Ireland Balance of Trade  1970-2016 | Data | Chart | Calendar | Forecast

Irish seasonally adjusted trade surplus decreased by 13 percent to €3,527 million in July 2016 compared to a downwardly revised €4,037 million surplus in the previous month, as both exports and imports fell 11 percent, preliminary figures showed. Year-on-year, the non-seasonally adjusted value of exports went down 3 percent, dragged by lower sales of medical and pharmaceutical products; while imports dropped 13 percent, as imports of petroleum fell sharply. Balance of Trade in Ireland averaged 1183612.84 EUR Thousand from 1970 until 2016, reaching an all time high of 4601100 EUR Thousand in August of 2012 and a record low of -294081 EUR Thousand in July of 1981. Balance of Trade in Ireland is reported by the Central Statistics Office Ireland.

Ireland Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
3526700.00 4036500.00 4601100.00 -294081.00 1970 - 2016 EUR Thousand Monthly
SA
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 September of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-15 10:00 AM May € 4.0B €4.4B € 4.0B
2016-08-15 10:00 AM Jun € 4.5B € 3.7B € 4.1B
2016-09-15 10:00 AM Jul €3.5B € 4.0B € 3.9B
2016-10-14 10:00 AM Aug €3.5B € 3.7B
2016-11-14 11:00 AM Sep € 3.4B
2016-12-14 11:00 AM Oct € 3.5B

Irish Trade Surplus Narrows 13% MoM in July


Irish seasonally adjusted trade surplus decreased by 13 percent to €3,527 million in July 2016 compared to a downwardly revised €4,037 million surplus in the previous month, as both exports and imports fell 11 percent, preliminary figures showed. Year-on-year, the non-seasonally adjusted value of exports went down 3 percent, dragged by lower sales of medical and pharmaceutical products; while imports dropped 13 percent, as imports of petroleum fell sharply.

Seasonally adjusted exports decreased by €1,154 million, or 11 percent, to €8,918 million in July from €10,072 million in June while imports fell by €644 million, or 11 percent, to €5,392 million from €6,036 million, preliminary figures showed.

Year-on-year, the non-seasonally adjusted value of exports went down €292 million, or 3 percent, to €9,121 million, due to lower sales of medical and pharmaceutical products (-23 percent) and essential oils (-12 percent) while exports rose for organic chemicals (+47 percent) and electrical machinery, apparatus and appliances (+202 percent). 

The EU accounted for €4,464 million (49 percent) of total goods exports in July 2016 of which €1,056 million went to Belgium and €1,075 million to Great Britain. The US was the main non-EU destination accounting for €2,144 million (24 percent) of total exports in July 2016. Exports to the EU decreased by 13 percent year-on-year, while non-EU exports increased by 9 percent over the same period.

Meanwhile, imports dropped by €772 million, or 13 percent, to €4,993 million compared with July 2015, mainly due to lower purchases of petroleum (-35 percent); while imports rose for organic chemicals (+70 percent) and medical and pharmaceutical products (+44 percent). 

The EU accounted for 61 percent of the value of goods imports, with €1,206 million (24 percent) of total imports coming from Great Britain. The US with €658 million (13 percent) and China with €338 million (7 percent) were the main non-EU sources of imports. Imports from the EU decreased by 8 percent year-on-year and non-EU imports fell by 20 percent over the same period.

In the first seven months of the year, the trade surplus increased to €27.7 billion from €24.5 billion in the same period of 2015, as exports advanced 3 percent to €65.9 billion while imports contracted 4 percent to €38.2 billion.

CSO | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/15/2016 10:28:50 AM

Ireland Trade Last Previous Highest Lowest Unit
Balance of Trade 3526700.00 4036500.00 4601100.00 -294081.00 EUR Thousand [+]
Exports 8918200.00 10072300.00 10820400.00 45054.00 EUR Thousand [+]
Imports 5391600.00 6035800.00 6420600.00 59842.00 EUR Thousand [+]
Current Account 4643.00 8955.00 8955.00 -4784.00 EUR Million [+]
Current Account to GDP 4.90 3.60 4.90 -13.40 percent [+]
External Debt 2100838.00 2169407.00 2226855.00 521792.00 EUR Million [+]
Terms of Trade 101.20 91.50 138.10 86.10 Index Points [+]
Capital Flows -4282.00 -10325.00 13005.00 -10325.00 EUR Million [+]
Tourist Arrivals 4574.20 3262.20 5001.00 440.00 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 3.66 3.18 3.66 0.04 [+]
Weapons Sales 13.00 26.00 30.00 1.00 USD Million [+]




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