Irish Trade Surplus Widens in January as Exports Jump 20%

Irish trade surplus widened to EUR 5.49 billion in January 2018 from EUR 4.18 billion in the same month of the previous year.

Exports increased EUR 2.0 billion, or 20 percent, from the previous year to EUR 11.93 billion in January, due to higher sales of organic chemicals (86 percent) and medical and pharmaceutical products (39 percent). By contrast, exports of electrical machinery, apparatus and appliances dropped 42 percent.

The EU accounted for EUR 5.45 billion, or 46 percent, of total goods exports in January, of which EUR 1.41 billion went to Belgium and EUR 0.76 billion to Germany. Exports to Great Britain increased by EUR 0.24 billion, or 25 percent, to EUR 1.18 billion compared with the same month last year. The increase was almost entirely in chemicals and related products. The US was the largest export destination accounting for EUR 3.86 billion, or 32 percent, of total exports.

Meanwhile, imports rose EUR 0.71 billion, or 12 percent, to EUR 6.43 billion compared with January 2017, as purchases grew for medical and pharmaceutical products (88 percent) and other transport equipment, including aircraft (28 percent).

Goods imports from the EU made up 57 percent of the total value in January. Total imports from the EU of EUR 3.64 billion represents an increase of EUR 0.30 billion, or 9 percent, on the same period in 2017. Imports from Great Britain increased by EUR 0.12 billion, or 9 percent, during the same period. The main increases were in mineral fuels, lubricants and related materials and chemicals and related products. The US with EUR 1.42 billion, or 22 percent, and China with EUR 0.43 billion, or 7 percent, were the largest non-EU sources of imports.

Irish Trade Surplus Widens in January as Exports Jump 20%

CSO | Joana Ferreira |
3/16/2018 11:17:16 AM