30 June 2026 – Press Release
“That we are stronger when we are connected. That our prosperity grows when it is shared.”
Canadian Prime Minister Mark Carney, Trinity College Dublin, 13 June 2026
Irish exports to Canada surge 88% in early 2026 as ICBA calls for step-change in bilateral ties
Irish merchandise exports to Canada jumped 88 per cent in the first four months of 2026 compared with the same period last year, according to a new report commissioned by the Ireland Canada Business Association – a sharp reversal after a 2025 dip caused by export front-loading to the US ahead of tariffs.
The figures are published two weeks after Canadian Prime Minister Mark Carney told an audience at Trinity College Dublin that “with our common history and shared values, Canada and Ireland have developed a unique transatlantic worldview” rooted in a conviction that the two countries are stronger when connected. The report, authored by economist Jim Power, argues that conviction now has an urgent economic basis.
Exports of Irish goods and services to Canada have grown from €3.3 billion in 2017 to €8.1 billion in 2024. Irish service exports to Canada now exceed €4 billion a year – up from €234 million in 2003. Canadian direct investment in Ireland reached €5.1 billion at the end of 2024, an increase of more than 40 per cent since 2022. Merchandise imports from Canada hit a record €1.59 billion in 2025, up 37 per cent on the previous year, reflecting deepening two-way trade.
The report argues that Ireland’s economic dependence on the United States – long a source of strength – now represents a concentration risk that makes deepening the Canadian relationship a matter of strategic urgency rather than preference. Two US technology firms alone accounted for almost 40 per cent of Ireland’s corporation tax receipts in 2024.
Jim Power, who authored the report, said:
“For many years the Ireland–Canada relationship was viewed as an attractive opportunity. Today it has become a strategic necessity. Diversifying trade and investment is no longer simply good economic policy – it is essential economic policy.”
The timing is significant on the Canadian side too. With 73 per cent of Canada’s merchandise exports going to the United States, the Canadian government has set an ambition to double its non-US exports by 2035 and is actively seeking closer alignment with EU industrial policy. Ireland, as the only native English-speaking common law country in the EU, is well positioned to benefit from that pivot.
The ICBA is calling on government and industry to act on five specific priorities: full ratification of the EU-Canada trade agreement CETA; a concerted push to attract Canadian investment into Ireland’s innovation sectors; deeper collaboration in AI, life sciences and clean technology; improved direct air connectivity between the two countries; and more structured support for Irish companies entering the Canadian market.
Dr. Deirdre Giblin, Chair of the ICBA, highlighted the incredible potential of the Ireland-Canada relationship –
“Ireland and Canada are both outward-looking, innovation-driven economies that thrive on international cooperation. While the opportunity strengthens we now have the chance to match that potential with the continuance of a dedicated, institutional focus.”
The report identifies technology and innovation as the most immediate area of opportunity, pointing to Ireland’s established position in AI, life sciences and advanced manufacturing alongside Canada’s active interest in stronger European market access.
Dr Giblin added:
“When Ireland faced its deepest financial crisis, Canada stood firmly beside us. The question now is whether we use that foundation to build something proportionate to what both economies actually need from each other.”
Media contact: Kate Hickey, ICBA Executive Director – 087 225 9604
Dr Deirdre Giblin is available for interview on request.