Ireland's Economy

For the first post I will talk about the basics of Ireland's economy. Ireland's economy is mainly driven by exports at this time, but it was not only until recently it has become this way. It was mainly an agricultural country; but do to industrialization, the country has followed in the paths of other European nations in more way than one. The country itself shares currency by using the Euro (valued more than the U.S. dollar), but like the rest of the world it was hard hit in recent years by a resession. At the point of time Ireland is working to bounce back from a hard lost and now "implemented a series of national economic programs designed to curb price and wage inflation, invest in infrastructure, increase labor force skills, and promote foreign investment" (CIA.gov). Due to this though, they must work with the other European countries to make it work and compromise.

Ireland itself is a self sustainable island nation and in fact with today's world economy, the people of the nation are not as bad off as many around the world. 7% of the nation is under the poverty line, which is better than most. The household income average is around 34,000 a year, but with recent years the countries growth has actually dropped by 3%. Its countries inflation has gone up as well by .8% a year in recent coming year. With all this though, the country has proven that it has the ability to bounce back and evolve to an improving economic power.