Ireland’s trade surplus narrowed to EUR 7.6 billion in March of 2023 from the two-year high of EUR 8.2 billion in the corresponding month of the previous year. Exports dropped by 7% from the previous year to EUR 18.83 billion, amid considerable declines for medical and pharmaceutical products (-22% to EUR 7.2 billion) and electrical machinery, apparatus, and appliances (-27% to EUR 0.9 billion). Sales dropped to the United States (-24%) and the rest of the world (-7%), while exports to Great Britain increased (25%). In the meantime, imports also dropped by 7% to EUR 11.19 billion, pressured by lower purchases for organic chemicals (-13% to EUR 1.6 billion) and mineral fuels, lubricants, and related materials (-27% to EUR 0.7 billion) due to lower fertilizer and energy prices worldwide. Imports fell from the United States (-32%), Great Britain (-24%), and the rest of the world (-49%), while purchases from the EU (75%) were considerably higher. source: Central Statistics Office Ireland
Balance of Trade in Ireland averaged 1644935.99 EUR Thousand from 1970 until 2023, reaching an all time high of 10997370.00 EUR Thousand in March of 2020 and a record low of -280890.00 EUR Thousand in January of 1982. 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 - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Balance of Trade in Ireland is expected to be 3970000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ireland Balance of Trade is projected to trend around 6500000.00 EUR Thousand in 2024 and 8000000.00 EUR Thousand in 2025, according to our econometric models.