Ireland relies on imports for 80 per cent of its energy requirements, making it the fourth most import-dependent economy in the European Union when it comes to energy, the Central Statistics Office (CSO) has said.
In a new report on the use of resources within the Irish enterprise economy, the CSO said the Republic was also reliant on fossil fuels to generate 81 per cent of its energy in 2024.
Oil, 100 per cent of which is imported from abroad, met 60 per cent of the economy’s energy requirement in the year, followed by natural gas at 36 per cent.
The remainder of the Republic’s energy demand is met through coal (2 per cent) and peat (1 per cent).
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Transport fuels, mostly for aviation, and natural gas accounted for three-quarters of energy consumed by the Irish economy in 2024, according to the figures.
It meant the Republic’s import dependency rate was 80 per cent in 2024, the fourth highest rate in the EU after Malta, Luxembourg and Cyprus.
“Ireland generally holds around 90 days’ worth of oil stocks, in line with most EU members states, though some of these reserves may be held outside the EU to meet this requirement,” said Morgan O’Donnell, statistician in the CSO’s sustainability, circular economy and transport division.
“In September 2025, Ireland held 86 days’ worth of EU-based stocks, while five member states held at least 100 days, with Finland at 184 days holding significantly more than other EU member states.”
The figures highlight the Republic’s level of exposure to the uncertainty that has roiled global oil and energy markets since the beginning of the US-Israeli war on Iran in late February.
Oil prices hit their highest level on Thursday since the war began, with global benchmark Brent Crude topping $126 per barrel.
Under pressure in recent weeks, the Government has rolled out new supports for businesses grappling with sharp rises in energy prices. However, experts have warned that what is currently a price shock could transform into a global oil shortage if the Strait of Hormuz remains closed to traffic for much longer.
Meanwhile, the CSO said the Irish construction industry was the most environmentally extractive sector of the economy in 2023.
Some 55 per cent of the raw materials derived from the Irish environment in 2023 related to construction. Agriculture accounted for 44 per cent of the total.
“The Irish economy saw a large increase in domestic extraction between 2014 and 2023, up more than a fifth to 121 million tonnes,” O’Donnell said. “This was largely driven by a rise in the raw materials needed for construction-related activity.”
