Franco Irish Trade
In 2010, overall trade between France & Ireland reached 6.3Mds € , down 6% compared to 2009 (6.7Mds €).
French exports shrank by 16% (€ 2.1Mds 1.8Md in 2009 to € 2010), because of transport equipment exports, which fell 54%. These declines were offset by the significant increase in French exports of pharmaceutical products and a constant maintenance in other areas.
Irish export to France, consisting mainly of pharmaceutical and chemical products, are maintained with a very slight decrease of 1% (4.5Mds € in 2009 to 4.4 billion € in 2010).
The trade balance deficit of 2.6 billion € is to the detriment of France (2.4 billion € in 2009). France is the fifth customer of Ireland and its sixth supplier
France Ireland Bilateral Trade (in Bln€)
|French Exports to Ireland||2.7||2.9||2.7||2.1||1.8|
|Irish Exports to France||6.3||6.5||6.1||4.6||4.4|
|Trade Balance (in favour of Ireland)||3.6||3.6||3.4||2.5||2.6|
Bilateral investments: France > Ireland
As far as flows of FDI are concerned, 2009 saw a sharp rise of 2.5Mrds € (after only € 152m in 2008), in French flow of FDI to Ireland. These investments include € 706m in the area of finance and insurance, € 697m in the industry (of which € 616 million in aircraft construction and space), € 652m in trade and € 360M in communication. As far as Ireland is concerned, the Irish flow of FDI in France in 2009 is estimated at € 500m. This result is in sharp decline compared to € 3 billion recorded in 2008. Ireland regresses from ninth investor in France to the 14th place.
In term of stock of FDI
FDI stock held by France in Ireland has grown steadily and is concentrated in manufacturing and in financial intermediation In late 2009, the outstanding French FDI in Ireland amounted to € 21.8Mds. The stock held by France continues to increase: + 16% compared to 2008 (€ 18.3Mds).
There are about 130 French subsidiaries employing about 12 000 employees in Ireland (source: Ubifrance). Large groups have settled in the industrial sector, Pernod Ricard in agrifood, Sanofi Aventis, Servier and Valois in the field of pharmacy, Alstom, Transroute, Valeo in transport and Veolia in Environment. The financial sector has also attracted major groups such as BNP Paribas, Credit Agricole and AXA. In the service sectors we find the Accor group, Mazars, JC Decaux, Vinci and Sanef.
Bilateral investments: Ireland > France
The Irish FDI stock in France is increasing but remains concentrated in the pharmaceutical and chemical industries.
In 2009, Ireland has € 18 billion of FDI in France, 7% higher than the previous year (€ 16.8Mds). They represent 2.5% of the total stock of FDI on French territory.
Ireland has 550 companies in France, Ireland employing nearly 10,000 people (source Enterprise Ireland) Irish Industry groups most active in France are: CRH (construction equipment), Smurfit Kappa (cardboard packaging) Kerry group (food), Glen Dimplex (electrical equipment), Glanbia (dairy) and Ryanair.