The economy of Ireland has been traditionally agricultural.
Private enterprise operates in most sectors of the economy.
Manufacturing Ireland has diversified manufacturing, most of it developed since 1930. Among the food-processing industries, the most important are meat packing, brewing and distilling, grain milling, sugar refining, and the manufacture of dairy products, margarine, confections, and jam. Before March 1979, the Irish pound was exchangeable at a par with the British pound sterling. The Central Bank of Ireland, established in 1942, is the bank of issue. Mergers have reduced the number of these associated banks.