Importing and Exporting in Ireland
Importing and Exporting in IrelandUpdated on Tuesday 15th March 2016
Rate this article
based on 2 reviews.
based on 2 reviews.
Ireland is one of the most developed economies in the European Union; at the beginning of 2016, Ireland experienced a significant economic increase, which was reported in many local industries. Foreign investors interested in the business market available in Ireland are advised to invest here, as the local economic and legal system are very solid and reliable; persons interested in the importing and exporting activities in Ireland can receive more details on the matter from our Irish solicitors, who can provide information on the most traded products on the Irish market.
Export activity in Ireland
At the level of 2015, Irish exports accounted for $120.2 billion, which marked a 1.6% increase compared to the level of 2014. Information provided by the International Monetary Fund stipulates that in 2015 the level of Gross Domestic Product (GDP) created in Ireland was set up at $250.3 billion. In this sense, the export activity represented 48% of the total GDP; our Irish lawyers can provide more information on the local GDP.
Foreign investors who want to establish a trading company in Ireland should know that in 2015 the main exported products were the following:
• pharmaceuticals ($31.7 billion);
• organic chemicals ($25.5 billion);
• medical and technical equipment ($12.6 billion);
• perfumes and cosmetics ($8.8 billion);
• machines and engines ($7.7 billion);
• electronic equipment ($ 5 billion);
• chemical products ($3.2 billion);
• meat ($3 billion);
• aircrafts and spacecraft ($2.5 billion);
• cereals and milk ($2.4 billion).
Import activity in Ireland
In 2015, Ireland imported goods and products accounting for $70.7 billion. Top Irish imports were represented by the following products:
• machinery ($9.1 billion);
• aircraft and spacecraft ($6.8 billion);
• oil ($5.7 billion);
• pharmaceuticals ($5.5 billion);
• electronic equipment ($4.8 billion).
The most representative trading partners for Ireland in terms of imports are: United Kingdom, United States of America, Germany, France, the Netherlands, China and Belgium.
If you need further details on the importing and exporting activities in Ireland, please contact our team of Irish solicitors, who can offer you assistance on this matter.