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Ireland-China

Trade between China and Ireland increases in 2017

March 5, 2018

Trade between China and Ireland has exceeded $10 billion U.S. dollars for the first time in history, marking a new record of the trade ties between the two countries, said an official with the Chinese embassy last month.

The official made the remarks while being asked to comment on the latest statistics released by Ireland’s Central Statistics Office (CSO) regarding the trade figures between China and Ireland in 2017.

According to the figures released by CSO, in 2017 the goods trade volume between China and Ireland shot up 19.72% to reach 9.58 billion euros.

In 2017, China including Hong Kong and Macao exported a total of 4.51 billion euros worth goods to Ireland, up 272 million euros or 6.41% compared with 2016 while its goods imports from the latter totalled 5.07 billion euros, up nearly 1.31 billion euros or 34.73% over a year ago, with China suffering a trade deficit of 557 million euros against Ireland.

Last year, the goods trade volume between China and Ireland accounted for 4.81% of Ireland’s total external trade of goods, which stood at 199.03 billion euros, up 0.68% from the previous year.

The Chinese embassy official said that the potential of the bilateral trade between China and Ireland remains much to be tapped as the economies of the two countries are quite complementary to each other.