Ireland's Top Imports And Exports

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In 2020, Ireland exported items worth US$178.7 billion around the world. This figure represents a 35.4 percent growth from 2016 and a 4.7 percent annual increase from 2019 to 2020.

Geographically, Ireland is the second-largest island in the British Isles, Europe's third-largest island, and the world's twentieth-largest island.

By value, 53.2 percent of Ireland's exports were supplied to fellow European countries, while 32.7 percent were sold to North American buyers, according to a continental perspective. 

Another 12.1 percent of Ireland's exports went to Asia. 

Africa (0.9 percent), Oceania (0.6 percent), and Latin America (without Mexico but includes the Caribbean) received smaller percentages (also 0.6 percent ).

Ireland's Top Trading Partners

The following is a list of 15 of Ireland's most important trading partners in terms of export sales. 

That is, in terms of dollar value, the nations that imported the greatest Irish shipments in 2020. 

The percentage of total Irish exports for each import nation is also indicated.

1. United States: US$53.8 billion (30.1% of Ireland's total exports)

2. Belgium: $20.4 billion (11.4%)

3. Germany: $19.9 billion (11.1%)

4. United Kingdom: $16.5 billion (9.3%)

5. China: $11.2 billion (6.3%)

6. Netherlands: $9.7 billion (5.4%)

7. France: $5.8 billion (3.2%)

8. Italy: $5.2 billion (2.9%)

9. Switzerland: $3.7 billion (2.1%)

10. Japan: $3.1 billion (1.7%)

11. Spain: $2.8 billion (1.5%)

12. Greece: $2 billion (1.1%)

13. Canada: $1.9 billion (1.1%)

14. Mexico: $1.5 billion (0.9%)

15. Poland: $1.3 billion (0.7%)

In 2020, nearly nine-tenths (88.9%) of Irish exports will be sent to the above 15 trade partners.

Greece, with an increase of 114.4 percent, was the fastest-growing of Ireland's top imports. 

Germany (up 30.5 percent), China (up 21.4 percent), Italy (up 20.7 percent), and Belgium (up 20.7 percent) are among the other countries with double-digit percentage improvements (up 17.6 percent ).

Switzerland was the country with the biggest drop in imports from Ireland, down -40.7 percent year on year.

Ireland's Top Imports

In 2020, Ireland imported US$98 billion in goods from throughout the world, up 19.4% from 2016, but decreasing -3.5 percent from 2019 to 2020.

The euro has appreciated by 3.1 percent against the US dollar since 2016, according to the average exchange rate for 2020, and has increased by 2% from 2019 to 2020. 

Ireland's imports paid in weaker US dollars were relatively more expensive when converted from euros due to the stronger EU currency.

Imports from Ireland account for 0.5 percent of overall global imports, which totaled $19.085 trillion in 2019.

From a continental viewpoint, other European nations accounted for 73.1 percent of Ireland's total imports by value in 2020. 

14.2 percent of Ireland's import purchases came from North American trading partners, while 10.8 percent came from Asia. 

Latin America (1%) omitting Mexico but including the Caribbean, Africa (0.4%), and Oceania (0.2%), led by Australia and New Zealand, accounting for far lesser percentages of Irish imports.

Given Ireland's population of 5 million people, the country's total $98 billion in 2020 imports equates to nearly $19,600 in annual product demand from each individual in the European island nation.

The following product groups account for the majority of Ireland's import purchases in 2020. 

The percentage proportion of each product category in terms of total imports into Ireland is also given.

1. Aircraft, spacecraft: US$14.3 billion (14.6% of total imports)

2. Machinery including computers: $11.9 billion (12.2%)

3. Pharmaceuticals: $10.2 billion (10.4%)

4. Organic chemicals: $9.6 billion (9.8%)

5. Electrical machinery, equipment: $6.6 billion (6.8%)

6. Mineral fuels including oil: $4 billion (4.1%)

7. Vehicles: $3.7 billion (3.8%)

8. Optical, technical, and medical apparatus: $3.6 billion (3.7%)

9. Plastics, plastic articles: $3 billion (3%)

10. Beverages, spirits, vinegar: $1.2 billion (1.2%)

Ireland's top imports account for over three-quarters (69.7%) of the total value of its foreign goods purchases. Organic chemicals (up 69%), pharmaceuticals (up 33.8%), and beverages-related goods all grew at the quickest rate from 2019 to 2020. (up 11.9 percent ).

