Irish Trade Surplus Widens Sharply as Exports Jump


Ireland's trade surplus widened to EUR 5.90 billion in July 2019 from EUR 3.36 billion in the corresponding month of the previous year.

Exports jumped 19 percent from a year earlier to EUR 13.18 billion in July, boosted by sales of medical and pharmaceutical products (18 percent), organic chemicals (35 percent), electrical machinery and equipment (70 percent), and office machinery and automatic data processing machines (49 percent).

The EU accounted for EUR 6.52 billion, or 50 percent, of total goods exports of which EUR 1.45 billion went to Belgium and EUR 1.37 billion was exported to Germany. Total EU exports increased by EUR 895 million, or 16 percent, compared with July 2018. Exports to Great Britain decreased by EUR 66 million, or 6 percent, to EUR 1.11 billion. The US was the main non-EU destination accounting for EUR 4.05 billion, or 31 percent, of total exports.

Meanwhile, imports were down 6 percent to EUR 7.27 billion, led by lower purchases of medical and pharmaceutical products (-52 percent) and other transport equipment, including aircraft (-18 percent); while imports of petroleum rose 31 percent, and those of road vehicles increased 19 percent.

The EU accounted for EUR 4.08 billion, or 56 percent, of total goods imports, which is a decrease of EUR 816 million, or 17 percent, compared with July 2018. Imports from Great Britain, which accounted for 21 percent of the value of total imports, were up by EUR 51 million, or 3 percent, to EUR 1.53 billion in July. The US with EUR 1.30 billion, or 18 percent, and China with EUR 512 million, or 7 percent, were the main non-EU sources of imports.

Considering January to July, the trade surplus widened to EUR 39.43 billion from EUR 30.81 billion in the same period of 2018.

Irish Trade Surplus Widens Sharply as Exports Jump


CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/16/2019 10:55:41 AM