Economy

‘Phantom exports’ plummet amid contraction in multinational trade

New figures show phantom exports reduced by half in the year to Q3, clouding Ireland’s economic outlook

Phantom exports are goods which are produced and traded in other countries under contract by Irish-registered firms, but recorded as exports here, despite never moving through Irish territory. Picture: Getty

Ireland’s “phantom exports” are down significantly so far this year, following a decade of extraordinary growth.

Phantom exports are goods which are produced and traded in other countries under contract by Irish-registered firms, but recorded as exports here despite never moving through Irish territory. They are highly correlated with the multinational sector, and although sectoral data is not published, they are understood to largely reflect the tech and pharma sectors.

Officially known as “goods for ...