The Irish Maritime Development Office (IMDO) has released its 2024 Irish Maritime Transport Economist report. The report indicates that the maritime sector experienced notable growth this year.
The IMDO's iShip index rose by 2%, following a sharp decline in 2023. Bulk traffic through Irish ports increased, especially in dry bulk, with seven out of nine dry bulk ports reporting growth.
However, liquid bulk volumes fell by 8%, primarily due to a drop in exported products. Ireland's reliance on imported liquid bulk goods remains stable, averaging around 9 million tonnes over the past decade.
Mixed results were observed in the Roll-on/Roll-off (RoRo) and Lift-on/Lift-off (LoLo) sectors. RoRo traffic declined by 1% in 2024, following a 2% drop in 2023. The IMDO noted that volumes in this sector have plateaued.
In contrast, the LoLo sector achieved record growth, increasing by 10% in 2024. Monthly volumes surpassed 100,000 Twenty-foot Equivalent Units (TEUs) for the first time.
Irish inflation decreased significantly in 2024, with goods prices 1.5% lower than in the previous year. The European Union also recorded disinflation, dropping from 6.9% to 1.3%.
Positive economic growth figures were observed in Ireland and its major trading partners. Irish modified domestic demand grew by 2.7% in 2024.
In May 2025, a new agreement between the EU and the UK was announced, aiming to improve trade conditions. This is crucial as over a third of Irish port traffic involves Great Britain.
A key feature of the agreement is the reform of Sanitary and Phytosanitary (SPS) measures, aimed at simplifying inspections.
Liam Lacey, Director of the IMDO, expressed gratitude to those in the maritime sector, stating, “Your efforts continue to support economic growth and enhance efficiency.”
