Decoding Ireland-China Trade: Unpacking 2024's Billion-Dollar Exchange
A detailed look at the import/export values and key goods defining the economic relationship between Ireland and China in 2024.
Highlights: Ireland-China Trade Dynamics in 2024
- Exports Reached New Heights: Ireland exported goods worth US$10.26 billion to China in 2024, contributing to a record year for overall Irish exports.
- Significant Imports from China: Ireland imported goods valued at US$12.75 billion from China, making China a major source of imported products.
- Key Sectors Driving Trade: Pharmaceuticals, high-tech goods (like integrated circuits), chemicals, and food products were prominent Irish exports, while electronics, machinery, and organic chemicals topped the list of imports from China.
Ireland-China Trade Values: The 2024 Figures
Quantifying the Flow of Goods
The year 2024 marked significant trade activity between Ireland and the People's Republic of China. Understanding the monetary value of this exchange provides crucial insight into the economic ties between the two nations.
Ireland's Exports to China
In 2024, Ireland's total exports of goods to China amounted to US$10.26 billion. This figure underscores China's importance as a key market for Irish products. This performance was part of a broader trend for Ireland, which saw its total global goods exports reach a record level of €224 billion (approximately US$240 billion at typical 2024 exchange rates), an increase of €28 billion compared to 2023. While substantial, exports to China represent a specific segment within this larger global trade picture.
Irish exporters increasingly target the lucrative Chinese market, particularly in sectors like food and beverages.
Ireland's Imports from China
Conversely, Ireland imported goods from China valued at US$12.75 billion in 2024. This highlights China's role as a critical supplier to the Irish market, providing a wide array of products. At the European Union level, China stood as the largest partner for EU imports of goods in 2024, accounting for 21.3% of the total, indicating the widespread reliance on Chinese manufacturing across the bloc, including Ireland.
The Trade Balance
Based on these figures, Ireland experienced a trade deficit with China in 2024. With imports ($12.75 billion) exceeding exports ($10.26 billion), the deficit amounted to approximately US$2.49 billion. This imbalance reflects the strong demand in Ireland for goods manufactured in China relative to Chinese demand for Irish goods during this period.
Key Categories of Goods Exchanged
What Products Define Ireland-China Trade?
The multi-billion dollar trade relationship is built upon the exchange of specific types of goods, reflecting the industrial strengths and market demands of both countries.
Top Irish Exports to China
Ireland's exports to China in 2024 were concentrated in several high-value sectors:
- Pharmaceuticals and Medical Equipment: This sector is a cornerstone of Irish exports globally and significantly contributes to trade with China. Ireland's expertise in life sciences drives substantial exports of medicines and medical devices. In 2024, Ireland's overall exports of medical and pharmaceutical products surged by 29% to nearly €100 billion globally.
- High-Technology Goods: Notably, processors and controllers (integrated circuits) were among the top 10 Irish exports to China by value. This reflects Ireland's role as a European hub for technology and semiconductor manufacturing.
- Chemicals: Organic chemicals and other chemical products form another significant export category, often linked to the pharmaceutical and manufacturing industries.
- Food and Agricultural Products: Ireland has a strong reputation for quality food production. Exports to China in 2024 included substantial amounts of dairy products (milk, cheese, etc.), which accounted for approximately 67% of the €700 million total food and drink exports to China. Shellfish exports also saw a notable rebound, increasing significantly in the first half of the year.
- Computer Services: While physical goods dominate trade value statistics, Ireland also exports significant computer and related services, leveraging its position as a base for multinational tech companies.
Shipping routes connect major Chinese ports with Ireland, facilitating the movement of goods.
Top Irish Imports from China
Ireland imports a diverse range of products from China. Based on 2024 data, the leading categories by value include:
| Import Category | Approximate Value (2024, US$) |
|---|---|
| Electrical and Electronic Equipment | $2.78 billion |
| Organic Chemicals | $2.29 billion |
| Machinery, Nuclear Reactors, Boilers | $2.26 billion |
| Furniture, Lighting Signs, Prefabricated Buildings | $512.13 million |
| Toys, Games, Sports Requisites | $435.92 million |
| Articles of Apparel (Knit or Crocheted) | $417.92 million |
| Plastics and Articles Thereof | $343.76 million |
| Articles of Apparel (Not Knit or Crocheted) | $334.00 million |
| Vehicles Other Than Railway, Tramway | $327.87 million |
| Aircraft, Spacecraft, and Parts Thereof | $320.58 million |
This table details the major categories of goods imported by Ireland from China in 2024, showcasing the variety of products sourced from the Chinese market, dominated by electronics, machinery, and chemicals.
