The Republic exported €47 billion of items, practically just one-third of whole exports, to the US in 2019, generating it our major single export sector, according to a new report from the Central Studies Business (CSO).
The State’s most important trading surplus was also with the US. The value of exports was around a few periods the value of imports, offering a buying and selling surplus of practically €33 billion.
Medical and pharmaceutical products and natural and organic substances comprised €32 billion or 68 for each cent of the overall exports to the US in 2019.
CSO statistician Ciarán Counihan explained the Point out exported a complete of €152 billion of goods and imported €91 billion during the 12 months.
“More than €57 billion of our exports went to EU international locations, and a further more €15 billion was exported to the Uk,” he said.
The proportion of our trade with the Uk has fallen from 28 for each cent of complete exports in 1994 to 10 for each cent in 2019, and from 37 for every cent of full imports in 1994 to 22 for each cent in 2019.
We exported almost €4 billion of food and drinks to the United kingdom in 2019 and imported €4.3 billion.
The Condition relished a trade surplus of €13.9 billion with Belgium, and a surplus of more than €6 billion with Germany.
The major trade deficit in 2019 was with France, with €5.4 billion of exports and €12.3 billion of imports recorded, giving a trading deficit of pretty much €7 billion. The deficit was mainly due to imports of aircraft.
There had been €79 billion of products exported to Europe in 2019, and just about half of this was to Belgium, Germany and the Netherlands combined, even though the British isles accounted for a even more €15.7 billion.
Asia accounted for €17.4 billion of our exports in 2019, with €8.2 billion exported to China.
Above €5.7 billion of equipment and transportation products was exported to China, which represents a few-quarters of the whole exports of these solutions to Asia.
Export associates
There were being exports of €2.8 billion to Japan, which includes €1.5 billion of chemical compounds and associated goods. Hong Kong, Turkey and Saudi Arabia have been the subsequent major export associates in 2019.
In general the Point out exported €49.5 billion of healthcare and pharma products, which represented 32 for every cent of overall exports. There have been €30 billion of exports of organic chemicals.
Nearly €57 billion of goods have been imported from Europe, of which far more than €20 billion arrived from the United kingdom, our greatest import companion.
Additional than €1.2 billion of Ireland’s imports of outfits and attire came from Asia in 2019, comprising in excess of 60 for each cent of total imports of these merchandise.
Some €21 billion of imports of aircraft ended up recorded in 2019, which was 24 per cent of the complete worth of imports. This end result was partly due to the actions of aircraft leasing companies found in the Republic.
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