Economic history of the Republic of Ireland

The economic history of the Republic of Ireland effectively began in 1922, when the then Irish Free State won independence from the United Kingdom. The state was plagued by poverty and emigration until the 1960s when an upturn led to the reversal of long term population decline. However, global and domestic factors combined in the 1970s and 1980s to return the country to poor economic performance and emigration. The 1990s, however saw the beginning of unprecedented economic success, in a phenomenon known as the "Celtic Tiger", which continued until the 2008 global financial crisis, specifically the post-2008 Irish economic downturn. It also led to Ireland becoming the most indebted state in the European Union. As of 2015, the Republic has returned to growth, and was the fastest growing economy for that year. In May 2023, Irish unemployment was at a record low of 3.8%.

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