Visualizing the Trade Landscape
Mapping and Charting the Key Components
Mindmap of Ireland-China Trade (2024)
This mindmap provides a visual overview of the key elements defining the trade relationship between Ireland and China in 2024, including the main financial figures and the dominant categories of goods exchanged.
US$10.26 Billion"] E1["Pharmaceuticals & Medical"] E2["High-Tech Goods
(Incl. Integrated Circuits)"] E3["Chemicals"] E4["Food & Agriculture
(Dairy, Shellfish)"] E5["Computer Services"] Imports["Imports from China
US$12.75 Billion"] I1["Electrical & Electronic Equipment
($2.78B)"] I2["Organic Chemicals
($2.29B)"] I3["Machinery & Boilers
($2.26B)"] I4["Furniture & Lighting
($512M)"] I5["Toys & Games
($436M)"] I6["Apparel
(>$750M total)"] I7["Other Goods
(Plastics, Vehicles, etc.)"] Balance["Trade Balance
Deficit for Ireland
(Approx. US$2.49 Billion)"] Context["Broader Context"] C1["Record Overall Irish Exports
(€224 Billion)"] C2["China: Major EU Trade Partner"] C3["Market Diversification Efforts"]
Relative Importance of Trade Categories
The following radar chart offers an estimated comparison of the relative importance of various goods categories within the specific Ireland-China trade corridor versus their importance in Ireland's overall global trade. The scale (ranging notionally from 3 to 10) reflects perceived strategic or economic significance, not precise dollar values. A higher score indicates greater relative importance within that specific trade context.
This chart suggests that while pharmaceuticals, chemicals, and high-tech goods are vital in both contexts, specific categories like consumer electronics and machinery might represent a larger share of imports *from China* compared to their share in Ireland's *overall* import profile. Conversely, pharmaceuticals likely hold even greater weight in Ireland's global exports than specifically in its exports to China. Food exports, while significant to China, might represent a smaller portion of Ireland's total global food exports.
Broader Context and Strategic Considerations
Navigating the Global Trade Landscape
The Ireland-China trade relationship doesn't exist in isolation. It's influenced by global economic trends, EU trade policies, and Ireland's own strategic economic planning.
- Record Irish Performance: As mentioned, 2024 was a banner year for Irish exports overall (€224 billion), driven significantly by the pharmaceutical sector. The trade with China forms an important part of this success.
- EU-China Dynamics: China's role as the EU's largest source of imports (21.3%) and third-largest export market (8.3%) provides a framework for Ireland's bilateral trade. EU-level policies and agreements impact this relationship.
- Market Diversification: In response to global uncertainties, including potential trade tensions and tariffs (such as potential US tariffs discussed in early 2025), Ireland is actively exploring diversification strategies. This includes strengthening ties with other markets in Asia and pursuing faster ratification of trade deals like the Comprehensive Economic and Trade Agreement (CETA) with Canada.
- Sectoral Importance: Key sectors like pharmaceuticals and semiconductors are not just important for bilateral trade with China but are also central to broader trade negotiations, including those between the EU and the US.
Diplomacy and Trade Relations
High-level diplomatic visits and trade missions play a role in fostering the economic relationship. The video below shows the arrival of China's Foreign Minister Wang Yi in Dublin in early 2025 for talks focused on trade and cultural links, highlighting the ongoing engagement between the two nations.
This visit underscores the diplomatic efforts underpinning the trade relationship, aiming to strengthen ties and potentially address trade imbalances or explore new avenues for cooperation.
Frequently Asked Questions (FAQ)
What was the total value of Ireland's exports to China in 2024?
What was the total value of Ireland's imports from China in 2024?
Did Ireland have a trade surplus or deficit with China in 2024?
What were the main categories of goods Ireland exported to China in 2024?
What were the main categories of goods Ireland imported from China in 2024?
References
- Ireland Exports to China - 2025 Data 2026 Forecast 1992-2024 - Trading Economics
- Ireland Imports from China - 2025 Data 2026 Forecast 1992-2024 - Trading Economics
- Goods Exports and Imports December 2024 - CSO Ireland
- Ireland’s Trade Exchanges with China 2013-2023 - Ireland China Business Association
- China-EU - international trade in goods statistics - Eurostat
- Irish Trade Counsellor: Hainan Free Trade Port and CICPE - GMW.cn
- China, Ireland pledge closer ties - China Daily HK
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Last updated April 15, 2025