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Rise in exports of pharmaceuticals drove €12.2 billion goods trade surplus in January 2025

Online ISSN: 2009-5155
CSO statistical release, , 11am

Key Findings

  • In the first month of the year, seasonally adjusted trade exports in goods grew by €4.8 billion (+26.4%) to €23 billion compared with December 2024.

  • Seasonally adjusted goods imports fell by €290.2 million (-2.6%) to €10.8 billion when compared with December 2024, resulting in a trade surplus of €12.2 billion.

  • Unadjusted goods exports were €24.2 billion in January 2025, an increase of €5.3 billion (+28.2%) compared with January 2024.

  • Unadjusted goods imports rose by €810.6 million (+8.4%) to €10.5 billion in January 2025.

  • Both imports and exports of Medical & Pharmaceutical Products rose in January 2025 compared with January 2024, with exports increasing by €6 billion (+68%) to €14.8 billion and imports rising by €730.7 million (+72.3%) to €1.7 billion.

  • The US was both the largest goods export and goods import market for Ireland in January 2025, accounting for 48.4% of total goods exports and 19.7% of total goods imports.

Statistician's Comment

The Central Statistics Office (CSO) has today (18 March 2025) published Goods Exports and Imports January 2025.

Commenting on the release, Jane Burmanje, Statistician in the International Trade in Goods Division said: “Ireland recorded a surplus in goods trade of €12.2 billion in January this year. The increase in the goods trade surplus was driven by a rise in exports, particularly the export of pharmaceuticals.

The unadjusted value of goods exports rose by €5.3 billion (+28.2%) to €24.2 billion compared with January 2024 (€18.9 billion). When seasonally adjusted, exports of goods grew by €4.8 billion (+26.4%) to €23 billion in January 2025 compared with December 2024.

The unadjusted value of goods imports in January 2025 increased by €810.6 million (+8.4%) to €10.5 billion compared with €9.7 billion in January 2024. Seasonally adjusted imports were €10.8 billion in January 2025.

Exports of Medical & Pharmaceutical Products, which accounted for 61% of total exports in January 2025, grew by 68% (€6 billion) from €8.8 billion to €14.8 billion.

Exports of goods to the United States were €11.7 billion in January 2025, accounting for 48.4% of total good exports, while imports of goods from the US were €2.1 billion, representing 19.7% of total imports, making it the largest market for Ireland in this period.”

Headline Table

Table A Goods Exports and Imports seasonally adjusted €million
 ExportsImportsSurplus
December 202418,19911,0957,104
January 202523,00810,80512,203
Value change4,809-2905,099
% change26.4-2.671.8

Seasonally adjusted goods trade exports increased by €4.8 billion in January 2025

Seasonally adjusted goods exports increased by €4.8 billion (+26.4%) to €23 billion in January 2025 compared to December 2024 (€18.2 billion), according to preliminary figures.

Seasonally adjusted goods imports fell by €290.2 million (-2.6%) to €10.8 billion in January 2025 leading to an increase of €5.1 billion (+71.8%) in the seasonally adjusted trade surplus to €12.2 billion compared with December 2024 (€7.1 billion) (See Table 2). Seasonal adjustment compares month-to-month data by removing fluctuations that may occur due to seasonal patterns in trade.

Figure 1 Goods Exports and Imports January 2025 Seasonally Adjusted

© Central Statistics Office, Ireland
https://data.cso.ie/table/TSM01

Exports and Imports

The (unadjusted) value of goods exports increased by €5.3 billion (+28.2%) to €24.2 billion in January 2025 compared with January 2024 (€18.9 billion).

The (unadjusted) value of goods imports rose by €810.6 million (+8.4%) to €10.5 billion in January 2025 compared with January 2024 (€9.7 billion).

The (unadjusted) surplus for January 2025 was €13.8 billion, an increase of €4.5 billion (+48.9%) compared to January 2024 (€9.2 billion).

Table 1 Goods Exports and Imports summary analysis

Table 2 Goods Exports and Imports seasonally adjusted series

Table B Share of Goods Exports and Imports by region€million
UnadjustedJanuary 2024 - 2025
20242025Value change% change
Exports    
Total18,91324,2465,33328
Great Britain1,5371,195-342-22
Northern Ireland423410-13-3
EU277,0907,85776711
USA6,47111,7385,26781
Rest of World3,3923,047-346-10
    
Imports    
Total9,67010,4808118
Great Britain1,2681,3861179
Northern Ireland385362-23-6
EU273,2833,190-93-3
USA1,5552,06350933
 Rest of World3,1783,4793019

Exports and imports by region

Exports to Great Britain decreased by €341.9 million (-22.3%) to €1.2 billion in January 2025 compared to January 2024 (€1.5 billion). Exports to Great Britain accounted for 4.9% of total export goods trade in January 2025.

