Unadjusted goods exports were €15.9 billion in February 2024, a decrease of over €700 million compared with February last year.
Unadjusted goods imports were €10 billion, which was more than €1.1 billion lower than imports in February 2023.
Seasonally adjusted goods exports were €17.6 billion in February 2024, down almost €500 million compared with January 2024.
Seasonally adjusted goods imports were €10.4 billion in February 2024.
Imports from Great Britain were €1.4 billion in February 2024, while exports to Great Britain were €1.2 billion.
Table A Goods Exports and Imports seasonally adjusted | €million | ||
Exports | Imports | Surplus | |
January 2024 | 18,058 | 9,683 | 8,375 |
February 2024 | 17,591 | 10,393 | 7,198 |
Value change | -467 | 710 | -1,177 |
% change | -3.0 | 7.0 | -14.0 |
Seasonally adjusted goods exports fell by €467 million (-3%) to €17,591 million in February 2024 compared with January 2024, according to preliminary figures.
Seasonally adjusted goods imports increased by €710 million (+7%) to €10,393 million leading to a decrease of €1,177 million (-14%) in the seasonally adjusted trade surplus to €7,198 million in February 2024 compared with January 2024 (See Table 2). Seasonal adjustment compares month-to-month data by removing fluctuations that may occur due to seasonal patterns in trade.
Table B Share of Goods Exports and Imports by region | €million | |||||||||
Unadjusted | February 2023 - 2024 | January - February 2023 - 2024 | ||||||||
2023 | 2024 | Value change | % change | 2023 | 2024 | Value change | % change | |||
Exports | ||||||||||
Total | 16,714 | 15,936 | -777 | -5 | 32,211 | 34,748 | 2,536 | 8 | ||
Great Britain | 1,274 | 1,207 | -67 | -5 | 2,610 | 2,719 | 109 | 4 | ||
Northern Ireland | 396 | 402 | 6 | 2 | 781 | 792 | 11 | 1 | ||
EU27 | 7,430 | 7,151 | -279 | -4 | 14,431 | 14,247 | -184 | -1 | ||
USA | 4,160 | 4,217 | 57 | 1 | 8,010 | 10,677 | 2,667 | 33 | ||
Rest of World | 3,454 | 2,960 | -494 | -14 | 6,379 | 6,312 | -67 | -1 | ||
Imports | ||||||||||
Total | 11,159 | 10,023 | -1,136 | -10 | 22,664 | 19,442 | -3,222 | -14 | ||
Great Britain | 2,133 | 1,401 | -733 | -34 | 4,652 | 2,667 | -1,985 | -43 | ||
Northern Ireland | 394 | 533 | 138 | 35 | 830 | 926 | 97 | 12 | ||
EU27 | 3,711 | 3,819 | 108 | 3 | 6,592 | 7,016 | 424 | 6 | ||
USA | 1,686 | 1,504 | -182 | -11 | 3,501 | 2,876 | -625 | -18 | ||
Rest of World | 3,235 | 2,767 | -468 | -14 | 7,090 | 5,957 | -1,132 | -16 |
The (unadjusted) value of goods exports fell by €777 million (-5%) to €15,936 million in February 2024 compared with February 2023. The value of goods exports for the period January to February 2024 grew by €2,536 million (+8%) to €34,748 million, when compared with the same period of 2023.
The (unadjusted) value of goods imports decreased by €1,136 million (-10%) to €10,023 million in February 2024 compared with February 2023. The value of goods imports for the first two months of 2024 fell by €3,222 million (-14%) to €19,442 million, when compared with the same period of 2023.
Exports to Great Britain were €1,207 million, which was 8% of total exports in February 2024. The products which accounted for the largest share of exports were Chemicals & Related Products at €318 million and Food & Live Animals with €310 million.
Imports from Great Britain in February 2024 were €1,401 million, which was 14% of the total value of imports. Imports of Mineral Fuels, Lubricants & Related Products were valued at €294 million imports of Machinery & Transport Equipment were €281 million and imports of Chemicals & Related Products accounted for €240 million. (See Table 5).
