Ireland-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $11.49B total volume •Ireland surplus: $3.45B
Ireland → Italy
$7.47B
Exports (2023)
Italy → Ireland
$4.02B
Imports (2023)
Trade Balance
$3.45B
Surplus for Ireland
Total Trade
$11.49B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Ireland and Italy. Green line shows exports from Ireland, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Ireland-Italy commercial relationship and competitive positioning in global markets.
Ireland → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Ireland's export portfolio to Italy demonstrates strong diversification across multiple sectors, with polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts representing a key competitive advantage in this bilateral market.
Italy → Ireland Imports
Import Dependency Profile
📦 Import Strategy Analysis
Ireland's import pattern from Italy reveals significant dependencyin jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Ireland demonstrates competitive strength in exportingpolypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $11.49B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Ireland-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $11.49 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Ireland maintains a surplus of $3.45 billion
- Export Focus: Ireland's primary exports include polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, telephones for cellular networks or for other wireless networks
- Import Dependencies: Key imports from Italy include jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $11.49B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Ireland leveraging its comparative advantages in polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Ireland's specialization in polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its saltscomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $11.49B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $11.49B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $11.49 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts and jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Ireland's trade surplus of $3.45 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Ireland and Italy represents a total trade volume of $11.49 billion in 2023. This partnership demonstrates a favorable trade balance for Ireland, with exports exceeding importsby $3.45 billion.
Export Strengths
Ireland's exports to Italy total $7.47 billion, with competitive advantages in polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts, representing $2.35B or31.5% of bilateral exports.
Import Dependencies
Imports from Italy amount to $4.02 billion, highlighting economic interdependence in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, with Jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof comprising17.2% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Ireland's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Ireland and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023