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In line with the sea-change in the Irish economic landscape, the traditional focus of economic activity has shifted from agriculture to industry. Ireland has become the main European centre for the high-technology sectors of manufacturing while other major industries include fishing, pharmaceutical and financial services. The tertiary or services sector has in the last decade been increasing steadily in its importance to the Irish economy. Recent development in the tourist industry has seen an increase in the number of visitors; 6 million people now visit Ireland annually, spending £2,000,000,000.
Ireland is the second largest exporter of software in the world behind the US with the industry worth £18.7 billion in annual exports. High-profile companies such as Microsoft, Oracle, and Sun Microsystems have established their European headquarters in Ireland, while bluechip hardware manufacturers such as Dell, IBM, Gateway and Intel all have major bases in Ireland. One of the major incentives for these companies to establish a presence in Ireland has been the tax breaks offered to multinationals by the Government.

Since the mid-1950s the country's industrial base has expanded, and now mining, manufacturing, construction, and public utilities account for approximately 34 per cent of the Gross Domestic Product, while agriculture accounts for only about four per cent. Private enterprise operates in most sectors of the economy. The Gross Domestic Product in 2000 was £81,049 billion. The Irish economy is heavily reliant on exports; in March 2001, exports were valued at £6,908m while imports were valued at £4,312m.

Some 19 per cent of the total area of Ireland is cultivated, and much of the rest is devoted to pasture. The agricultural enterprise producing the most income is animal husbandry. In 1999, livestock included 7.1 million cattle, 5.7 million sheep, 1.8 million hogs, and 52,000 horses. Poultry production is also important. The principal field crops are wheat, barley, oats, and potatoes. Among other important crops are hay, turnips, and sugar beets. The best farmlands are found in the east and southeast.

The Government has undertaken extensive schemes of reforestation in an effort to reduce the country's dependence on timber imports and to provide raw material for new paper mills and related industries. In 1999, forests occupied 9 per cent of Ireland's total land area. The processed output from forests comprises two complementary sectors; sawmills and board mills. Sales from sawmills amounted to £130m in 1999 and sales from board mills amounts to approximately £170m per annum.

The fishing industry, which has traditionally been underdeveloped, is expanding; the catch recorded for 1999 was 360,954. Deep-sea catches include herring, cod, mackerel, whiting, and plaice. Crustaceans, particularly lobsters, crayfish, and prawns, and such molluscs as oysters and periwinkles, are plentiful in coastal waters and form the bulk of the country's seafood exports. The inland rivers and lakes provide excellent fishing for salmon, trout, eel, and several varieties of coarse fish.

Although mining plays a relatively minor role in the Irish economy, discoveries of new deposits in recent decades have led to a considerable expansion of mineral production. Mineral output in 1999 included 223,000 tonnes of zinc and 39, 000 tonnes of lead. Ireland is one of the leading exporters of lead and zinc in Europe and 2.8 and 1.3 per cent of global output respectively. Natural gas is extracted off the southwestern coast; yearly output in 1998 was 1.7 billion cubic m (61.5 billion cubic ft). This is likely to increase from 2002 when the recently discovered natural gas field of the North-west coast will be brought to shore. Peat is dug in large quantities for domestic and industrial fuel and also for horticultural purposes. The sales revenue accrued from the output in 1999 was £66m.

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. Other important manufactured articles include office machinery and data-processing equipment; electrical machinery; tobacco products; woollen and worsted goods; clothing; cement; furniture; soap; candles; building materials; footwear; cotton, rayon, and linen textiles; hosiery; paper; leather; machinery; refined petroleum; and chemicals.