The EU accounted for €7,151 million (45%) of total goods exports in February 2024, of which €2,073 million went to the Netherlands, €1,699 million went to Germany and €1,014 million went to Belgium.
The USA was the main non-EU destination accounting for €4,217 million (26%) of total exports in February 2024 (See Table 4).
X-axis label | EU 27 | Rest of World | UK | US |
---|---|---|---|---|
Mar 2022 | 7.03146794756404 | 4.00169138399999 | 1.83317511357736 | 7.400502251 |
Apr 2022 | 6.42002674605994 | 3.360673459 | 1.93709378628622 | 5.490089082 |
May 2022 | 6.2983702194085 | 4.39532270599999 | 1.83022262751538 | 5.390377409 |
Jun 2022 | 6.34773818352154 | 3.868853871 | 2.40887348009257 | 5.086599753 |
Jul 2022 | 6.252539648654 | 3.33823685399999 | 1.57029484440219 | 3.745679746 |
Aug 2022 | 8.5505963467939 | 3.623791805 | 1.92626849533277 | 5.286338789 |
Sep 2022 | 7.59441998675093 | 4.085435417 | 1.84991809025405 | 5.904198153 |
Oct 2022 | 6.58696172223077 | 3.591441143 | 2.08060789733065 | 5.306523683 |
Nov 2022 | 6.88716979415636 | 3.18847492199999 | 2.0230150332706 | 5.032571309 |
Dec 2022 | 5.99495427339276 | 3.109313866 | 1.59205177242982 | 4.433765332 |
Jan 2023 | 7.00166929718193 | 2.92517220399999 | 1.7209164793019 | 3.849700567 |
Feb 2023 | 7.42978453362456 | 3.45412363200001 | 1.66987909018109 | 4.160032732 |
Mar 2023 | 7.22757806925556 | 3.76719638199999 | 2.12421141690795 | 5.6191061 |
Apr 2023 | 6.51781193049492 | 2.91226385300001 | 1.58551572378062 | 4.155685568 |
May 2023 | 6.93597110225951 | 3.53304737500002 | 2.06231359049922 | 4.093419028 |
Jun 2023 | 6.73918999299196 | 3.238329714 | 2.74841906843818 | 5.694475768 |
Jul 2023 | 6.5714152812016 | 2.83526778300001 | 2.18257702962032 | 4.033586402 |
Aug 2023 | 6.15102668919328 | 3.116574302 | 1.69275244089181 | 5.048801198 |
Sep 2023 | 7.08986143398138 | 2.987962531 | 1.60411600701267 | 4.33656717 |
Oct 2023 | 7.60752099262603 | 3.426367506 | 1.63051131012241 | 4.878499338 |
Nov 2023 | 6.80117674795935 | 3.423425428 | 2.18914185748906 | 4.193145893 |
Dec 2023 | 5.11607332988393 | 3.085495526 | 1.24759361678862 | 4.284592452 |
Jan 2024 | 7.09661644501684 | 3.35165294603999 | 1.9026045013976 | 6.460237898 |
Feb 2024 | 7.15052182562671 | 2.96047511 | 1.60841805110593 | 4.216990123 |
X-axis label | EU 27 | Rest of World | UK | US |
---|---|---|---|---|
Mar 2022 | 3.14827285263081 | 4.14074180141705 | 2.38788087199404 | 2.33093602471201 |
Apr 2022 | 3.50820880534995 | 3.47566700004536 | 2.42535617848881 | 1.87450129891659 |
May 2022 | 3.63431123344235 | 5.04974529734677 | 2.39913877867239 | 2.18781775376064 |
Jun 2022 | 3.70567560725347 | 4.64475699263232 | 2.60061488293834 | 1.87929043009657 |
Jul 2022 | 3.13287526703743 | 3.97767827704352 | 2.28953937000186 | 1.30211393590302 |
Aug 2022 | 3.22470655490728 | 4.42266596614623 | 2.71722647683728 | 2.10920545319726 |
Sep 2022 | 4.18791765441382 | 3.65020618602282 | 2.51928762735894 | 2.44974277170222 |
Oct 2022 | 4.10630401530525 | 3.42453851520585 | 3.17778865553939 | 1.79897633135657 |
Nov 2022 | 4.01826956910247 | 3.81420263511006 | 2.46985495786996 | 1.82583888094956 |
Dec 2022 | 4.53533522838145 | 3.87919934498645 | 2.35469298147492 | 1.80623668992089 |
Jan 2023 | 2.88128591209521 | 3.85484855996731 | 2.95404147862947 | 1.81484609051063 |
Feb 2023 | 3.71055878151335 | 3.23485258166375 | 2.52779149987961 | 1.68600377733813 |
