The Irish economy is in recession and the country is in danger of losing its position as the biggest contributor to global trade, with the UK accounting for the lion’s share.
In fact, it is the UK, the EU and Australia that have the highest share of exports to Ireland, accounting for around two-thirds of the country’s exports.
The UK has accounted for almost half of the EU’s exports to the island nation in the last four years.
“Ireland is a huge economic power, and the EU has been a big supporter of Ireland’s economy and competitiveness,” said Brendan McGinley, an international trade expert at the National University of Ireland.
“So it is very important that we maintain that level of economic growth and economic competitiveness.”
The economic downturn in Ireland started in 2012.
Ireland’s exports fell by almost half in that year, according to the latest figures from the Office for National Statistics (ONS).
It is the biggest drop since the 2007-8 recession, when exports fell from €1.7bn to €1bn.
The Irish share of the global market has also been slipping.
In 2013, the Irish economy was worth just €2.9bn, down from €3.9 billion in 2012, the last time the ONS started collecting the data.
Ireland is now expected to fall to €2bn this year.
This is the lowest level of the past 25 years.
The share of Irish exports to Germany fell from 30.6 per cent in 2012 to 28.5 per cent this year, a fall of 7.5 percentage points, according the ONs latest figures.
The European Union is also seeing its share of EU exports fall, from 23.3 per cent to 22.9 per cent, according a report in the Irish Times last week.
In other words, it has fallen by more than half a percentage point in the past year.
EU countries have seen the biggest falls in exports to Dublin, according that report.
Spain, Italy and France all have smaller exports to Irish towns and cities.
Italy’s share of global trade has been falling for decades, from more than a third in 1992 to less than two-fifths today.
Ireland has fallen out of favour with the EU.
Ireland lost its trade status with the bloc in 2014, after it voted to leave the European Union.
The EU was due to have negotiated a trade deal with Ireland before the UK voted to stay in the bloc.
But the talks stalled over the EUs inability to reach a deal.
The US and Australia have also seen a drop in trade with Ireland, and a rise in imports from the island.
Ireland had its biggest drop in international trade with the US since 2000, when it dropped from €12.2bn to just €10.6bn.
Ireland was the biggest importer of goods to Australia last year, but its exports to those two countries have also fallen sharply.
The OECD predicts Ireland will fall out of the top 15 most export-dependent economies by 2020, with its share falling from 26 per cent of global exports in 2014 to just 13 per cent.
It predicts Ireland’s share will fall further.
Irish exports will be at risk as a result of the economic downturn, according Liam O’Sullivan, the countrys former trade minister.
“It’s really the end of the road for the Irish-US bilateral trade deal,” he said.
“There is nothing that will happen that will change Ireland’s position.”
Liam O and Brendan McGinness, the two former ministers who were involved in negotiations over the deal, have been in talks with Irish officials since January.
“This is not about Ireland’s economic position, this is about the economic position of the UK and the European Community,” Liam O said last week on RTÉ’s The Sunday Politics.
“I think there is a fair amount of concern among people that the UK will be going in the opposite direction and we will have a lot of other trading partners.”
Irish politicians are also concerned that Ireland’s relationship with the European Commission could suffer.
Ireland currently has one of the lowest-rating agencies in the EU, the Commission’s Economic Affairs, which reviews the countryís economic performance and conducts a number of economic studies.
This was highlighted by a recent poll by the Irish Centre for Policy Studies (ICPS), which found a majority of Irish people were worried about their economic position.
The ICPS said Irish politicians were concerned that the Government was not doing enough to improve Ireland’s trade relationship with other countries.
It also said the Government had not been forthcoming in making public the number of EU companies it had signed up to trade with.
The Government has said that it has committed €1 billion to the Irish Business Innovation Fund and that it will invest an additional €400 million over the next two years to promote trade between the EU member states.
However, it may not be enough to keep Ireland out of recession.
“The Irish economy has been growing rapidly and the economy is now expanding very rapidly, but the Irish government