Ireland2019 Economic Complexity : 1.32, Rank 19 of 146
2019 Product Exports | Imports: $190B | $87.7B, 28 of 225 | 40 of 225
2019 Per Capita Product Exports | Imports: $38.5k | $17.7k, 2 of 219 | 14 of 219
2018 Service Exports | Imports : $140B | $278B, 14 of 125 | 13 of 125
Overview In 2019 Ireland was the number 31 economy in the world in terms of GDP (current US$), the number 28 in total exports, the number 40 in total imports, the number 5 economy in terms of GDP per capita (current US$) and the number 19 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Ireland are Blood, antisera, vaccines, toxins and cultures ($32.6B), Nitrogen Heterocyclic Compounds ($27.8B), Packaged Medicaments ($27.8B), Integrated Circuits ($10B), and Scented Mixtures ($8.68B), exporting mostly to United States ($53.7B), Belgium ($19B), Germany ($18.5B), United Kingdom ($17.7B), and China ($10.2B).
In 2019, Ireland was the world's biggest exporter of Nitrogen Heterocyclic Compounds ($27.8B), Scented Mixtures ($8.68B), Sulfonamides ($4.68B), and Nucleic Acids ($4.43B)
Imports The top imports of Ireland are Planes, Helicopters, and/or Spacecraft ($7.64B), Computers ($3.74B), Packaged Medicaments ($3.35B), Refined Petroleum ($3.35B), and Blood, antisera, vaccines, toxins and cultures ($3.28B), importing mostly from United Kingdom ($26.9B), United States ($14.4B), Germany ($8.77B), Netherlands ($4.67B), and France ($4.45B).
Location Ireland borders United Kingdom by land.
June, 2021
Overview In June 2021 Ireland exported €14.4B and imported €9.67B, resulting in a positive trade balance of €4.77B. Between June 2020 and June 2021 the exports of Ireland have increased by €826M (6.07%) from €13.6B to €14.4B, while imports increased by €2.98B (44.5%) from €6.69B to €9.67B.
Trade In June 2021, the top exports of Ireland were Medicinal and pharmaceutical products (€5.98B), Organic chemicals (€1.71B), Electrical machinery, appliances etc., n.e.s. (€1B), Miscellaneous manufactured articles, n.e.s. (€796M), and Essential oils, perfume materials, toilet preparations... (€686M). In June 2021 the top imports of Ireland were Organic chemicals (€1.87B), Other transport equipment (€1.45B), Medicinal and pharmaceutical products (€869M), Electrical machinery, appliances etc., n.e.s. (€713M), and Miscellaneous manufactured articles, n.e.s. (€377M).
Destinations In June 2021, Ireland exported mostly to United States (€4.27B), Germany (€1.9B), United Kingdom (€1.75B), China (€1.01B), and Netherlands (€857M), and imported mostly from France (€1.79B), United Kingdom (€1.43B), United States (€1.06B), Switzerland (€965M), and Unclassified (€883M).
Growth In June 2021, the increase in Ireland's year-by-year exports was explained primarily by an increase in exports to United States (€802M or 23.1%), United Kingdom (€690M or 65.3%), and Norway (€278M or 1.11k%), and product exports increase in Medicinal and pharmaceutical products (€335M or 5.93%), Electrical machinery, appliances etc., n.e.s. (€280M or 38.9%), and Miscellaneous manufactured articles, n.e.s. (€246M or 44.8%). In June 2021, the increase in Ireland's year-by-year imports was explained primarily by an increase in imports from France (€1.08B or 154%), Switzerland (€611M or 173%), and Unclassified (€574M or 185%), and product imports increase in Organic chemicals (€1.25B or 202%), Other transport equipment (€557M or 62.5%), and Electrical machinery, appliances etc., n.e.s. (€466M or 189%).
EXPORT GROWTH (June 2020 - June 2021): €826M, (6.07%)
IMPORT GROWTH (June 2020 - June 2021): €2.98B, (44.5%)
MAIN DESTINATION (June 2021): United States, €4.27B
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 (2019): Blood, antisera, vaccines, toxins and cultures, $32.6B
Top Destination (2019): United States, $53.7B
In 2019, Ireland exported a total of $190B, making it the number 28 exporter in the world. During the last five reported years the exports of Ireland have changed by $50B from $140B in 2014 to $190B in 2019.
The most recent exports are led by Blood, antisera, vaccines, toxins and cultures ($32.6B), Nitrogen Heterocyclic Compounds ($27.8B), Packaged Medicaments ($27.8B), Integrated Circuits ($10B), and Scented Mixtures ($8.68B). The most common destination for the exports of Ireland are United States ($53.7B), Belgium ($19B), Germany ($18.5B), United Kingdom ($17.7B), and China ($10.2B).
Top Import (2019): Planes, Helicopters, and/or Spacecraft, $7.64B
Top Origin (2019): United Kingdom, $26.9B
In 2019 Ireland imported $87.7B, making it the number 40 trade destination in the world. During the last five reported years the imports of Ireland changed by -$316M from $88B in 2014 to $87.7B in 2019.
The most recent imports of Ireland are led by Planes, Helicopters, and/or Spacecraft ($7.64B), Computers ($3.74B), Packaged Medicaments ($3.35B), Refined Petroleum ($3.35B), and Blood, antisera, vaccines, toxins and cultures ($3.28B). The most common import partners for Ireland are United Kingdom ($26.9B), United States ($14.4B), Germany ($8.77B), Netherlands ($4.67B), and France ($4.45B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
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 Sugar beet (178%) and Whey (173%).
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 (40.3), Scented Mixtures (31.7), Nitrogen Heterocyclic Compounds (31.6), Nucleic Acids (22.1), and Casein (16). 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 Cermets and articles thereof, waste or scrap (1.93), Prepared unrecorded sound recording media (non-photo) (1.74), Equipment for physical and chemical analysis (1.72), Fork-lift trucks, other trucks with lifting equipment (1.67), and Organo-inorganic compounds, nes (1.56). 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 Vitamins (0.11), Malt (0.11), Photographic Paper (0.11), Armored vehicles (0.11), and Newsprint (0.11). 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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.
During the last 20 years Ireland's economy has become relatively less complex, moving from the 10th to the 19th 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.