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Charting some of the changes in Ireland’s economic and social history to mark 50 years of Ireland in the EU.
Between 1973 and 2022 the value of goods exported rose from €1.1 billion to €208.6 billion.
In 1973 Ireland imported more merchandise than it exported. The value of imports rose from €1.4 billion in 1973 to €141 billion in 2022. Imports exceeded €100 billion for the first time in 2021 to €103.8 billion. The year 2022 represented the highest level of exports and imports on record.
The Trade in Goods balance (exports minus imports) changed from a deficit of €340 million in 1973 to a surplus of €67.6 billion in 2022.
In 1973, Food & Live Animals comprised 41% of Ireland’s total exports and were valued at €447 million. In 2022, Food & Live Animals made up of 7.1% of Ireland’s total exports which were valued at €14.8 billion.
Exports of Chemical products accounted for just 7% of exports in 1973and were valued at €74 million with Medicinal & Pharmaceutical Products making up 2.6% of this. In 2022 Chemicals & Related Products accounted for 64% of total exports and were valued at €134 billion, with Medicinal & Pharmaceutical Products making up 38.4% of our total exports.
Exports of Machinery & Transport Equipment grew from 10% of total exports in 1973 valued at €109 million to 14% in 2002 with a value of €28 billion in 2022.
Imports of Machinery & Transport Equipment rose from 27% of total imports in 1973 to 37.2% in 2022 but the value rose from €390 million to €52.4 billion. Imports of Food & Live Animals has remained constantly at around 10% of total imports, though in 2022 this fell to 6.8%. However, it has grown in value from €151 million in 1973 to a high of €9.6 billion in 2022.
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