Bilateral relations

Economic Relations

 

Ireland is one of Romania's EU economic partners with which Romania aims to increase and diversify the volume of trade and cooperation, mainly to stimulate the increase of the Romanian exports, in order to get a more balanced trade.

Bilateral trade in the last 10 years have doubled, both because of the increase in exports (nearly 4 times) and imports (approx. 2 times), but they do not fully reflect the real potential of the two economies. Currently, Ireland is ranked the 21st place on export and 17th place on imports in the Romanian trade with EU countries. Year 2015 recorded the best development of Romanian exports and trade volume in the whole bilateral relationship with Ireland, trade exceeding for the first time the threshold of Euro 500 Million.

After the first six months of 2016, the value of total Romanian-Irish trade was of Euro 223.53 Million, out of which Romanian exports amounted to Euro 61.91 Million and imports Euro 161.63 Million. The trade balance for Romania was Euro -99.72 Million, an appreciation of Euro 11.1 Million against the same period of last year.

At the end of June 2016, the volume of the bilateral trade has had an descendent evolution, decreasing by 11.4 per cent, in comparison with the first half of 2015, out of which exports decreased by 12.1 per cent, and imports decreased by 11.1 per cent. Ireland represents 0.37 per cent out of total Romania's foreign trade.

- million Euro -

 

2009

2010

2011

2012

2013

2014

2015

2016

6 months

TOTAL

328.3

327.4

391.2

448.5

484.6

461.07

471.54

223.53

Export

75.9

83.5

89.3

86.0

104.2

102.73

123.96

61.91

Import

252.4

243.9

301.9

362.5

380.4

358.34

347.57

161.63

Balance

-176.5

-160.4

-212.6

-276.5

-276.2

-255.61

-223.61

-99.72

 

 

Romanian exports to Ireland have been concentrated, on the 30th June 2016, in a proportion of 83 per cent on 5 groups of goods:

1. machines and apparatus, electrical equipment:            19.40 mil. Euro (31.3 %)

2. vehicles, aircrafts, transport equipment:                      14.78 mil. Euro (23.9 %)

3. textiles and articles there off:                                                 10.30 mil. Euro (16.6 %)

4. other goods                                                                4.35 mil. Euro (  7.0 %)

5. vegetal products, cereals                                            2.72 mil. Euro (  4.4 %)

As regards the imports, a number of only 2 groups of products represent 88 per cent of the Romanian imports from Ireland:

1. chemicals, pharmaceuticals:                                       94.86 mil. Euro (58.7 %)

2. machines and apparatus, electrical equipment:            46.90 mil. Euro (29.0 %)

Irish investments in Romania

On 30th of June 2016 (according to the Romanian National Trade Register Office), the number of the Romanian companies with Irish invested capital was 862 companies (representing 0.40 per cent out of total companies number), with a total invested capital (FDI) of Euro 28.51 Million (52nd place, share 0.05 per cent).

 

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06/12/19

On 12 June 2019, Mrs. Manuela Breazu, Ambassador of Romania to Ireland, chaired the last monthly meeting of the Heads of Missions…

Participation of the Ambassador of Romania at the marking of the 10th anniversary of the Eastern Partnership in Dublin (Government Buildings, 11 June 2019)

06/11/19

On 11 June 2019, under the aegis of the Romanian Presidency of the Council of the European Union, a Seminar dedicated to the marking of …

Educational offer - ”1 Decembrie 2018” University of Alba Iulia, Romania

06/04/19

The Embassy of Romania presents the information made available by the University "1 December 1918" Alba Iulia about teaching programs…