Importing from Ireland

Ireland Import Guide | Trade Finance Global

Importing from Ireland

The Economic Complexity Index (ECI) has ranked this country’s export economy as the 35th largest one in the world. While Ireland’s trade and export industry is dominated by foreign companies, it is undeniable that exports form a large part of the national income.

Largely because of its large fertile pastures, Ireland’s main exported commodity are its agri-food and drinks, composed of dairy products, cattle and beef which makes up about 8.4% of the country’s total exports. It is estimated that around €9 billion worth of these items are exported annually.

In addition, Ireland also exports nitrogen heterocyclic compounds ($19 billion), scented mixtures ($7 billion) and computers at $5.4 billion. These export commodities are primarily targeted to the United States ($ 22.billion), the United Kingdom ($19 billion), Germany ($10 billion) and France ($8.4 billion).

The recession has been a big blow to Ireland’s economy which is evident in the food and beverage segment. While the value of Irish exports decreased by 12%, the presence of multinational companies such as Apple, Microsoft and Google, exports have been kept alive.

Ireland Country Profile

Official Name (Local Language) Ireland
Capital Dublin
Population 4,952,473
Currency Euro
GDP $307.9 billion
Languages English; Irish
Telephone Dial In 353

Ireland Exports Profile

Exports ($m USD)

138,072

Number of Export Products

3,654

Number of Export Partners

208

Top 5 export partners

Country

Trade

% Partner Share

United States

37,429

27.11

United Kingdom

16,333

11.83

Belgium

15,048

10.90

Germany

11,374

8.24

Switzerland

6,999

05.07

Top 5 Export Products at HS 6 digit level

Export Product

Number

Other medicaments of mixed or unmixed products,

14.4%

Human and animal blood; microbial cultures; tox

12.5%

Mixtures of odoriferous substances, for the foo

9.6%

Compounds with pyrimidine or piperazine ring; n

5.7%

Aircraft nes of an unladen weight exceeding 15,

4.7%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Ireland

Agriculture

%

Product list

1%

Barley, potatoes, wheat; beef, dairy products

Industry

%

Industry list

41.3%

Pharmaceuticals, chemicals, computer hardware and software, food products, beverages and brewing; medical devices

Services

%

Services list

57.6%

Importing from Ireland: What is trade finance?

Ireland receives variety of importable goods such as the refined petroleum which is valued at around $4.4 billion), packaged medicaments at $3.7 billion), followed by planes, helicopters and space craft with $2.4 billion. It also imports computers and data processing equipment, chemicals, textiles and clothing from its import partners.

These import commodities are sourced from primarily from Western countries such as the United Kingdom ($24 billion), the United States ($6.93 billion) and Germany ($6.4 billion) and some Asian countries like China ($3.8 billion).

Wood is also an important commodity that is imported by Ireland because the timber industry has been suffering from deforestation issues.

Information

Importing from Ireland? Contact our local experts

Ireland Economic Statistics

Government Website

https://www.gov.ie/

Sovereign Ratings

https://countryeconomy.com/ratings/ireland

Central Bank

Central Bank of Ireland

Currency USD Exchange Rate

9214

Unemployment Rate

0,08

Population below poverty line

8.2%

Inflation Rate

0.2%

Prime Lending Rate

0.05%

GDP

$307.9 billion

GDP Pro Capita (PPP)

$69,400

Currency Name

Euro

Currency Code

EUR

World Bank Classification

High Income

Competitive Industrial Performance

23/138

Corruption Perceptions Index

19/180

Ease of Doing Business

23/190

Enabling Trade Index

20/136

Currency In Ireland

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