Ireland flag Ireland: Economic and Political Overview

Foreign trade figures of Ireland

Foreign Trade in Figures

Ireland is a very open economy, and therefore very dependent on the international economic situation and vulnerable to external shocks. Trade accounts for around 237% of GD (the sixth-highest level globally - World Bank, latest data available). According to data by the Central Statistics Office (CSO), in 2023, exports of chemicals & related products totalled over EUR 126 billion, making up nearly two-thirds of total exports. Machinery & transport equipment accounted for 13%, and food & live animals exports reached EUR 14.4 billion, or 7%. Imports were dominated by machinery & transport equipment, which made up 38% of total imports, valued at over EUR 53 billion, including aircraft. Chemicals & related products imports were valued at EUR 40 billion (28%), while food & live animals accounted for 7% of imports.

In 2023, the U.S. was Ireland’s largest export market, receiving EUR 54 billion in exports, which accounted for 28% of the total. The UK followed as the second biggest export partner with EUR 22.4 billion (11%), followed by Germany with EUR 20.4 billion (10%). Belgium and the Netherlands (9% each) rounded out the top five export markets. In 2023, the UK was Ireland’s largest source of imports, with over EUR 26 billion in imports (19% of the total). The U.S. followed with EUR 23 billion in imports (16%), followed by France (13%), China (8%), and Germany (6%) completed the top five import partners (data CSO).

The Irish trade balance is structurally in surplus. According to the WTO, in 2023. Ireland exported goods with a total value of USD 209.5 billion (-2.1% y-o-y), while imports were stable at USD 147 billion. The country also exported USD 397.6 billion worth of services (+2.1%) against USD 389.3 billion in imports (+9.2%). The country’s trade balance was estimated to be positive by 39.9% of GDP in 2023 (World Bank). According to the Central Statistics Office, in the first 11 months of 2024, Ireland's goods exports grew by 14% to exceed EUR 207 billion compared to the same period in 2023, whereas imports fell by EUR 6.8 billion.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 101,10499,823120,301147,269147,065
Exports of Goods (million USD) 169,625180,104190,658214,156209,499
Imports of Services (million USD) 375,826374,204346,704356,480389,313
Exports of Services (million USD) 257,650293,717353,899357,027397,592

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20192020202120222023
Foreign Trade (in % of GDP) 249.7250.1224.4232.1237.2
Trade Balance (million USD) 131,292162,616199,248215,362168,643
Trade Balance (Including Service) (million USD) 20,22492,441222,321226,351181,476
Imports of Goods and Services (Annual % Change) 40.60.0-8.716.01.2
Exports of Goods and Services (Annual % Change) 10.513.814.113.5-5.8
Imports of Goods and Services (in % of GDP) 122.5114.691.495.4102.2
Exports of Goods and Services (in % of GDP) 127.3135.5133.1136.7135.1

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20242025 (e)2026 (e)2027 (e)2028 (e)
Volume of exports of goods and services (Annual % change) 10.03.03.23.23.2
Volume of imports of goods and services (Annual % change) 7.03.53.83.83.8

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Ireland is a member of the following international economic organisations: IMF, European Union, ICC, European Economic Area, WTO, Organization of American States (OAS) (observer), OECD, among others. For the full list of economic and other international organisations in which participates Ireland click here. International organisation membership of Ireland is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Ireland can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2023
United States 27.6%
United Kingdom 11.4%
Germany 10.4%
Belgium 9.4%
Netherlands 8.5%
See More Countries 32.7%
Main Suppliers
(% of Imports)
2023
United Kingdom 18.8%
United States 16.5%
France 12.3%
China 7.7%
Germany 6.5%
See More Countries 38.3%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

212.9 bn USD of products exported in 2023
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products 20.9%
Heterocyclic compounds with nitrogen hetero-atom[s...Heterocyclic compounds with nitrogen hetero-atom[s] only 11.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 10.7%
Hormones, prostaglandins, thromboxanes and...Hormones, prostaglandins, thromboxanes and leukotrienes, natural or reproduced by synthesis; derivatives and structural analogues thereof "incl. chain modified polypeptides", used primarily as hormones 5.8%
Mixtures of odoriferous substances and mixtures,...Mixtures of odoriferous substances and mixtures, incl. alcoholic solutions, based on one or more of these substances, of a kind used as raw materials in industry; other preparations based on odoriferous substances, of a kind used for the manufacture of beverages 4.8%
See More Products 46.3%
150.6 bn USD of products imported in 2023
Powered aircraft "e.g. helicopters and aeroplanes...Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. satellites, and suborbital and spacecraft launch vehicles 13.6%
Heterocyclic compounds with nitrogen hetero-atom[s...Heterocyclic compounds with nitrogen hetero-atom[s] only 11.7%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products 4.8%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.5%
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof 3.1%
See More Products 63.2%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

Return to top

Any Comment About This Content? Report It to Us.

 

© eexpand, All Rights Reserved.
Latest Update: March 2025