history is characterised by what is now the cliché of the ‘Celtic Tiger'. Fuelled by EU membership and investment promotion policies, the Irish economy blossomed into what was for several years the fastest-growing economy in the EU.

Hitherto Ireland had not been particularly industrialised, and agriculture has only recently been overtaken as the largest single contributor to GDP. However, it remains a key sector; beef and dairy dominate the sector, with runners up potatoes, barley and wheat.

Ireland's development has been achieved by promoting export-led and advanced technology businesses, offering attractive packages for foreign investors. Banking and finance have grown, while tourism is a substantial earner.

After a long growth spurt, the economy has slowed in recent years: in 2007 it was growing steadily at 3.7%, with inflation at 4.8% and unemployment consistently below 5%.

The Irish are famously enthusiastic about Europe and, while trade with the UK remains extremely important, other EU countries are slowly assuming greater significance.

Businesspeople should wear formal clothes for meetings. Local businesspeople are very friendly and an informal business approach is most successful. However, it is advisable to make prior appointments and to allow enough time to complete business matters. Avoid business visits in the first week of May, during July, August and at Christmas or New Year.

Office hours: Mon-Fri 0900-1700/1800.

Fáilte Ireland
Bord Fáilte, Baggot Street Bridge, Dublin 2, Ireland
Tel: (1) 602 4000.
Website: www.conference-ireland.ie

Chambers of Commerce of Ireland
17 Merrion Square, Dublin 2, Ireland
Tel: (1) 661 2888.
Website: www.chambers.ie