| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy

Finfacts changes from 2015


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Global Cost of Living

Irish Tax - Income/Corporate




Content Management by interactivetools.com.

News : Irish Economy Last Updated: Jan 13, 2015 - 7:49 AM

Forty American firms account for two-thirds of Irish exports
By Michael Hennigan, Finfacts founder and editor
Jul 4, 2014 - 7:31 AM

Email this article
 Printer friendly page

Just forty American firms account for two-thirds of Irish headline exports and they directly employ about 72,000 people in Ireland - - equivalent to 3.3% of the workforce.

We say 'headline' exports as from Thursday's revised value of 2013 total exports of €184bn*, about €70bn could be attributed to excess transfer pricing in manufacturing and Double Irish Dutch Sandwich tax avoidance schemes in services.

The three sectoral categories where US firms operate are Pharmaceuticals/Medical Devices, High Tech Manufacturing/Software/Web Services and Financial Services.

1. The Pharmaceuticals/Medical Devices sector accounted for 57% of merchandise exports in 2013.

The Forfás annual employment survey has 51,000 employed in the sector in 2013 with 4,000 in indigenous firms while the CSO (Central Statistics Office) estimates employment at 41,000.

Pfizer is the top firm with exports of €7bn and a payroll of more than 3,000.

Our estimate in this sector is 22 American firms with employment at 39,000 and exports of €48bn.

2. In High Tech Manufacturing/Software/Web Services we have 14 firms using both published accounts information and The Irish Times Top 1,000 companies.

Google, Microsoft, Dell Products (it books the output of its Polish plant in Ireland) and Oracle account for 70% of the exports of  €66bn by this group.

Google and Microsoft, the biggest tax avoiders, account for €30bn. There are 32,000 employed.

3. In Financial Services, banking, insurance and aviation leasing accounts for 26% of services exports in 2013.

Aviation leasing accounts for €7.5bn in exports.

It has a small number of firms in the sector with small payrolls managing over 3,000 commercial aircraft from Dublin with a value equivalent to half Ireland's GDP.

We have included 4 firms with an exports estimate of €5bn and a payroll of 600.

We haven't sales estimates for Citibank and Bank of America, which employ about 4,000 and 2,000 respectively in Ireland.

We have omitted these firms but in the High Tech Manufacturing/Software/Web Services category, we included Apple from the Top 1,000 listing - - it has about 4,000 employed in Ireland but most of the estimated sales of €6bn maybe offshore.

In summary, we have 72,000 working in 40 firms that book exports of €119bn -- 65% of annual exports.

*We have included the original value of 2013 exports in the chart above for comparative purposes as the change of standard is not a normal revision.

Finfacts: Irish Economy: Ireland's ephemeral services export boom

Finfacts: Jobs in Ireland's foreign-owned sector in 2013 below level in 2000

Related Articles

© Copyright 2015 by Finfacts.ie

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March