Trading Partner Portal: Ireland
Overview
Trade Overview
Ireland is a trade-dependent economy and one of the first twelve EU nations to begin circulating the euro in 2002. The nation has become an important European hub for key sectors such as biotech, technology, med-tech, and financial services. Ireland has a GDP of $545.63 billion and a population of 5.26 million as of 2023.
Ireland is home to a burgeoning business community which includes the software, pharma, finance, and medical technology industries. One out of every two hospital ventilators in the world are created in Ireland. Along with one in three of contact lenses and one in four products for diabetes patients around the world.
U.S. – Irish Trade
Economic and trade ties are an important facet of overall U.S.-Irish relations. Two-way trade between the United States and Ireland totaled approximately $99.12 billion in 2023. In 2023, the U.S. exported over $16.95 billion in goods to Ireland, a number that has generally increased over the previous years. Top exported products included chemicals ($5.53 billion), transportation equipment ($2.51 billion), computer and electronic products ($2.32 billion), non-electrical machinery ($1.39 billion), and miscellaneous manufactured commodities ($1.26 billion).
The U.S. imported $82.29 billion from Ireland in 2023, an slight decrease from 2022, with chemicals making up $60.67 billion of the total. This was followed by miscellaneous manufactures ($6.85 billion), goods returned ($6.84 billion), computer and electronic products ($4.34 billion), and processed foods ($895 million). U.S. Department of Commerce
Irish – California Trade Relations
According to the Irish Consul General in San Francisco (July 2024), Irish companies employ approximately 98,000 Americans in the U.S., and of those about ten percent or over 25,000 jobs are in California. Approximately 900 Irish companies now are established in the U.S., primarily in California, and CA-Irish ties run deep, with ten percent of the Bay Area identifying as Irish Americans. Irish Consulate General
There are approximately 2.2 million Californians of Irish descent (Consulate General of Ireland in San Francisco, September 2022).
In 2023, California exported over $1.78 billion to Ireland, providing 10.5% of total U.S. exports to Ireland, and making California one of the top exporting states to Ireland. Top exported products in 2023 included chemicals, which made up almost $935 million of the total, and computer and electronic products, which made up almost $345 million of the total. Non-electrical machinery ($176 million), processed foods ($66 million), and plastics and rubber products ($53 million) were other top exports.
Imports to California from Ireland in 2023 totaled $2.36 billion and were made up of $1.03 billion in reimports. This was followed by computer and electronic products ($558 million), miscellaneous manufactures ($387 million), chemicals ($165 million), and processed foods ($107 million). U.S. Department of Commerce
Foreign Direct Investment
Ireland is the 6th fastest-growing source of FDI in the U.S. In 2023, U.S. direct investment into Ireland reached $491.2 billion, while Ireland invested $322.6 billion into the U.S. The U.S. is the largest export destination for Irish goods, and provides the second largest source of Irish imports, after the UK. There are over 900 Irish companies at over 2,269 locations in all 50 states across the U.S., providing around 535,500 jobs since 2021. $4.9 billion of Irish FDI went to research and development and another $11.2 billion went to expanding U.S. exports. The top industry sectors for Irish FDI were software and IT services, business services, industrial equipment, pharmaceuticals, healthcare, and communications. Select USA, Consulate General of Ireland
In California, the seventh largest source of FDI through foreign-owned enterprises (FOEs) is Ireland. In 2023, Irish FOEs in California provided over 32,751 jobs through 526 firms amounting to $3.66 billion in wages. The top jobs by sector are manufacturing, professional/business services, wholesale trade, financial activities, and information. (World Trade Center Los Angeles FDI Report).
Cultural
California Legislative Irish Caucus
The newly formed California Legislative Irish Caucus is a bi-partisan group of state legislators of Irish ancestry. The Caucus is a 501c7 organization intended to strengthen the important economic and cultural ties between California and Ireland.
Currently, there are more than 36,000 Irish nationals employed by California based corporations with household names such as Hewlett Packard, Apple, Intel, Google, Facebook, LinkedIn, PayPal, Allergan and Gilead. In addition, there are over 50 California-based companies with Irish founders.
U.S. companies have been investing heavily in Ireland since the 1970’s after its entry into the European Union, when it established itself as a new market. Its close proximity to the continent, with an English speaking and educated workforce, along with new government incentives made it attractive for foreign investment. In fact, there are now at least 190 West Coast companies with facilities throughout Ireland. Ireland has become an important European hub for key sectors such as biotech, technology, med-tech, and financial services.
