Ireland2021 Economic Complexity Trade : 1.29, Rank 17 of 131
2021 Economic Complexity Technology : 0.62, Rank 36 of 96
2021 Economic Complexity Research : 1.54, Rank 18 of 140
2021 Product Exports | Imports: $212B | $116B, 30 of 226 | 36 of 226
2021 Per Capita Product Exports | Imports: $42.2k | $23.1k, 3 of 219 | 11 of 219
Overview In 2021, Ireland was the number 25 economy in the world in terms of GDP (current US$), the number 30 in total exports, the number 36 in total imports, the number 3 economy in terms of GDP per capita (current US$) and the number 17 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Ireland are Vaccines, blood, antisera, toxins and cultures ($36.5B), Packaged Medicaments ($32.8B), Nitrogen Heterocyclic Compounds ($22.4B), Integrated Circuits ($15.3B), and Scented Mixtures ($9.37B), exporting mostly to United States ($59.8B), Germany ($23.3B), United Kingdom ($19.7B), China ($14.2B), and Belgium ($13.6B).
In 2021, Ireland was the world's biggest exporter of Nitrogen Heterocyclic Compounds ($22.4B), Scented Mixtures ($9.37B), Nucleic Acids ($5.99B), Hormones ($5.99B), and Sulfonamides ($3.42B)
Imports The top imports of Ireland are Planes, Helicopters, and/or Spacecraft ($16.5B), Vaccines, blood, antisera, toxins and cultures ($5.03B), Nitrogen Heterocyclic Compounds ($4.95B), Packaged Medicaments ($4.82B), and Integrated Circuits ($3.83B), importing mostly from United Kingdom ($28.4B), United States ($18.6B), France ($12.5B), Germany ($8.68B), and Netherlands ($6.76B).
In 2021, Ireland was the world's biggest importer of Planes, Helicopters, and/or Spacecraft ($16.5B)
Location Ireland borders United Kingdom by land.
March, 2023
Overview In March 2023 Ireland exported €18.8B and imported €11.2B, resulting in a positive trade balance of €7.64B. Between March 2022 and March 2023 the exports of Ireland have decreased by €-1.34B (-6.62%) from €20.2B to €18.8B, while imports increased by €150M (1.36%) from €11B to €11.2B.
Trade In March 2023, the top exports of Ireland were Medicinal and pharmaceutical products (€7.22B), Organic chemicals (€3.39B), Professional, scientific and controlling apparatus (€965M), Electrical machinery, appliances etc., n.e.s. (€926M), and Essential oils, perfume materials, toilet preparations... (€922M). In March 2023 the top imports of Ireland were Other transport equipment (€1.72B), Organic chemicals (€1.62B), Medicinal and pharmaceutical products (€787M), Electrical machinery, appliances etc., n.e.s. (€666M), and Inorganic chemicals (€638M).
Destinations In March 2023, Ireland exported mostly to United States (€5.65B), United Kingdom (€2.18B), Germany (€1.99B), Netherlands (€1.31B), and Belgium (€1.27B), and imported mostly from United Kingdom (€1.92B), United States (€1.58B), France (€1.41B), Germany (€833M), and Spain (€724M).
Growth In March 2023, the decrease in Ireland's year-by-year exports was explained primarily by an decrease in exports to United States (€-1.72B or -23.4%), Germany (€-523M or -20.8%), and Unclassified (€-433M or -44.7%), and product exports decrease in Medicinal and pharmaceutical products (€-1.99B or -21.6%), Electrical machinery, appliances etc., n.e.s. (€-334M or -26.5%), and Office machines and automatic data processing... (€-59.5M or -16.1%). In March 2023, the increase in Ireland's year-by-year imports was explained primarily by an increase in imports from France (€746M or 113%), Portugal (€607M or 2.22k%), and Spain (€535M or 284%), and product imports increase in Other transport equipment (€1.18B or 220%), Inorganic chemicals (€590M or 1.24k%), and Road vehicles (€60.2M or 15.6%).
EXPORT GROWTH (March 2022 - March 2023): €-1.34B, (-6.62%)
IMPORT GROWTH (March 2022 - March 2023): €150M, (1.36%)
MAIN DESTINATION (March 2023): United States, €5.65B
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.
For full datasets download visit Bulk Download page.
Top Export (2021): Vaccines, blood, antisera, toxins and cultures, $36.5B
Top Destination (2021): United States, $59.8B
In 2021, Ireland exported a total of $212B, making it the number 30 exporter in the world. During the last five reported years the exports of Ireland have changed by $59.5B from $153B in 2016 to $212B in 2021.
The most recent exports are led by Vaccines, blood, antisera, toxins and cultures ($36.5B), Packaged Medicaments ($32.8B), Nitrogen Heterocyclic Compounds ($22.4B), Integrated Circuits ($15.3B), and Scented Mixtures ($9.37B). The most common destination for the exports of Ireland are United States ($59.8B), Germany ($23.3B), United Kingdom ($19.7B), China ($14.2B), and Belgium ($13.6B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
Ireland Exports Services (2020): $122B
Ireland Imports Services (2020): $240B
In 2020, Ireland exported $122B worth of services. The top services exported by Ireland in 2020 were Miscellaneous business, professional, and technical services ($44.6B), Operational leasing services ($20.7B), Financial services ($19.5B), Other royalties and license fees ($14.9B), and Other direct insurance ($7.47B).
The top services imported by Ireland in 2020 were Other royalties and license fees ($96.4B), Miscellaneous business, professional, and technical services ($79.4B), Merchanting and other trade-related services ($25.6B), Financial services ($17.8B), and Reinsurance ($4.35B).
Ireland has a high level of specialization in Sulfonamides (33.8), Scented Mixtures (32.2), Hormones (29.7), Nitrogen Heterocyclic Compounds (26.4), and Nucleic Acids (23.2). 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 Discs, tapes, solid-state non-volatile storage devices, smart cards and other media for... (1.79), Instruments and apparatus; for physical or chemical analysis (e.g. polarimeters, spectrometers), for... (1.65), Fork-lift and other works trucks; fitted with lifting or handling equipment (1.51), Reagents; diagnostic or laboratory reagents on a backing and prepared diagnostic or... (1.49), and Electronic integrated circuits (1.45). 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, were Phosphides (0.14), Bulbs and Roots (0.12), Prints (0.12), Revenue Stamps (0.12), and Precious Metal Watches (0.12). 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 17th 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.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v5.1.15 owl