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.
May, 2023
Overview In May 2023 Ireland exported €16.7B and imported €11.6B, resulting in a positive trade balance of €5.05B. Between May 2022 and May 2023 the exports of Ireland have decreased by €-1.32B (-7.31%) from €18B to €16.7B, while imports decreased by €-1.15B (-9.02%) from €12.8B to €11.6B.
Trade In May 2023, the top exports of Ireland were Medicinal and pharmaceutical products (€6.49B), Organic chemicals (€2.36B), Essential oils, perfume materials, toilet preparations... (€971M), Professional, scientific and controlling apparatus (€876M), and Miscellaneous manufactured articles, n.e.s. (€833M). In May 2023 the top imports of Ireland were Organic chemicals (€1.93B), Medicinal and pharmaceutical products (€1.33B), Other transport equipment (€1.18B), Electrical machinery, appliances etc., n.e.s. (€613M), and Road vehicles (€570M).
Destinations In May 2023, Ireland exported mostly to United States (€4.18B), United Kingdom (€2.05B), Germany (€1.82B), Netherlands (€1.45B), and Belgium (€1.33B), and imported mostly from United Kingdom (€1.77B), United States (€1.56B), Switzerland (€1.31B), France (€1.24B), and Germany (€1B).
Growth In May 2023, the decrease in Ireland's year-by-year exports was explained primarily by an decrease in exports to United States (€-1.24B or -22.9%), China (€-672M or -42.2%), and Japan (€-254M or -46%), and product exports decrease in Medicinal and pharmaceutical products (€-580M or -8.2%), Organic chemicals (€-563M or -19.3%), and Electrical machinery, appliances etc., n.e.s. (€-444M or -35.8%). In May 2023, the decrease in Ireland's year-by-year imports was explained primarily by an decrease in imports from China (€-923M or -58.7%), United Kingdom (€-613M or -25.8%), and Unclassified (€-490M or -45.6%), and product imports decrease in Chemical materials and products, n.e.s. (€-620M or -83.5%), Electrical machinery, appliances etc., n.e.s. (€-354M or -36.6%), and Petroleum, petroleum products and related materials (€-334M or -47.3%).
EXPORT GROWTH (May 2022 - May 2023): €-1.32B, (-7.31%)
IMPORT GROWTH (May 2022 - May 2023): €-1.15B, (-9.02%)
MAIN DESTINATION (May 2023): United States, €4.18B
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 (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 8th 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.
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