Dáil Éireann Debate, Thursday - 12 October 2023
103. Deputy Bernard J. Durkan asked the Minister for Enterprise, Trade and Employment the extent to which Ireland’s trade within the EU and with third countries continues to prosper; and if he will make a statement on the matter. [44573/23]
View answer104. Deputy Bernard J. Durkan asked the Minister for Enterprise, Trade and Employment the extent to which the market for Irish exports continues to develop in a sustainable fashion; and if he will make a statement on the matter. [44574/23]
View answerI propose to take Questions Nos. 103 and 104 together.
Ireland’s markets for exports of goods and services continue to develop in a positive and sustainable manner despite challenges in the trading environment due to Brexit, the global pandemic and the war in Ukraine.
According to the latest Goods Exports and Imports release from the CSO, the value of goods exports from Ireland in 2022 rose to €208bn, the highest level on record. In 2022, the value of goods exports increased by more than €42bn (+26%) when compared to 2021. The largest increase was in exports of Medical and Pharmaceutical Products which increased by €17bn to €80bn (+28%) and in Organic Chemicals which increased by €11bn to €37bn (+42%).
Ireland’s total services exports increased from €254.8bn in 2020 to €293.6bn in 2021 (latest figures available). The increase in services exports was principally due to increased computer services exports (+€35.4bn).
Trade with the EU and third countries continues to show positive and sustainable growth. The US continues to be Ireland’s biggest single goods export market, accounting for €63bn or 30% of total goods exports in 2022, which is an increase of €10.5bn (+20%) on 2021. The EU accounted for €80.6bn (39%) of total goods exports in 2022, an increase of €18.9bn (+31%) on 2021.
Services exports to the EU were valued at €93.5bn in 2021, an increase of €17.2bn on 2020. Services exports to the US were worth €41.1bn in the same period, an increase of €7.9bn on 2020.
Trade in goods with the United Kingdom reached a record value of €51.5bn in 2022. Goods exports to the UK increased by 22% from 2021 to reach a value of €22.1bn, while goods imports from the UK increased by 51% compared to 2021, reaching a value of €29.4bn.
Trade in goods with Northern Ireland also reached a record value of €10.3bn in 2022. Goods exports to Northern Ireland increased by 31% from the previous year to reach a value of €4.9bn, and goods imports from Northern Ireland increased by 32% compared to 2021, to reach a value of €5.4bn.
Ireland’s services trade with the UK has also grown substantially, from a value of €25bn in 2011 to €64bn in 2021 (a 153% increase) and we now have a significant services trade surplus with the UK. In 2021, services exports from Ireland to the UK were worth over €40bn, making the UK Ireland’s second largest services export market in 2021 (accounting for 14% of total services exports that year).
In 2021, services imports from the UK were worth almost €24bn which makes the UK Ireland’s second largest source of services imports (after the US), accounting for 8% of services imports in 2021.