Useful links
Presidential Proclamation — Irish-American Heritage Month, 2016
White House, February 29, 2016
U.S. Relations with Ireland
State Department
Events
Events
New Irish Consul General Meets with CalChamber
(September 22, 2022) CalChamber representatives met with Consul General of Ireland in San Francisco Micheál Smith during his first trip to Sacramento after beginning his post in August 2022. The group discussed the importance of Irish-California relations and agreed to continue their ongoing working relationship.
In 2021, California was a top exporting state to Ireland, providing 16.4% of total U.S. exports to the country. Two-way trade between the United States and Ireland totaled $87.2 billion in 2021. Ireland is the fourth fastest-growing source of foreign direct investment (FDI) in the U.S. with investment totaling $353 billion in 2021. Ireland was the seventh largest source of FDI in California in the same year, providing more than 30,000 jobs in the state. There are approximately 2.2 million Californians of Irish descent.
Innovation Drives Ireland-California Collaborations in Many Fields
(March 11, 2022) Ireland’s relationship with the United States and especially California is driven by innovation, Consul General Marcella Smyth told a California Chamber of Commerce audience last week.
Speaking at a breakfast gathering hosted by the CalChamber Council for International Trade on March 11 in Half Moon Bay, Smyth, the Consul General of Ireland in Los Angeles, cited the numerous partnerships between Irish and U.S./California entities.
Multitude of Irish-U.S./California Trade, Investment Ties in Spotlight
(March 19, 2019) The strong trade and investment links between Ireland and the United States, as well as California, were celebrated last week at a California Chamber of Commerce breakfast held in conjunction with CalChamber Board events.
The CalChamber Council for International Trade meeting, sponsored by Frontier Communications, was one of several gatherings in the week leading up to St. Patrick’s Day featuring the release of the US-Ireland Business 2019 report by the American Chamber of Commerce (AmCham) Ireland.
Speaking at the March 15 breakfast were the Honorable Simon Harris, Irish minister for health and former minister of state; Carin Bryans, vice president of AmCham Ireland and managing director of JP Morgan Ireland; and Robert O’Driscoll, consul general of Ireland to the Pacific Northwest.
The three highlighted Ireland as a transatlantic hub and gateway to the European Union.
On the Occasion of St. Patrick’s Day
U.S. Department of State, March 17, 2019
Remarks by President Trump at the Friends of Ireland Luncheon
White House, March 14, 2019
Remarks by President Trump and Prime Minister Varadkar of Ireland Before Bilateral Meeting
White House, March 14, 2019
Irish Ambassador Salutes 2016 CalChamber Chair Mike Murphy
CalChamber International Forum on the Transatlantic Trade and Investment Partnership
On May 27, 2015, the California Chamber of Commerce held an International Forum on the Transatlantic Trade and Investment Partnership and the Transpacific Partnership with speakers including members of the United States Chamber of Commerce, representatives from five American Chambers of Commerce from abroad, and two ambassadors. Also in attendance was a delegation totaling 25 members of the AmCham community representing Bulgaria, Croatia, Denmark, Estonia, France, Greece, Ireland, Israel, Kosovo, Latvia, Lithuania, Macedonia, Norway, Poland, Romania, Serbia, Slovak Republic, Slovenia, and Turkey.
CalChamber International Luncheon Highlights U.S./California-Irish Trade
(March 16, 2016) Economic and trade ties are an important facet of overall U.S./California-Irish relations explained the Honorable Alan Kelly T.D., Irish Minister for the environment, community and local government, during an International luncheon yesterday at the California Chamber of Commerce.
In addition to celebrating St. Patrick ’s Day one day early, the luncheon with over 100 attendees also honored March as Irish-American Heritage Month, which was recently declared by U.S. President Barack Obama.
Luncheon guests also heard from Assemblymember William P. Brough (R-Dana Point) who chairs the California Legislative Irish Caucus, which now boasts the membership of 25% of the Legislature. The caucus will take part in a trip to Ireland in July. Assemblymember Brough promised that upon their return, participants will be “fully committed to new, stronger and even more meaningful ties.”
Key Country Contacts
Resources
CalChamber Resources
Business
Business
- U.S.-Ireland Business 2019 from AmCham Ireland
- U.S. Commercial Service in Ireland
- Doing Business in Ireland
- IDA Ireland
- Irish Network Bay Area
- Ireland Chamber of Commerce – USA
- Ireland – US Council
- Connect Ireland