Mar 2023 | 5.17418205576562 | 2.70981209370352 | 2.14894222506542 | 1.85297748577796 |
Apr 2023 | 3.64331353534981 | 3.46314868868828 | 2.29139474153317 | 1.41027558021653 |
May 2023 | 4.45428760942382 | 4.27891724580067 | 1.94938450868741 | 1.84648065909634 |
Jun 2023 | 5.01171830946167 | 3.42564837046959 | 2.16076601350301 | 2.07012732566615 |
Jul 2023 | 3.72106131619383 | 3.50939695008623 | 2.07422831521297 | 1.53445947815736 |
Aug 2023 | 3.1774585764123 | 3.19502890739246 | 2.27015848479361 | 1.711615391636 |
Sep 2023 | 3.42098773414742 | 3.38908147191301 | 2.21339077622132 | 2.30643603199226 |
Oct 2023 | 3.51513519984257 | 3.62341411589095 | 1.97149868038394 | 1.37221136404805 |
Nov 2023 | 4.60451731456051 | 4.32791693574278 | 2.1715636533203 | 1.37221136404805 |
Dec 2023 | 4.53561613849351 | 3.40790853346218 | 1.50254254362204 | 1.37221136404805 |
Jan 2024 | 3.19665823535661 | 3.19064155061769 | 1.65948123764835 | 1.37221136404805 |
Feb 2024 | 3.81901258836965 | 2.76662239694455 | 1.93373137120872 | 1.50400572951246 |
Exports of Medical & Pharmaceutical Products increased by €843 million (+15%) to €6,451 million in February 2024 compared with February 2023. This represented 40% of total exports.
Exports of Organic Chemicals fell by €1,400 million (-38%) to €2,269 million.
Exports of Professional, Scientific & Controlling Apparatus grew by €54 million (+7%) to €830 million. (See Table 3).
Imports of Organic Chemicals were down by €424 million (-27%) to €1,135 million in February 2024 compared with February 2023.
Imports of Other Transport Equipment (Including Aircraft) decreased by €793 million (-56%) to €612 million.
Imports of Mineral Fuels, Lubricants & Related Products decreased by €195 million (-20%) to €757 million.
Imports of Office Machines & Automatic Data Processing Machines increased by €102 million (+29%) to €453 million.
The value of goods imports for February 2024 excluding SITC 79 (Other Transport Equipment, Including Aircraft) fell by €343 million (-4%) to €9,412 million, compared with the corresponding February 2023 figure of €9,755 million (See Table 3).
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Statistician's Comment
The Central Statistics Office (CSO) has today (16 April 2024) released Goods Exports and Imports February 2024.
Commenting on the release, Ciarán Counihan, Statistician in the International Trade in Goods Division said:“In February 2024, Ireland’s unadjusted exports of goods decreased by more than €700 million to €15.9 billion compared with February 2023. When seasonally adjusted, exports of goods fell by €500 million compared with January 2024.
The unadjusted imports for February 2024 were valued at €10 billion, down €1.1 billion on February 2023. Seasonally adjusted imports were €10.4 billion in February 2024.
Comparing the first two months of 2024 with the same period in 2023, exports of goods were 8% higher, and the value of imports dropped by 14%. Exports for January and February 2024 were almost €35 billion.
Imports from Great Britain fell by 34% to €1.4 billion in February 2024 compared with February 2023, and the largest falls were in the imports of Chemicals & Related products and Mineral Fuels, Lubricants & Related Products.
Exports to Great Britain were down by 5% to €1.2 billion in February 2024 from February 2023.”