Irish Trade Surplus Reaches Record High

Ireland recorded a EUR 5.75 billion trade surplus in January of 2017 compared to a downwardly revised EUR 3.79 billion surplus in the previous month. It is the biggest surplus on record as exports jumped 7 percent to record high while imports slumped 20 percent to the lowest in a year.

Exports rose to EUR 10.84 billion, recovering from a 2 percent drop in December. Imports declined to EUR 5.09 billion, following a 1.2 percent drop in December. 

On a non-seasonally adjusted basis, exports went up 14 percent compared to the previous year, boosted by sales of chemicals and related products (14 percent) and machinery and transport equipment (14 percent). Imports went up 3 percent year-on-year, mainly due to a 66 percent jump in purchases of mineral fuels, lubricants and related materials.

The EU accounted for EUR 5.086 billion (51 percent) of total goods exports in January of which EUR 1.355 billion went to Belgium and EUR 1.073 billion to Great Britain. The USA was the largest export destination accounting for EUR 3.104 million (31 percent) of total sales. Goods imports from the EU made up 60 percent of the total purchases, with EUR 1.251 billion (24 percent) coming from Great Britain. The USA with EUR 0.645 billion (12 percent) and China with EUR 0.392 billion (8 percent) were the largest non-EU sources of imports.

Irish Trade Surplus Reaches Record High

CSO | Joana Taborda |
3/15/2017 11:41:00 AM