Ireland's trade surplus widened to EUR 6.26 billion in February 2019, the second-largest on record, from EUR 3.98 billion in the corresponding month of the previous year. Exports climbed 21 percent while imports dropped 1 percent. Balance of Trade in Ireland averaged 1325961.36 EUR Thousand from 1970 until 2019, reaching an all time high of 6969100 EUR Thousand in January of 2019 and a record low of -280890 EUR Thousand in January of 1982.

Balance of Trade in Ireland is expected to be 4900000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Ireland to stand at 5900000.00 in 12 months time. In the long-term, the Ireland Balance of Trade is projected to trend around 3000000.00 EUR Thousand in 2020, according to our econometric models.

Ireland Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-15 11:00 AM Balance of Trade €4.8B €3.5B €4.5B
2019-02-15 11:00 AM Balance of Trade €3.6B €4.7B € 5.6B
2019-03-15 11:00 AM Balance of Trade €7B €3.2B €5.1B
2019-04-16 10:00 AM Balance of Trade €6.3B €7B €3.4B
2019-05-15 10:00 AM Balance of Trade €6.3B €6.2B
2019-06-14 10:00 AM Balance of Trade €4.0B
2019-07-15 10:00 AM Balance of Trade €4.2B

Irish Trade Surplus Remains Close to Record High

Ireland's trade surplus widened to EUR 6.26 billion in February 2019, the second-largest on record, from EUR 3.98 billion in the corresponding month of the previous year. Exports climbed 21 percent while imports dropped 1 percent.

Exports jumped 21 percent from a year earlier to EUR 12.61 billion in February, boosted by sales of organic chemicals (68 percent), medical and pharmaceutical products (9 percent), electrical machinery, apparatus and appliances (32 percent), and office machinery and automatic data processing machines (35 percent).

The EU accounted for EUR 63.10 billion, or 48 percent, of total goods exports of which EUR 1.63 billion went to Belgium and EUR 0.94 billion went to Germany. Exports to the EU advanced 12 percent year-on-year and those to Great Britain increased 16 percent to EUR 1.22 billion, accounting for 10 percent of total exports. The US was the main non-EU destination accounting for EUR 3.72 billion, or 29 percent, of total exports.

Meanwhile, imports fell 1 percent from a year earlier to EUR 6.36 billion, mainly due to lower purchases of other transport equipment, including aircraft (-20 percent), and medical and pharmaceutical products (-37 percent); while imports of food and live animals rose 14 percent.

The EU accounted for EUR 3.98 billion, or 63 percent, of total goods imports, which was a decrease of 2 percent compared with February 2018. Meanwhile, imports from Great Britain increased 19 percent to EUR 1.64 billion compared with February 2018. The main increases were in the imports of mineral fuels, lubricants and related materials and machinery and transport equipment. Imports from Great Britain were 26 percent of the value of total imports. The US with EUR 1.02 billion, or 16 percent, and China with EUR 0.34 billion, or 5 percent, were the main non-EU sources of imports.

Considering the first two months of the year, the trade surplus widened sharply to EUR 13.23 billion from EUR 9.55 billion in the same period of 2018.

CSO | Joana Ferreira |
4/16/2019 10:56:45 AM

Ireland Trade Last Previous Highest Lowest Unit
Balance of Trade 6258300.00 6969100.00 6969100.00 -280890.00 EUR Thousand [+]
Current Account 178.00 9104.00 13760.00 -6299.00 EUR Million [+]
Current Account to GDP 9.10 8.50 9.10 -13.40 percent [+]
Imports 6355900.00 6729800.00 8854800.00 62344.00 EUR Thousand [+]
Exports 12614300.00 13698900.00 13698900.00 44885.00 EUR Thousand [+]
External Debt 2331985.00 2293949.00 2331985.00 521792.00 EUR Million [+]
Terms of Trade 97.30 97.10 138.10 86.10 Index Points [+]
Capital Flows -33300.00 9276.00 14332.00 -33500.00 EUR Million [+]
Tourist Arrivals 2412.80 3330.80 3330.80 254.00 Thousand [+]
Gold Reserves 6.00 6.00 6.00 5.47 Tonnes [+]
Terrorism Index 3.05 3.14 3.66 0.04 [+]
Weapons Sales 13.00 26.00 30.00 1.00 USD Million [+]
Foreign Direct Investment 19711.00 -9079.00 145874.00 -44020.00 EUR Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Ireland Balance of Trade

Ireland posts regular trade surpluses since 1985. In 2017, the trade surplus widened to an all-time high of EUR 45 billion, as both exports and imports were at the highest level on record. The biggest trade surpluses were recorded with the United States, Belgium, Switzerland, the Netherlands and Germany; and the largest deficits were recorded with France and the United Kingdom. This page provides the latest reported value for - Ireland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ireland Balance of Trade - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
6258300.00 6969100.00 6969100.00 -280890.00 1970 - 2019 EUR Thousand Monthly
Current Prices, NSA

Country Last Previous
Argentina 460.00 Feb/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.71 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -4483276.00 Jan/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19