The $389 billion and €38.96 billion figures are both correct, but they measure two completely different economic metrics. [1, 2]
The confusion comes from comparing cumulative national Foreign Direct Investment (FDI) to the annual exports of a specific agency's client companies. [1, 2]
The Difference Between the Two Figures
| Metric | Amount | Scope | What it Measures |
|---|---|---|---|
| Total Cumulative FDI | $389 Billion | All Irish entities in the US | The total historical value of investments, acquisitions, and operations built up over decades by all Irish companies (like CRH, Kerry Group, and Smurfit Kappa) in the US market. |
| Enterprise Ireland Exports | ~€38.9 Billion | Enterprise Ireland clients globally | The value of goods and services sold internationally in a single year only by companies supported by the government agency Enterprise Ireland. |
1. The $389 Billion Figure: Total US Investment
