The dynamics of total trade volumes between Ukraine and Ireland in the trade and economic sphere resumed growth after a significant drop in 2022 due to Russian aggression.

According to the State Customs Service of Ukraine, the total volume of trade in goods for 11 months of 2022 increased by 51% compared to the same period in 2022 and amounted to 182 million USD. Exports of goods totalled 12.8 million USD. The imports of goods amounted to 169 million USD. The imports of goods amounted to 169 million USD.

The main sectors of trade and economic cooperation remained agriculture, pharmaceuticals, food and beverage, instrumentation, etc. In the services sector, the main trade volumes were in transport, computer and telecommunications, and business services.

The largest groups of exports of goods from Ukraine to Ireland in 11 months of 2022 were: a) cereals, with a trade volume of 9.5 million. b) electrical machinery and spare parts - 1.8 million; c) oil and oil products - 1.8 million. c) oil and oil products - 0.8 million; d) air pumps - 0.8 million. d) air or vacuum pumps, air compressors and fans - 0.3 million. e) bags and sacks - 0.2 million.

The largest volumes of imports of goods from Ireland were recorded in trade in the following products: a) pharmaceutical products in the amount of USD 75.7 million; b) ethyl alcohol - 25.8 million; c) 'automatic information processing machines and their units' - 13.2 million; d) other food products. d) other food products - 9.7 million (48.2%).

According to the National Bank of Ukraine, as of 31.12.2022, Ireland invested 186.6 million of direct investment in the Ukrainian economy.

Equity instruments as of 31.12.2022 amounted to 28 million. The largest volume of Irish investment came to the information and communications sector of Ukraine and amounted to 7.4 million, and to industry - 6.5 million.

A positive signal for the investment climate in Ukraine was the decision of Irish construction companies Kingspan and CRH to invest EUR 280 million in the construction of a construction campus in Ukraine by 2030.

In response to Russian aggression, 20 out of 25 largest Irish companies announced a complete cessation of operations in Russia. 5 have stopped supplying their products or are gradually preparing for a complete withdrawal.

In this context, it is worth noting the joint information campaign of the Embassy and the Ukrainian community in Ireland against the decision of Irish Distillers, the owner of the Jameson brand of Irish whiskey, to resume supplies to Russia in March 2023. This resulted in the decision of the French company Pernod-Ricard to stop exporting all its international brands to Russia.

During the reporting period, following a series of meetings and negotiations between the Embassy and Irish companies, their interest in the resumption of international passenger and cargo air services to and from Ukraine increased significantly.

In particular, on 20 July 2023, Ryanair's management visited Kyiv and announced a €3 billion investment package for the post-war development of the airline industry.

On 13 December, representatives of Boryspil and Lviv airports held an online meeting with the management of Dublin Airport Authority. The company manages the operations of Dublin, Cork and Jeddah airports (Saudi Arabia) and is ready to provide operational advice and free training to airport staff to ensure the fastest possible resumption of their operations after the end of hostilities in Ukraine.

Ukraine and Ireland are also developing cooperation in the IT sector. In June 2023, with the active assistance of the Embassy, the Ukrainian stand was opened at one of the main European IT events - Dublin Tech Summit. For the first time, Ukrainian companies had their own stand, which significantly improved the chances of presenting their products to European customers. The following Ukrainian companies took part in the Summit: "Digicode, Jevera, Inetics, Lampa Software, Devlight, Sigma, Vivesen, Itera and 8allocate. The summit was also attended by representatives of the IT Ukraine Association. An agreement was reached on Ukraine's participation in the Dublin Tech Summit in 2024.