Ireland's trade surplus widened to EUR 6.72 billion in May 2019 from EUR 4.89 billion in the corresponding month of the previous year, remaining close to January's all-time high. Exports rose 14 percent while imports dropped 2 percent. Balance of Trade in Ireland averaged 1345311.47 EUR Thousand from 1970 until 2019, reaching an all time high of 6842400 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 5200000.00 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
2019-04-16 10:00 AM Balance of Trade Feb €6.3B €7B €3.4B
2019-05-15 10:00 AM Balance of Trade Mar €4.5B €6.1B €6.2B
2019-06-14 10:00 AM Balance of Trade Apr €5.5B €4.4B €4.0B
2019-07-15 10:00 AM Balance of Trade May €6.7B €5.5B €4.2B
2019-08-15 10:00 AM Balance of Trade Jun €6.7B € 4.9B
2019-09-16 10:00 AM Balance of Trade Jul €2.8B
2019-10-15 10:00 AM Balance of Trade Aug €3.7B

Irish Trade Surplus at Near Record High

Ireland's trade surplus widened to EUR 6.72 billion in May 2019 from EUR 4.89 billion in the corresponding month of the previous year, remaining close to January's all-time high.

Exports grew 14 percent from a year earlier to EUR 13.52 billion in May, boosted by sales of organic chemicals (98 percent), electrical machinery, apparatus and appliances (86 percent), and professional, scientific and controlling apparatus (23 percent). By contrast, exports of medical and pharmaceutical products slumped 19 percent.

The EU accounted for EUR 6.79 billion, or 50 percent, of total goods exports in May of which EUR 1.52 billion went to Germany and EUR 1.43 billion was exported to Belgium. Total EU exports in May rose EUR 1.03 billion, or 18 percent from a year earlier, with exports to Great Britain increasing EUR 52 million, or 4 percent, to EUR 1.25 billion. The US was the main non-EU destination accounting for EUR 3.73 billion, or 28 percent, of total exports in May.

Meanwhile, imports were down 2 percent to EUR 6.80 billion, mainly due to lower purchases of other transport equipment, including aircraft (-37 percent); while gains were reported in imports of office machines and automatic data processing machines (60 percent) and organic chemicals (83 percent).

The EU accounted for EUR 4.33 billion, or 64 percent, of total goods imports in May, which is an increase of EUR 48 million, or 1 percent, compared with May 2018. Imports from Great Britain decreased EUR 65 million, or 4 percent, to EUR 1.48 billion. Imports from Great Britain were 22 percent of the value of total imports in May. The US with EUR 696 million, or 10 percent, and China with EUR 406 million, or 6 percent, were the main non-EU sources of imports.

Considering the first five months of the year, the trade surplus widened sharply to EUR 29.64 billion from EUR 23.04 billion in the same period of 2018.

CSO | Joana Ferreira |
7/15/2019 10:26:50 AM

Ireland Trade Last Previous Highest Lowest Unit
Balance of Trade 6717100.00 5497400.00 6842400.00 -280890.00 EUR Thousand [+]
Current Account 10990.00 979.00 14395.00 -31759.00 EUR Million [+]
Current Account to GDP 9.10 8.50 9.10 -13.40 percent [+]
Imports 6804000.00 7185400.00 8985700.00 62344.00 EUR Thousand [+]
Exports 13521000.00 12682700.00 13615700.00 44885.00 EUR Thousand [+]
External Debt 2331985.00 2293949.00 2331985.00 521792.00 EUR Million [+]
Terms of Trade 103.90 109.80 138.10 86.10 Index Points [+]
Capital Flows 4932.00 -93013.00 17417.00 -93013.00 EUR Million [+]
Tourist Arrivals 2026.70 2412.80 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 [+]
Foreign Direct Investment 5281.00 43475.00 145874.00 -44687.00 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
6717100.00 5497400.00 6842400.00 -280890.00 1970 - 2019 EUR Thousand Monthly
Current Prices, NSA

Country Last Previous
Argentina 1373.00 May/19
Australia 5745.00 May/19
Brazil 5020.00 Jun/19
Canada 762.30 May/19
China 509.76 Jun/19
Euro Area 23033.60 May/19
France -3278.00 May/19
Germany 20600.00 May/19
India -15280.00 Jun/19
Indonesia 196.00 Jun/19
Italy 5347.00 May/19
Japan 589.46 Jun/19
Mexico 1030.71 May/19
Netherlands 5579.00 May/19
Russia 11823.00 May/19
Saudi Arabia 131636.00 Mar/19
Singapore 2447.29 Jun/19
South Africa 1737.21 May/19
South Korea 4168.00 Jun/19
Spain -1605300.00 Apr/19
Switzerland 3251.00 Jun/19
Turkey -1837.83 May/19
United Kingdom -2324.00 May/19
United States -55520.00 May/19