From 2021 to 2022, total international sales for goods exported from Ireland went up 9.2% compared to $196.2 billion.
Geographically the Republic of Ireland is the second-largest island of the British Isles, the third-largest island in Europe and the twentieth-largest island in the world.
The top 5 customers buying Ireland’s exports in 2021 were the United States of America, Germany, United Kingdom, Belgium and the Netherlands. Collectively, that quintet of major customers buying Irish exports accounted for over two-thirds (68%) of Ireland’s total shipments in 2022 by value.
Applying a continental lens, more than half (52.4%) of Ireland’s exports by value was delivered to fellow European countries while 32.4% was sold to North American importers. Ireland shipped another 12.7% worth of goods to Asia.
Smaller percentages went to Oceania (1%) led by Australia and New Zealand, Africa (0.97%) then Latin America (0.5%) excluding Mexico but including the Caribbean.
Ireland’s Top Trading Partners
Below is a list showcasing 25 of Ireland’s top trading partners in terms of Irish export sales. That is, countries that imported the most Irish shipments by dollar value during 2022. Also shown is each import country’s percentage of total Irish exports.
- United States: US$62.7 billion (29.3% of Ireland’s total exports)
- Germany: $26.5 billion (12.4%)
- United Kingdom: $23.1 billion (10.8%)
- Belgium: $18.4 billion (8.6%)
- Netherlands: $14.8 billion (6.9%)
- China: $13.7 billion (6.4%)
- France: $7.5 billion (3.5%)
- Italy: $4.7 billion (2.2%)
- Japan: $4.2 billion (1.9%)
- Canada: $3.5 billion (1.6%)
- Switzerland: $3.4 billion (1.6%)
- Spain: $2.8 billion (1.3%)
- Mexico: $2.6 billion (1.2%)
- Australia: $1.64 billion (0.8%)
- Poland: $1.56 billion (0.7%)
- Czech Republic: $1.54 billion (0.7%)
- Sweden: $1.09 billion (0.5%)
- Israel: $1.08 billion (0.5%)
- South Korea: $947 million (0.4%)
- Türkiye: $842.7 million (0.4%)
- Malaysia: $771.4 million (0.4%)
- Singapore: $752.1 million (0.4%)
- Hong Kong: $701.9 million (0.3%)
- India: $635.8 million (0.3%)
- Saudi Arabia: $625 million (0.3%)
Over nine-tenths (93.5%) of Irish exports in 2022 were delivered to the above 25 trade partners.
The fastest grower among Ireland’s top importers was Malaysia via its 182.8% upturn. Other leading percentage gains belong to buyers in Canada (up 122.2%), Czech Republic (up 101.9%), Australia (up 65.8%), and the Netherlands (up 33.4%).
There were 5 year-over-year decliners buying products from Ireland. Reductions belong to Hong Kong (down -25.4%), Saudi Arabia (down -22.7%), Italy (down -8.3%), Poland (down -5.7%), and Türkiye (down -0.7%).
Countries Causing Biggest Trade Deficits for Ireland
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
In 2022, Ireland incurred the highest trade deficits with the following countries.
- United Kingdom: -US$7.7 billion (country-specific trade deficit in 2022
- France: -$5.5 billion
- Israel: -$4 billion
- Switzerland: -$3.1 billion
- Taiwan: -$619.3 million
- Vietnam: -$463.9 million
- South Korea: -$437.4 million
- Azerbaijan: -$413.1 million
- Türkiye: -$378.6 million
- Argentina: -$332.7 million
Among Ireland’s trading partners that cause the greatest negative trade balances, Irish deficits with the United Kingdom (up 394.6%), Israel (up 108.6%) and Argentina (up 21.3%) grew at the fastest pace from 2021 to 2022.
In addition, Ireland transitioned from an $11.2 million surplus trading with Azerbaijan in 2021 to recording the deficit listed above for 2022.
These cashflow deficiencies clearly indicate Ireland’s competitive disadvantages with the above countries, but also represent key opportunities for Ireland to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Greatest Trade Surpluses for Ireland
Ireland posted an overall $68.1 billion trade surplus during 2022, down by -7% from $73.2 billion in black ink one year earlier in 2021.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2022, Ireland incurred the highest trade surpluses with the following countries.
- United States: US$41.3 billion (country-specific trade surplus in 2022)
- Belgium: $14.4 billion
- Germany: $14.3 billion
- Netherlands: $7.2 billion
- Canada: $2.8 billion
- Italy: $2.3 billion
- Mexico: $2.1 billion
- Australia: $1.5 billion
- Japan: $1.3 billion
- mainland China: $815.6 million
Among Ireland’s trading partners that generate the greatest positive trade balances, Irish surpluses with Canada (up 260.4%), Australia (up 77.9%) and the Netherlands (up 23.7%) grew at the fastest pace from 2021 to 2022.
These positive cashflow streams clearly indicate Ireland’s competitive advantages with the above countries, but also represent key opportunities for Ireland to develop country-specific strategies to optimize its overall position in international trade.
Major Irish Companies Servicing International Trade Partners
Ireland placed 19 companies on the Forbes Global 2000 rankings. Below is a sample of the major Irish companies that Forbes included.
- Accenture (computer services)
- Actavis (pharmaceuticals)
- Covidien (medical equipment, supplies)
- CRH (construction materials)
- Ingersoll-Rand (conglomerates)
- Kerry Group (food processing)
- Perrigo (pharmaceuticals)
- Seagate Technology (computer storage devices)
- Shire (pharmaceuticals)
- Smurfit Kappa Group (paper products)
According to global trade intelligence firm Zepol, the following companies are examples of entrepreneurial Irish exporters.
- Armstrong Medical (mercury, inorganic bases, calcium)
- Bolger Engineering (iron/non-alloy steel products, electric motor parts, generators)
- Carlow Brewing (malt beer, acyclic polyhydric alcohols)
- Tratech Ireland (machine tool parts and accessories)
See also Ireland’s Top 10 Imports, Ireland’s Top 10 Major Export Companies and Ireland’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on April 14, 2023
Forbes 2018 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 14, 2023
International Trade Centre, Trade Map. Accessed on April 14, 2023
Investopedia, Net Importer Definition. Accessed on April 14, 2023
Zepol’scompany summary highlights by country. Accessed on April 14, 2023
