Ireland's Top Imports & Exports 2008
Wine, Whiskey and Other Hard Liquors Are Top Irish Exports to US
Oct 9, 2009
Achieving a Gross Domestic Product (GDP) valued at US$273.33 billion, Ireland was the world’s 34th richest country in 2008.
With a population of 4.2 million Irish who enjoyed an average GDP of $46,200 per person last year, the Celtic Tiger (one of Ireland’s informal nicknames) was also the 11th wealthiest nation in terms of GDP per capita.
As the world’s 33rd biggest exporter, Ireland shipped $119.6 billion worth of exports in 2008. Principal Irish exports were machinery, computers, chemicals, pharmaceuticals and animal products. Based on 2008 statistics, Ireland’s largest export clients were the United Kingdom (18.6%), the United States (18.3%), Belgium (14.7%), Germany (7%), France (5.9%) and Spain (4.2%).
According to the CIA World Factbook, Ireland imported $80.9 billion worth of foreign goods last year. Major commodities imported into Ireland include data processing equipment, machinery, chemicals, petroleum, textiles and clothing. Leading suppliers to Ireland were the United Kingdom (37.9%), the United States (11.6%), Germany (8.8%) and Netherlands (5.6%).
In total, Ireland’s international trade amounted to $200.5 billion or 73.4% in relation to its overall GDP. This compares with roughly 25% for the U.S. and 60% for Canada.
Irish Trade with the U.S.
Last year, Irish exports to America rose 3% to $31.3 billion. Over that same period, Ireland bought $7.6 billion worth of U.S. imports – a decrease of 2.1%.
Therefore, Ireland’s robust trade surplus with the U.S. came to $23.7 billion in 2008.
The lists below present the top 10 exports and imports that American and Irish enterprises exchanged in 2008. The fastest-growing trade product categories are also shown.
Ireland’s Top Exports to America
The top 4 product categories below accounted for 82.5% of Irish shipment to the U.S. in 2008. In total, the following top 10 Irish exports generated 91.1% of shipments from the Emerald Isle to America.
- Medicinal, dental and pharmaceutical preparations … US$18.9 billion, up 1% from 2007 (60.2% of US imports from Ireland)
- Other household goods including clocks … $3.6 billion, up 33.8% (11.5%)
- Soft beverages and processed coffee … $2 billion, up 4% (6.4%)
- Other scientific, medical and hospital equipment … $1.4 billion, up 34.4% (4.4%)
- Computers … $655.1 million, up 25.7% (2.1%)
- Industrial organic chemicals … $651.4 million, down 50.9% (2.1%)
- Semiconductors … $512.6 million, up 3% (1.6%)
- Computer accessories and parts … $383 million, down 34.2% (1.2%)
- Alcoholic beverages excluding wine … $308.4 million, down 0.4% (1%)
- Wine and related products … $174 million, up 17.3% (0.6%).
Fastest-Growing Irish Exports to the U.S.
The 10 fastest-growing Irish exports to America include 2 of Ireland’s largest exported product categories: other scientific, medical and hospital equipment and other household goods.
- Other petroleum products … US$78.2 million, up 422.9% from 2007
- Textile, sewing and leather working machinery … $2.7 million, up 187.8%
- Pulp and paper machinery … $10.9 million, up 114.9%
- Other tobacco, waxes and non-food oils … $93.9 million, up 71%
- Other non-chemical materials … $2.9 million, up 66.8%
- Non-advanced iron and steel products … $3 million, up 62.8%
- Engines and engine parts … $4.6 million, up 51.2%
- Other scientific, medical and hospital equipment … $1.4 billion, up 34.4%
- Finished textile industrial supplies … $6.3 million, up 34.2%
- Other household goods including clocks … $3.6 billion, up 33.8%.
Ireland’s Top Imports from America
American exports to Ireland are relatively concentrated. The following top 10 product categories generated 67.2% of total Irish imports from the U.S.
- Civilian aircraft … US$1.4 billion, down 3.1% from 2007 (18.2% of US exports to Ireland)
- Pharmaceutical preparations … $892.6 million, down 2% (11.7%)
- Computer accessories … $768.1 million, down 10.5% (10.1%)
- Other household goods … $717 million, down 22.3% (9.4%)
- Medicinal equipment … $290.4 million, up 15.5% (3.8%)
- Organic chemicals … $232.3 million, up 48.5% (3.1%)
- Telecommunications equipment … $224.7 million, down 7.2% (3%)
- Semiconductors … $217.1 million, down 0.2% (2.9%)
- Computers … $196.2 million, up 40.5% (2.6%)
- Electric apparatus … $186.3 million, down 16.8% (2.4%).
Fastest-Growing Irish Imports from the U.S.
The following American exports were for relatively small amounts, but involved formidable percentage gains no less than 118.8%.
- Metallurgical grade coal … US$6.1 million, up from Nil in 2007
- Wheat… $9.1 million, up 21,448%
- Railway transportation equipment … $4.2 million, up 392.2%
- Artillery, guns, missiles and tanks… $3.5 million, up 358.6%
- Aluminum … $51.4 million, up 318.9%
- Iron and steel mill products … $42.5 million, up 207.6%
- Steelmaking materials … $5.1 million, up 202.3%
- Non-textile floor tiles … $1.1 million, up 143.6%
- Soybeans … $13 million, up 129.4%
- Military aircraft engines and turbines … $3.7 million, up 118.8%.
Comparative Trade Advantages
During 2008, Ireland exported $18.9 billion worth of medicinal, dental and pharmaceutical preparations to the U.S. while importing $892.6 million worth of these preparations from America.
These Irish-American trade statistics show that Ireland has comparative advantages over the U.S. in the trade of medicinal, dental and pharmaceutical preparations between the 2 nations.
On the other hand, America exported $1.4 billion worth of civilian aircraft to the Emerald Isle in 2008 contrasted with U.S. imports of Irish aircraft engines and parts worth $112 million.
That the U.S. exported more than 10 times the value of Irish civilian aircraft products clearly shows that America has a comparative advantage in exporting civilian aircraft products to Ireland.
Sources
This analysis is based on latest statistics from the US Census Bureau- Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
 |
 |
 |
 |
 |