The very capital-intensive aircraft and spacecraft category led the decliners with a -39.6 percent drop year over year.

Ireland's Top Exports

The Republic of Ireland, which is separate from Northern Ireland, which is part of the United Kingdom, sent US$178.7 billion worth of goods throughout the world in 2020. 

This figure represents a 35.4 percent growth from 2016 and a 4.7 percent annual increase from 2019 to 2020.

The euro has appreciated by 3.1 percent against the US dollar since 2016, according to the average exchange rate for 2020, and has increased by 2% from 2019 to 2020. 

For many overseas buyers, Ireland's goods paid for in weaker US dollars were relatively more expensive due to the stronger EU euro.

Blood fractions, including antisera, pharmaceutical mixtures in dose, organic compounds, particularly heterocyclics, electronic circuits, and electro-medical equipment were Ireland's top export items by value in 2020. 

In all, the big exports accounted for 60.1 percent of Ireland's total export sales. This percentage indicates that the variety of exported items is somewhat concentrated. Ireland is a world leader in the export of blood fractions such as antisera, as well as a top exporter of medications and medicines in general. 

On the worldwide market, the European country is also a key competitor selling medical, surgical, and veterinarian instruments.

According to the most recent available country-specific data, importers in the United States (30.1 percent of the global total), Belgium (11.4 percent), Germany (11.1 percent), the United Kingdom (9.3 percent), China (6.3 percent), the Netherlands (5.4 percent), France (3.2 percent), Italy (2.9 percent), Switzerland (2.1 percent), Japan (1.7 percent), Spain (1.5 percent), and Greece (1.5 percent) purchased 86.3 percent of products exported from Ireland (1.1 percent ).

In terms of value, 53.2 percent of Ireland's exports were sent to other European countries, while 32.7 percent were sold to North American importers. 

Another 12.1 percent of Ireland's exports went to Asia. 

Africa (0.9 percent), Oceania (0.6 percent), and Latin America (without Mexico but includes the Caribbean) received smaller percentages (also 0.6 percent ).

Given Ireland's population of 5 million people, the island country's total export goods worth $178.7 billion in 2020 equates to an astounding $35,700 for each resident.

In terms of monetary value, the following export product groups will account for the majority of Irish global shipments in 2020. 

The percentage share of each export category in terms of total exports from Ireland is also shown.

$65.7 billion in pharmaceuticals (36.8 percent of total exports)

$40.5 billion in organic chemicals (22.7 percent )

$13.5 billion in optical, technical, and medical equipment (7.6 percent )

$12.7 billion in electrical machinery and equipment (7.1 percent )

$9.2 billion on machinery, including computers (5.1 percent )

$4.8 billion in perfumes and cosmetics (2.7 percent )

$3.6 billion in meat (2 percent )

$3.3 billion in dairy, eggs, and honey (1.9 percent )

$3.3 billion in other chemical goods (1.9 percent )

$2.8 billion for aircraft and spacecraft (1.6 percent )

The top ten exports from Ireland accounted for 89.2 percent of the total value of the country's global shipments.

Pharmaceuticals are the fastest-growing export category among the top ten, with a 23.1 percent increase since 2019. Organic chemicals came in second with a 13.7 percent increase in export sales. 

Electrical machinery and equipment shipments from Ireland grew at the third-fastest rate, increasing by 7.1 percent year over year. The fragrances and cosmetics sector, which plunged -45.4 percent, was the worst loser among Ireland's top 10 export categories.

SOURCES: 

https://www.worldstopexports.com/irelands-top-10-imports/

https://www.worldstopexports.com/irelands-top-10-exports/

https://www.worldstopexports.com/irelands-top-import-partners/

 

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