Seasonally adjusted goods exports were €18.1 billion in January 2024, an increase of €2.5 billion compared with December 2023.
Seasonally adjusted goods imports were €9.4 billion in January 2024, resulting in a trade surplus of almost €8.8 billion.
Unadjusted goods exports were €18.9 billion in January 2024, a rise of €3.4 billion compared with January 2023.
Unadjusted goods imports were €9.1 billion, which was €2.4 billion lower than imports in January last year.
| Table A Goods Exports and Imports seasonally adjusted | €million | ||
| Exports | Imports | Surplus | |
| December 2023 | 15,658 | 11,312 | 4,346 |
| January 2024 | 18,150 | 9,385 | 8,764 |
| Value change | 2,492 | -1,927 | 4,418 |
| % change | 15.9 | -17.0 | 101.7 |
Seasonally adjusted goods exports increased by €2,492 million (+16%) to €18,150 million in January 2024 compared with December 2023, according to preliminary figures.
Seasonally adjusted goods imports decreased by €1,927 million (-17%) to €9,385 million leading to an increase of €4,418 million (+102%) in the seasonally adjusted trade surplus to €8,764 million in January 2024 compared with December 2023 (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 | January 2023 - 2024 | ||||
| 2023 | 2024 | Value change | % change | ||
| Exports | |||||
| Total | 15,497 | 18,923 | 3,425 | 22 | |
| Great Britain | 1,336 | 1,543 | 207 | 16 | |
| Northern Ireland | 385 | 376 | -9 | -2 | |
| EU27 | 7,002 | 7,000 | -2 | 0 | |
| USA | 3,850 | 6,637 | 2,787 | 72 | |
| Rest of World | 2,925 | 3,367 | 442 | 15 | |
| Imports | |||||
| Total | 11,505 | 9,087 | -2,418 | -21 | |
| Great Britain | 2,519 | 1,265 | -1,254 | -50 | |
| Northern Ireland | 435 | 357 | -78 | -18 | |
| EU27 | 2,881 | 3,002 | 120 | 4 | |
| USA | 1,815 | 1,368 | -446 | -25 | |
| Rest of World | 3,855 | 3,094 | -761 | -20 | |
The (unadjusted) value of goods exports grew by €3,425 million (+22%) to €18,923 million in January 2024 compared with January 2023.
The (unadjusted) value of goods imports fell by €2,418 million (-21%) to €9,087 million in January 2024 compared with January 2023.
Exports to Great Britain were €1,543 million, which was 8% of total exports in January 2024. The products accounting for the largest share of exports were Chemicals & Related Products, at €630 million and Food & Live Animals at €307 million.
Imports from Great Britain in January 2024 were €1,265 million, which was 14% of the total value of imports. Imports of Mineral Fuels accounted for €267 million, and imports of Machinery & Transport Equipment were valued at €258 million (see Table 5).
The EU accounted for €7,000 million (37%) of total goods exports in January 2024, of which €2,031 million went to Germany, €1,807 million went to the Netherlands and €1,176 million went to Belgium.
The USA was the main non-EU destination accounting for €6,637 million (35%) of total exports in January 2024 (see Table 4).
| X-axis label | EU 27 | Rest of World | UK | US |
|---|---|---|---|---|
| Feb 2022 | 6.30266338054554 | 3.34921348 | 1.39027186944102 | 4.825347098 |
| 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 | 6.16171303872621 | 3.196161201 | 1.7155097587286 | 5.107306858 |
| 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 | 6.99958553386211 | 3.36706991211999 | 1.91923886094575 | 6.637059903 |
| X-axis label | EU 27 | Rest of World | UK | US |
|---|---|---|---|---|
| Feb 2022 | 2.79170509949076 | 2.90574911702911 | 1.9362272411329 | 1.43438147581768 |
| 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 | 3.03482120751397 | 3.18939540963543 | 2.28112259396132 | 1.38263483011316 |
| Sep 2023 | 3.42098773414742 | 3.38908147191301 | 2.21339077622132 | 3.03248267422309 |
| Oct 2023 | 3.51513519984257 | 3.62341411589095 | 1.97149868038394 | 2.30643603199226 |
| Nov 2023 | 4.60451731456051 | 4.32791693574278 | 2.1715636533203 | 2.30643603199226 |
| Dec 2023 | 4.53561613849351 | 3.40790853346218 | 1.50254254362204 | 2.30643603199226 |
| Jan 2024 | 3.00163378928402 | 3.09411955713952 | 1.62273408891031 | 1.36843395015141 |
Exports of Medical & Pharmaceutical Products increased by €2,908 million (+48%) to €8,993 million in January 2024 compared with January 2023. This represented 48% of total exports.
Exports of Electrical Machinery, Apparatus & Appliances grew by €125 million (+18%) to €805 million.
Exports of Professional, Scientific & Controlling Apparatus grew by €141 million (+19%) to €890 million (see Table 3).
Imports of Mineral Fuels, Lubricants & Related Products decreased by €907 million (-56%) to €720 million in January 2024 compared with January 2023.
Imports of Organic Chemicals fell by €597 million (-40%) to €905 million.
Imports of Machinery Specialised for Particular Industries fell by €110 million (-23%) to €363 million (see Table 3).
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Statistician's Comment
The Central Statistics Office (CSO) has today (15 March 2024) released Goods Exports and Imports January 2024.
Commenting on the release, Ciarán Counihan, Statistician in the International Trade in Goods Division said “Ireland recorded a trade surplus of €8.8 billion in January of this year. The increase in the surplus is due to a combination of increased exports and reduced imports. The largest increase in exports was due to pharmaceuticals, and the largest reduction in imports was seen in fuels.
Ireland’s unadjusted exports of goods rose by €3.4 billion to €18.9 billion compared with January 2023. When seasonally adjusted, exports of goods grew by €2.5 billion compared with December 2023.
The unadjusted imports for January 2024 were valued at €9.1 billion, a fall of €2.4 billion on January 2023. Seasonally adjusted imports were €9.4 billion in January 2024.
Imports from Great Britain fell by 50% to €1.3 billion in January 2024 compared with January 2023. The largest decrease was in the imports of Mineral Fuels & Lubricants. Exports to Great Britain were up by €200 million in January 2024 compared with January 2023.”