Ireland Balance of Trade  1970-2017 | Data | Chart | Calendar | Forecast

Irish seasonally adjusted trade surplus decreased by 1 percent to €4,018 million in December 2016 from an upwardly revised €4,060 million in the previous month, as exports fell by 6 percent and imports declined by 10 percent, preliminary figures showed. In 2016, the non-seasonally adjusted trade surplus widened sharply to €47.3 billion from €42.3 billion in 2015, as exports jumped 4 percent to a record high of €116.9 billion while imports shrank 0.7 percent to €69.6 billion. Balance of Trade in Ireland averaged 1208075.49 EUR Thousand from 1970 until 2016, reaching an all time high of 5039500 EUR Thousand in October of 2016 and a record low of -294081 EUR Thousand in July of 1981.

Ireland Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-15 11:00 AM Oct €5.09B €3.80B € 3.5B
2017-01-17 11:00 AM Nov €4.05B €5.04B € 4.4B
2017-02-15 11:00 AM Dec €4.02B €4.06B €3.7B
2017-03-21 11:00 AM Jan
2017-04-21 10:00 AM Feb
2017-05-16 10:00 AM Mar




Irish Trade Surplus Narrows 1% MoM In December


Irish seasonally adjusted trade surplus decreased by 1 percent to €4,018 million in December 2016 from an upwardly revised €4,060 million in the previous month, as exports fell by 6 percent and imports declined by 10 percent, preliminary figures showed.

Seasonally adjusted goods exports decreased by €646 million, or 6 percent, to €9,608 million compared with November 2016; and imports also decreased, by €604 million, or 10 percent, to €5,590 million, preliminary figures showed.

Year-on-year, the non-seasonally adjusted value of exports decreased by €415 million, or 5 percent, to €8,836 million, due to lower sales of medical and pharmaceutical products (-16 percent), and office machinery and automatic data processing machines, including computers (-23 percent). Meanwhile, exports of electrical machinery, apparatus and appliances rose 143 percent.

The EU accounted for €4,616 million, or 52 percent, of total goods exports, of which €1,060 million went to the UK and €1,037 million to Belgium. The US was the main non-EU destination accounting for €2,109 million, or 24 percent, of total exports in December 2016. Exports to the EU increased by €36 million, or 1 percent, while exports to the rest of the world decreased by €450 million, or 10 percent. 

Meanwhile, imports went down by €1,449 million, or 21 percent, to €5,545 million compared with December 2015, mainly due to lower purchases of road vehicles (-10 percent), organic chemicals (-43 percent) and medical and pharmaceutical products (-25 percent).

The EU accounted for €3,629, or 65 percent, of the value of goods imports, with €1,421 million, or 26 percent, of total imports coming from the UK. The US with €593 million, or 11 percent, and China with €402 million, or 7 percent, were the main non-EU sources of imports. Imports from the EU decreased by €864 million, or 19 percent and imports from the rest of the world also decreased by €585 million, or 23 percent.

In 2016, the trade surplus widened sharply to €47.3 billion from €42.3 billion in 2015. Exports jumped 4 percent to a record high of €116.9 billion, mainly boosted by sales of electrical machinery, apparatus and appliances (150 percent) and organic chemicals (10 percent). Among major trading partners, exports to the UK decreased by 4 percent and those to EU countries fell 0.3 percent while sales to the US and to the rest of the world rose by 12 percent and by 9 percent, respectively. Meanwhile, imports shrank 0.7 percent to €69.6 billion, dragged by mineral fuels, lubricants and related materials (-27 percent) and machinery specialised for particular industries (-48 percent). Imports from the UK decreased by 8 percent and those from EU countries and from the rest of the world dropped by 1 percent each.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/15/2017 12:11:04 PM



Ireland Trade Last Previous Highest Lowest Unit
Balance of Trade 4017900.00 4059600.00 5039500.00 -294081.00 EUR Thousand [+]
Exports 9607700.00 10253800.00 10820400.00 45054.00 EUR Thousand [+]
Imports 5589800.00 6194200.00 6846400.00 59842.00 EUR Thousand [+]
Current Account 10078.00 4643.00 10078.00 -4784.00 EUR Million [+]
Current Account to GDP 4.90 3.60 4.90 -13.40 percent [+]
External Debt 2037426.00 2100838.00 2226855.00 521792.00 EUR Million [+]
Terms of Trade 103.00 101.80 138.10 86.10 Index Points [+]
Capital Flows -11400.00 -4282.00 13005.00 -11400.00 EUR Million [+]
Tourist Arrivals 2139.30 3061.50 3061.50 254.00 Thousand [+]
Gold Reserves 6.00 6.00 6.00 5.47 Tonnes [+]
Foreign Direct Investment -17020.00 17079.00 129910.00 -17020.00 EUR Million [+]
Terrorism Index 3.43 3.66 3.66 0.04 [+]
Weapons Sales 13.00 26.00 30.00 1.00 USD Million [+]



Ireland Balance of Trade Notes

Ireland posts regular trade surpluses since the late 1980’s. The country is one of the biggest exporters of pharmaceuticals in the world (28 percent of Ireland’s total exports). Other major exports are organic chemicals, data processing equipment and software. Main imports are: electrical machinery and components (16 percent of total imports), fuel (15 percent), motor vehicles (10 percent) and food (10 percent). European Union is by far its largest trading partner, accounting for about 60 percent of total trade. Within the EU, main partners are United Kingdom (16 percent of exports and 34 percent of imports), Germany and France. Other major partners are United States (23 percent of exports and 12 percent of imports) and China. 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
4017900.00 4059600.00 5039500.00 -294081.00 1970 - 2016 EUR Thousand Monthly
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