• Analysis and Studies
• Ireland (1)

Ireland is an island located in the North Atlantic Ocean, in north-western Europe. It’s separated from Great Britain to its east by the North Channel, the Irish Sea and St George’s Channel.

It’s the second largest island of the British Isles, the third largest in Europe.

Ireland is made up by mountains adjoining a central plain, with rivers unroll inland. The climate is influenced by the Atlantic Ocean and thus very moderate, although summers are cooler than those in continental Europe.

Overview and GDP

The Gross Domestic Product of the Republic of Ireland in the year 2021 was €423.5 billion, and in Northern Ireland in the same year, it was £52 billion.

Despite, the GDP per capita in the Republic of Ireland was €84,049.9 as of 2021, and in Northern Ireland 2021 was £27,154.

 The Republic of Ireland and the United Kingdom amount these numbers differently.

Despite the two legal powers using two distinct currencies (the euro and pound sterling), a mushrooming amount of commercial activity is carried out on an all-Ireland basis. This has been paved the way for the two jurisdictions' former shared membership of the European Union, and there have been calls from members of the business community and policymakers for the creation of an "all-Ireland economy" to take advantage of economies of scale and boost competitiveness.

In 2021, Ireland was the number 25 economy in the world in terms of GDP (current US$), the number 30 in total exports, the number 36 in total imports, the number 5 economy in terms of GDP per capita (current US$) and finally the number 17 most complex economy according to the Economic Complexity Index (ECI) .

In 2021, Ireland was as big as a whale exporter of Nitrogen Heterocyclic Compounds ($22.4B), Scented Mixtures ($9.37B), Nucleic Acids ($5.99B), Hormones ($5.99B), and Sulfonamides ($3.42B).

Concerned with latest trends…

In August 2023 Ireland exported €16.1B and imported €9.79B, aftereffects in a positive trade balance of €6.26B. Between August 2022 and August 2023 the exports of Ireland have step down by €-3.44B (-17.7%), while imports dropped-off by €-2.7B (-21.6%).

In August 2023, Ireland exported more often than not to United States (€5.06B), Belgium (€1.89B), United Kingdom (€1.72B), Netherlands (€1.32B), and Germany (€1.22B), and imported mostly from United Kingdom (€2.31B), United States (€1.38B), France (€900M), China (€877M), and Unclassified (€760M).

In August 2023, the peak exports of Ireland were Medicinal and pharmaceutical products (€6.88B), Organic chemicals (€1.68B), Essential oils, perfume materials, toilet preparations... (€793M).

In August 2023 the leader imports of Ireland were Organic chemicals (€1.17B), Medicinal and pharmaceutical products (€1.01B), Other transport equipment (€821M), Electrical machinery, appliances etc., n.e.s. (€684M), and Petroleum, petroleum products and related materials (€533M).

Nevertheless, In August 2023, the decrease in Ireland's year-by-year exports was illustrated mainly by an decrease in exports to Germany  (-62.6%), China (-40.3%), and Belgium ( -18.2%), and product exports decrease in Organic chemicals ( -66.5%), Electrical machinery, appliances etc., n.e.s. (-51.4%), and Essential oils, perfume materials, toilet preparations... (-12.1%).

Furthermore, In August 2023, the decrease in Ireland's year-by-year imports was given meaning principally by an decrease in imports from China ( -44.4%), United States ( -32.7%), and Unclassified ( -44.4%), and product imports decrease in Electrical machinery, appliances etc., n.e.s. (-48.6%), Organic chemicals (-35.1%), and Gas, natural and manufactured (-75%).

Fonti: 

 https://oec.world/en 

https://data.worldbank.org/

https://www.trademap.org/