Is Irish Market favorable for International trade

Ireland is blooming every second in every sector including International trade. It is a known fact that the relationship between the US and Ireland is a close-knit on cultural, political, economic and commercial sectors. But, the question remains that is the Irish market favorable for International trade. 

Well, the answer to this question is a BIG YES. According to the recent statistics, US-Ireland international business relationship based on trade and investment is somewhere close to $825 billion which is a significant figure when talking about Internation trade standards and is quite appreciable taking into consideration Ireland’s population of 4.8 million people.

Having some promising insurance policies like Business Insurance Ireland or Business landlord insurance Ireland, the international trade between these two countries gets a smooth road to sustain its journey. 

In the year 2018, Ireland managed to make a top place in the World’s most open. FDI and export-driven economies. In terms of recovering economies, Ireland remains a plutocratic country with a net per capita GDP of $78,790. Irish Government has the maximum emphasis on job creation to curb the current unemployment rate of 4.5 percent which was even higher in 2012 with 15.1 percent. 

With the help of some useful insurance policies like Business Landlord Insurance Ireland and Commercial property insurance Ireland, Irish businessmen have less-complicated ways to do International business with countries like the USA.  

With the boost in International trade, Ireland’s GDP has increased by 8.2percent in 2018, which is a milestone in itself. This achievement landed Ireland in the position as one of the  World’s best-performing economies in the EU for the past five years. Going by this pace, it is forecasted that in the Year 2019 Ireland’s GDP growth may increase to 5 percent based on an expected mushrooming of exports, and an unshakeable domestic supply and demand. 

Talking about the growth of international trade in the Irish market more deeply, in 2018 the U.S. exported goods to Ireland had gone beyond $10.8 billion Dollars which includes chemicals and pharmaceuticals, computers and electronics, aircraft equipment, medical device supply, power generation technology, travel, and tourism. 

The US-Ireland investment into the International trade since the following years is noteworthy. According to the statistics, the total stock that was imported and exported with U.S. investment is close to $442.2 billion in the year 2018. There are approximately 700 plus U.S. firms that operate in Ireland and employees around 155,000 people contributing to approx 20 percent of the total employment of the country. 

Therefore, Ireland leaves no stones unturned to boost and promote international trade and offers some securing business insurances like Business Landlord Insurance Ireland and Business Insurance Ireland to help the businessmen who are contributing extensively to International trade get maximum financial support and help from the Government’s plans.

Similarly, for those who are making big in the corporate sectors, insurance policies like Corporate Property insurance Ireland help in boosting their businesses. With these and many more ways of Government’s support, it is estimated that in the yeat 2018 Ireland’s total stock investment in the U.S. market was valued around $237.7 billion, maintaining the rank of the 9th largest source of FDI into the U.S.A. 

Concluding it all, without a doubt the Irish market is favorable to international trade, which is not helping in rising in the per capita GDP growth but also helps in boosting the employment rate of the country making its economy reach the heights swiftly.  Ireland’s high willingness to consider newly discovered ideas for U.S. products and services is responsible for creating a fertile international market for all American brands across sectors. It is perceived that U.S. goods quality is high-marked, helping in boosting the further export goals for Ireland and its economy.