Nearly one-third of Irish exports to the Middle East go to Saudi Arabia

Arab Irish Chamber of Commerce chief executive Ahmad Younis said the region 'is still underexploited in terms of the opportunities for Irish businesses'.

Ireland exported €1.46bn worth of products to Middle East and Gulf countries during the first six months of the year, with Saudi Arabia alone accounting for nearly one-third. 

According to figures from the Central Statistics Office, exports to Saudi Arabia grew by 6% to €465m during the first half of this year compared to the same period in 2022. 

Imports from the country into Ireland stood at €63m — more than double the €27m imported in 2022.

Among the most popular items exported to Saudi Arabia include essential oils, perfume materials and toilet preparations, medical and pharmaceutical products, and inorganic chemicals.

Morocco saw a 21% growth in Irish exports to €69m during the first half of 2023, while Irish exports to Tunisia grew to €17m — an increase of 148%, albeit from a lower base. Algeria imported €5.8m worth of goods from Ireland during the same period.

There are 22 countries in what is considered the Arab world, including Algeria, Bahrain, Egypt, Iraq, Jordan.

Ahmad Younis, chief executive of the Arab Irish Chamber of Commerce, said the region “is still underexploited in terms of the opportunities for Irish businesses”.

Traditionally, Irish businesses and senior executives with expertise in sectors such as technology, aviation, infrastructure and tourism have done very well in the Arab world.”

According to the CSO figures, the US remains Ireland’s largest export market. Between January and July, more than €27.5bn worth of goods were sent to the US.

The next largest trade partner is the UK, with €11.88bn worth of goods exported from Ireland during the same period, €2.3bn of which was to Northern Ireland. 

Germany rounds out the top three countries for Irish exports with €10.6bn worth of goods already sent this year.

Earlier this week, the CSO revealed there has been a €3bn fall in the value of Irish exports during the first half of this year due mainly to a drop-off in the medical device and pharma sector.

The figures show the total value of goods exports fell to €102bn between the start of January to the end of June, from just over €105bn in the same period last year.

Exports of medical and pharma products — which account for the largest share by far of all Irish goods exports — fell to €37.7bn in the first six months, from €42.7bn in 2022.