Ireland2020 Economic Complexity : 1.34, Rank 16 of 127
2020 Product Exports | Imports: $197B | $87.5B, 26 of 226 | 37 of 226
2020 Per Capita Product Exports | Imports: $39.4k | $17.5k, 2 of 219 | 12 of 219
2018 Service Exports | Imports : $140B | $278B, 14 of 125 | 13 of 125
Overview In 2020 Ireland was the number 27 economy in the world in terms of GDP (current US$), the number 26 in total exports, the number 37 in total imports, the number 5 economy in terms of GDP per capita (current US$) and the number 16 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Ireland are Blood, antisera, vaccines, toxins and cultures ($33B), Packaged Medicaments ($32.4B), Nitrogen Heterocyclic Compounds ($26.3B), Integrated Circuits ($11.2B), and Scented Mixtures ($8.65B), exporting mostly to United States ($57.4B), Germany ($22.7B), United Kingdom ($17.5B), Belgium ($16.2B), and China ($11.9B).
In 2020, Ireland was the world's biggest exporter of Nitrogen Heterocyclic Compounds ($26.3B), Scented Mixtures ($8.65B), Nucleic Acids ($7.27B), Hormones ($4.3B), and Sulfonamides ($4.01B)
Imports The top imports of Ireland are Planes, Helicopters, and/or Spacecraft ($5.48B), Packaged Medicaments ($4.14B), Blood, antisera, vaccines, toxins and cultures ($4.06B), Computers ($3.7B), and Nitrogen Heterocyclic Compounds ($2.69B), importing mostly from United Kingdom ($26.8B), United States ($12.6B), Germany ($8.36B), Netherlands ($5.03B), and China ($4.89B).
In 2020, Ireland was the world's biggest importer of Unpackaged Medicaments ($1.32B)
Location Ireland borders United Kingdom by land.
November, 2021
Overview In November 2021 Ireland exported €15.3B and imported €9.87B, resulting in a positive trade balance of €5.39B. Between November 2020 and November 2021 the exports of Ireland have increased by €547M (3.72%) from €14.7B to €15.3B, while imports increased by €944M (10.6%) from €8.92B to €9.87B.
Trade In November 2021, the top exports of Ireland were Medicinal and pharmaceutical products (€5.9B), Organic chemicals (€2.32B), Electrical machinery, appliances etc., n.e.s. (€1.13B), Miscellaneous manufactured articles, n.e.s. (€789M), and Essential oils, perfume materials, toilet preparations... (€787M). In November 2021 the top imports of Ireland were Other transport equipment (€1.24B), Medicinal and pharmaceutical products (€1B), Organic chemicals (€954M), Electrical machinery, appliances etc., n.e.s. (€758M), and Miscellaneous manufactured articles, n.e.s. (€620M).
Destinations In November 2021, Ireland exported mostly to United States (€4.94B), United Kingdom (€2.04B), Germany (€1.53B), Belgium (€1.28B), and China (€1.02B), and imported mostly from United Kingdom (€1.93B), United States (€1.52B), China (€1.01B), France (€894M), and Germany (€747M).
Growth In November 2021, the increase in Ireland's year-by-year exports was explained primarily by an increase in exports to United States (€1.15B or 30%), Unclassified (€355M or 76.3%), and China (€242M or 43.7%), and product exports increase in Medicinal and pharmaceutical products (€992M or 22.8%), Other transport equipment (€388M or 176%), and Electrical machinery, appliances etc., n.e.s. (€282M or 48.6%). In November 2021, the increase in Ireland's year-by-year imports was explained primarily by an increase in imports from Unclassified (€264M or 78.9%), Switzerland (€159M or 267%), and Belgium (€141M or 113%), and product imports increase in Organic chemicals (€291M or 111%), Miscellaneous manufactured articles, n.e.s. (€99.4M or 36.4%), and Medicinal and pharmaceutical products (€47.8M or 8.67%).
EXPORT GROWTH (November 2020 - November 2021): €547M, (3.72%)
IMPORT GROWTH (November 2020 - November 2021): €944M, (10.6%)
MAIN DESTINATION (November 2021): United States, €4.94B
This section shows exports and imports data at subnational level for Ireland. Click any date in the line plot, or any product, destination or origin country to explore the exports or imports behavior of Ireland over time.
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Top Export (2020): Blood, antisera, vaccines, toxins and cultures, $33B
Top Destination (2020): United States, $57.4B
In 2020, Ireland exported a total of $197B, making it the number 26 exporter in the world. During the last five reported years the exports of Ireland have changed by $62.8B from $134B in 2015 to $197B in 2020.
The most recent exports are led by Blood, antisera, vaccines, toxins and cultures ($33B), Packaged Medicaments ($32.4B), Nitrogen Heterocyclic Compounds ($26.3B), Integrated Circuits ($11.2B), and Scented Mixtures ($8.65B). The most common destination for the exports of Ireland are United States ($57.4B), Germany ($22.7B), United Kingdom ($17.5B), Belgium ($16.2B), and China ($11.9B).
Top Import (2020): Planes, Helicopters, and/or Spacecraft, $5.48B
Top Origin (2020): United Kingdom, $26.8B
In 2020 Ireland imported $87.5B, making it the number 37 trade destination in the world. During the last five reported years the imports of Ireland changed by $13.9B from $73.6B in 2015 to $87.5B in 2020.
The most recent imports of Ireland are led by Planes, Helicopters, and/or Spacecraft ($5.48B), Packaged Medicaments ($4.14B), Blood, antisera, vaccines, toxins and cultures ($4.06B), Computers ($3.7B), and Nitrogen Heterocyclic Compounds ($2.69B). The most common import partners for Ireland are United Kingdom ($26.8B), United States ($12.6B), Germany ($8.36B), Netherlands ($5.03B), and China ($4.89B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Ireland Exports Services (2018): $140B
Ireland Imports Services (2018): $278B
In 2018, Ireland exported $140B worth of services. The top services exported by Ireland in 2018 were Other business services ($62.3B), Royalties and license fees ($19.3B), Insurance services ($15.9B), Financial services ($15.2B), and Transportation ($12.7B).
The top services imported by Ireland in 2018 were Royalties and license fees ($118B), Other business services ($118B), Insurance services ($13.2B), Financial services ($12.5B), and Personal travel ($8.92B).
The top product import tariffs by their MFN Ad Valorem value for Ireland are Vermouth and other flavoured grape wines - pack > 2l (72.3k%)and Vermouth and other flavoured grape wines - pack > 2l (50.6k%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Ireland are:
Ireland has a high level of specialization in Sulfonamides (34.9), Scented Mixtures (28.4), Nitrogen Heterocyclic Compounds (26.9), Nucleic Acids (25.3), and Hormones (19.2). Specialization is measured using RCA, an index that takes the ratio between Ireland observed and expected exports in each product.
The highest complexity exports of Ireland according to the product complexity index (PCI) are Prepared unrecorded sound recording media (non-photo) (1.85), Fork-lift trucks, other trucks with lifting equipment (1.6), Heterocyclic compounds, nes (1.57), Organo-inorganic compounds, nes (1.48), and Heterocyclics, nitrogen hetero atom only, nucleic acid (1.46). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Ireland according to the relatedness index, are Cobalt Oxides and Hydroxides (0.1), Bulbs and Roots (0.1), Revenue Stamps (0.1), Prints (0.1), and Wool (0.099). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Ireland is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Ireland's economy has become relatively less complex, moving from the 10th to the 16th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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