Ireland is the 29th largest export economy in the world and the 13th most complex economy. Ireland exported $159B, making it the 29th largest exporter in the world. Ireland imported $84B, making it the 37th largest importer in the world.
Ireland’s trade has been the reason for the nation’s prosperity. Although the recession devalued the sterling and forced the government to implement various strategies, foreign companies, such as Apple, Microsoft, IBM, Oracle, Google, eBay, Pfizer, Cadbury-Schweppes, Dell and Intel, have kept the exports alive through their wide range of products.
Imports to Ireland decreased were down 2 percent from a year earlier to EUR 6.80 billion in May 2019, mainly due to lower purchases of other transport equipment, including aircraft (-37 percent); while gains were reported in imports of office machines and automatic data processing machines (60 percent) and organic chemicals (83 percent). The EU accounted for EUR 4.33 billion, or 64 percent, of total goods imports in May, which is an increase of EUR 48 million, or 1 percent, compared with May 2018. Imports from Great Britain decreased EUR 65 million, or 4 percent, to EUR 1.48 billion. Imports from Great Britain were 22 percent of the value of total imports in May. The US with EUR 696 million, or 10 percent, and China with EUR 406 million, or 6 percent, were the main non-EU sources of imports. Imports in Ireland averaged 2676513.19 EUR Thousand from 1970 until 2019, reaching an all time high of 8985700 EUR Thousand in December of 2018 and a record low of 62344 EUR Thousand in August of 1970.
Imports in Ireland is expected to be 6700000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Ireland to stand at 8100000.00 in 12 months time. In the long-term, the Ireland Imports is projected to trend around 9500000.00 EUR Thousand in 2020
Imports to Ireland hit an all-time high of EUR 77 billion. The country imported mainly machinery and transport equipment (39 percent of total imports), namely other transport equipment, including aircraft (19 percent), road vehicles (5 percent), office machines and automatic data processing machines, including computers (4 percent), and electrical machinery, apparatus and appliances and parts (3 percent). Others include: chemicals and related products (23 percent), of which medical and pharmaceutical products (11 percent); miscellaneous manufactured articles (11 percent); food and live animals (9 percent); and petroleum, petroleum products and related materials (5 percent). Main import partners were: the United Kingdom (24 percent of total imports); the United States (20 percent); France (13 percent); Germany (9 percent); China (6 percent); and the Netherlands (3 percent).
Exports from Ireland grew 14 percent from a year earlier to EUR 13.52 billion in May 2019, boosted by sales of organic chemicals (98 percent), electrical machinery, apparatus and appliances (86 percent), and professional, scientific and controlling apparatus (23 percent). By contrast, exports of medical and pharmaceutical products slumped 19 percent. The EU accounted for EUR 6.79 billion, or 50 percent, of total goods exports in May of which EUR 1.52 billion went to Germany and EUR 1.43 billion was exported to Belgium. Total EU exports in May rose EUR 1.03 billion, or 18 percent from a year earlier, with exports to Great Britain increasing EUR 52 million, or 4 percent, to EUR 1.25 billion. The US was the main non-EU destination accounting for EUR 3.73 billion, or 28 percent, of total exports in May. Exports in Ireland averaged 4021824.97 EUR Thousand from 1970 until 2019, reaching an all time high of 13615700 EUR Thousand in January of 2019 and a record low of 44885 EUR Thousand in August of 1970.
Exports in Ireland is expected to be 11900000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Ireland to stand at 13200000.00 in 12 months time. In the long-term, the Ireland Exports is projected to trend around 12500000.00 EUR Thousand in 2020
Exports remain the primary engine for Ireland’s growth. In 2017, exports hit an all-time high of EUR 122 billion. The country exported mostly: chemicals and related products (55 percent of total exports), mainly medical and pharmaceutical products (29 percent), organic chemicals (16 percent), and essential oils, perfume materials, toilet and cleansing preparations (6 percent). Others include: machinery and transport equipment (17 percent), of which electrical machinery, apparatus and appliances and parts (5 percent) and other transport equipment, including aircraft (5 percent); miscellaneous manufactured articles (12 percent); and food and live animals (9 percent). Main export partners were: the United States (27 percent of total exports); the United Kingdom (13 percent); Belgium (11 percent); Germany (8 percent); Switzerland and the Netherlands (5 percent each), France and China (4 percent each).
