US firms invested almost $18 billion (€13.28 billion) in Ireland in the first six months of the year, rising 49 per cent from 2010 and putting Ireland on a par with the Netherlands, Canada and the UK.

According to a report from the American Chamber of Commerce Ireland, investment from the US has grown five-fold in the past 10 years and is now worth $190 billion – more than the US has invested in Brazil, Russia, India and China combined. It accounts for about a quarter of Ireland’s GDP.The total output of US foreign affiliates in Ireland was estimated to be about $55 billion last year.

Of the total US investment in Europe, Ireland had a share of 8.7 per cent in 2010, up from 5.2 per cent in 2000.

Last year, Irish firms invested $8 billion in the US, a new record, and were responsible for supporting 120,000 jobs.