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It made them lose money off of exporting food and stuff, Ireland was involved in WWI, otherwise known as the Great War, they didn't have as bad of effects as, say, Germany. I don't know much about Ireland, but Germany's depression was caused by the Treaty of Versailles, and Hitler used it to get his nation all riled up and ready for war.

At the time although Ireland(the 26 counties) was free and independent from Britain we were still a member of the British Commonwealth and we relied almost totally on exporting and importing all our goods from Britain.In the 1930's Britain because of the great depression was in a tough economic time so this meant that Ireland would feel the hit too and then during 1932-1938 the Tariff War between Britain and Ireland began.

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