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Chapter 1

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Chapter 1: Irish-US Linkages Post-Crisis Ties are even Stronger and More Critical

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Chapter 1: Highlights

  • Since the Great Recession of 2008/09, and amid swirling winds of global change, Ireland has become even more important and more critical to the global success of corporate America.
  • Over the five-year period starting in 2008 and ending in 2012, U.S. firms invested more capital in Ireland ($129.5 billion) than in the previous 58 years combined.
  • The level of investment in Ireland over 2008-2012 was roughly 14 times larger than U.S. investment in China.
  • In 2012, Ireland ranked as the fourth largest recipient of U.S. FDI, garnering almost as much U.S. investment as all of developing Asia. While U.S. investment to Ireland rose marginally last year, by roughly 1%, to $22.8 billion, total U.S. investment to the EU declined sharply, by 17.5%.
  • In the first half of 2013, Ireland moved up in the rankings, emerging as the third largest recipient of U.S. FDI. U.S. investment flows to Ireland totalled $15.8 billion in the first half of this year, a 32% rise from the same period a year ago.
  • On a historic cost basis, the stock of US investment in Ireland broke the $200 billion barrier for the first time in 2012. Corporate America's FDI stock in Ireland is equal to the U.S. stock in France and Germany combined. What's more, it is nearly 20% larger than the aggregate U.S. stock in the BRIC nations.
  • Exports figure only nominally in Irish-U.S. linkages, but when U.S. foreign affiliate sales in Ireland are factored into the equation, a minor player in trade becomes a global strategic giant based on foreign direct investment and affiliate sales/activities.
  • U.S. foreign affiliate sales in Ireland are hardly insignificant. By our estimates, U.S. affiliate sales of goods and services totalled $282 billion in 2012.
  • Using actual figures-for 2010-U.S. foreign affiliate sales in Ireland-with a population of 4.5 million and a GDP of just $210 billion-were greater than affiliate sales in China ($170 billion) and Japan ($247 billion).
  • Ireland now ranks the number one export platform in the world for U.S. affiliates based on the latest available data, underscoring the importance of Ireland in the global value chains of U.S. firms. 

Graphs (click to enlarge):

1.1 US Foriegn Direct Investment in IrelandUS FDI In Ireland

1.2 Pre & Post Crisis US FDI Outflows to IrelandPre and post crisis fdi outflows to ireland

1.3 FDI Outflows in the Post Crisis WorldFDI outflows in the post crisis world

1.4 Major Destination for US FDI Flows, 2012major destinations for us fdi 

1.5 Major Destination for FDI 2013Major destinations for us fdi flows, 2013 

1.6 US FDI Stock in IrelandUS FDI Stock in Ireland 

1.7  US FDI Outflows to Ireland exceed BRICs US FDI Outflows to Ireland exceed BRICs

1.8 Top 10 European Countries FDI Stock1.8 Top 10 European Countries FDI Stock 

1.9 US Sales of affiliates in IrelandUS Sales of affiliates in Ireland 

1.10 US Top 20 sales destinations abroad1.10 US Top 20 sales destinations abroad