20 - Kuwait
A dream territory for Irish exports. The oil-rich state sends comparatively little to us - we only took in €458,000 of imports last year, down from €511,000 the year before. Exports boomed, however, from €63m to €101m - meaning Ireland is left €37m better off.
19 - Canada
It's a similar case when dealing with Canada - where exports rose from €570m to €628m, a €58m increase only slightly pared back by the growth in imports from €241m to €256m. The overall balance was €43m better off.
18 - Mexico
Irish exports to Mexico had a good year. We went from sending €466m of stuff in 2010 to €526m in 2011, a €60m gain only partially offset by a €16m rise in imports to leave a €44m increase.
17 - Romania
Although Romanian imports to Ireland grew - from €106m to €124m, exports to Bucharest and beyond rose from €252m to €337m. That's a €67m swing.
16 - Poland
It's a similar case when dealing with Poland. Imports fell from €320m to €286m, while exports grew from €592m to €639m. The result is an €80m swing in Ireland's favour.
15 - Finland
Finland is more of a textbook example - we cut imports from €189m to €122m, while simultaneously getting exports up from €290m to €314m. That's a €90m swing to Ireland.
14 - Sweden
A case in which a rising tide floats all boats. Imports from Sweden grew from €341m to €482m last year - but exports going the other direction went from €671m to a whopping €919m (that's the 14th highest to any country last year). The end result is that Ireland is €106m better off.
13 - Norway
Norway is one of the countries from which Ireland imports the most: last year we took in €1.16 billion of Norwegian products and services. That, however, was down from €1.29bn in 2010. Exports there fell too, but by just under €15m - meaning a net gain to Ireland of €111m.
12 - Hong Kong
There's a pattern about to emerge here. Imports from Hong Kong fell from €235m to €141m, while exports grew from €819m to €852m. All in all, a swing in Ireland's favour of €127m.
11 - United Arab Emirates
Again, an area from which imports collapsed: from €109m in 2010 to just €18m last year. Exports, meanwhile, went from €270m to €308. Net gain: €129m.
10 - Singapore
Another example of an improvement made by cutting imports: having taken in €508m of wares in 2010, we cut that to €393m last year while exports went from €549m to €589m. Net gain: €154m.
9 - Hungary
Having run a trade deficit of €40bn in 2010, we virtually halved our imports from Hungary last year while exports picked up by €63m. Net gain: €156m.
8 - Russia
If Hungary was good, Russia is better: imports from Russia fell by a quarter from the €160m of 2010, while imports grew from €372m to €509m. Net improvement: €176m.
7 - Libya
A slightly anomalous example, Ireland didn't really 'improve' its performance with Libya, so much as Libyan output fell dramatically. Having accepted €340m of imports from there in 2010, we only took €93m last year. The overall trade deficit was went from €301m to €88m - an improvement of €213m.
6 - Switzerland
Ireland's banking sector is the source of most of our exports to Switzerland, with almost €3.7 billion of Irish exports to Switzerland in 2011. The €219m swing in Ireland's favour last year was split equally between cuts in imports and an export boom.
5 - Denmark
In relative terms, Denmark is actually one of Ireland's worst trading areas - we routinely import far more than we send back. That makes it one of the improved territories in 2011, though: imports fell by €170m while exports were up by €51m - a €221m swing in Ireland's favour.
4 - Israel
Israel is one of the biggest climbers on the list, up from Ireland's 26th best trading partner in 2010 to 14th last year. Exports went from €251m to €492m while imports fell moderately. In all, Ireland's trade balance was €245m better off last year.
3 - Italy
Italy remains in seventh spot in the overall terms of countries with the highest net Irish exports. Exports to Italy grew by around €390m last year while imports remained flat. Net improvement: €383m.
2 - France
Exports to France have climbed the charts in relative terms, becoming the third-best country in terms of net exports, up from 6th in 2010. The trade balance in 2011 broke the €3 billion barrier for the first time, up by €396m which puts it in second place in terms of an improvement.
1 - USA
The USA remains by far the most fertile ground for Irish exports. In 2011 Ireland exported almost €21.5 BILLION of goods and services to the US, well up on the previous year, while Ireland also reduced imports by over €500m. Ireland's trade surplus from the US was €15.6 billion in 2011 - up by €1.24bn, the best of any country.
Comments (14 Comments)