Ireland is the textbook example of a small open economy where external trade accounts for an inordinately large part of the economic landscape.
In 2013, exports of goods & services accounted for 108 per cent of GDP and total trade in goods and services, as in exports and imports, accounted for 192 per cent of GDP. This does signify an economy where external trade is incredibly significant by any stretch of the imagination.
Last year merchandise exports totalled...
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