The products which accounted for the largest share of export goods to Great Britian were Food & Live Animals at €335.08 million, and Machinery & Transport Equipment at €289.23 million, representing 28% and 24.2% of total exports to Great Britain in January 2025.

Imports from Great Britain increased by €117.2 million (+9.2%) to €1.4 billion in January 2025 compared to January 2024 (€1.3 billion). Imports from Great Britain accounted for 13.2% of total import goods trade in January 2025.

The products which accounted for the largest share of import goods were Mineral fuels, Lubricants & Related Materials at €345.9 million, and Machinery & Transport Equipment at €248.24 million, representing 25% and 17.9% of total imports from Great Britain in January 2025.

Exports to the EU rose by €766.9 million (+10.8%) to €7.9 billion in January 2025 compared to January 2024 (€7.1 billion). Of the €7.9 billion, €1.8 billion went to the Netherlands, €1.7 billion went to Belgium and €1.2 billion to Germany. Exports to the EU accounted for 32.4% of total export goods trade in January 2025.

Imports from the EU fell by €93.2 million (-2.8%) to €3.2 billion in January 2025 compared to January 2024 (€3.3 billion). Imports from the EU accounted for 30.4% of total import goods trade in January 2025.

Exports to the US increased by €5.3 billion (+81.4%) to €11.7 billion in January 2025 compared to January 2024 (€6.5 billion). Exports to the US accounted for 48.4% of total export goods trade in January 2025.

Imports from the US increased by €508.9 million (+32.7%) to €2.1 billion in January 2025 compared to January 2024 (€1.6 billion). Imports from the US accounted for 19.7% of total import goods trade in January 2025.

X-axis labelEU 27Rest of WorldUKUS
Jan 20237.001669297181862.925172203999991.72091647930193.849700567
Feb 20237.429784533624563.454123632000011.669879090181094.160032732
Mar 20237.227578069255563.767196381999992.124211416907955.6191061
Apr 20236.517811930494922.912263853000011.585515723780624.155685568
May 20236.913105355201243.533047375000022.061473543399164.093419028
Jun 20236.695583300999113.2383297142.74425168211655.694475768
Jul 20236.571809887288022.835267783000012.186928514940054.033586402
Aug 20236.176559466383193.1165743021.694344645990535.118801198
Sep 20237.14323347808052.9036433211.563171753633874.236656503
Oct 20237.633394342493223.404849621999991.644631242069274.829457856
Nov 20236.716957479259713.2095200982.168085549757713.978017765
Dec 20235.152778320905533.109410465000011.242910461023494.264824889
Jan 20247.090033728673793.392077415459991.959255617521016.471491266
Feb 20247.218039357626762.953156122941.609060281336234.15682019
Mar 20246.997393383890184.787526812969992.257317787146625.134415339
Apr 20247.520541651271263.580162343161.757930291389396.555017232
May 20247.136185801048623.464724213379991.767562791667325.670432186
Jun 20246.239374569274083.266272586399991.531750601425645.689849047
Jul 20247.401470635156093.792648836290011.676586775701545.282349015
Aug 20246.105454859102042.928899730961.610746062858496.66028139
Sep 202410.61092611241273.311958995200011.605828220091956.951056772
Oct 20249.145597391342533.418751011051.863303471974336.848173797
Nov 20247.583245570148033.610217025491.796897445003988.12405811
Dec 20245.740281205443833.351217928131.431749904094135.624307086
Jan 20257.856894102755333.0465036931.6047072766818711.738142656
FALSE
X-axis labelEU 27Rest of WorldUKUS
Jan 20232.881285912095423.854848559967332.954041478629491.81484609051063
Feb 20233.710558781513353.234852581663752.527791499879611.68600377733813
Mar 20235.174182055765622.709812093703522.148942225065421.85297748577796
Apr 20233.643313535349813.463148688688282.291394741533171.41027558021653
May 20234.333029250514844.277548380661531.946192282183851.76135485548631
Jun 20234.859063075780753.409744130513032.160265803063572.03181837988862
Jul 20233.769479733486143.497769887342612.092835254470071.53456855119574
Aug 20233.185109012240843.201530133127212.288889916756921.63142817341011
Sep 20233.492446015224923.37157058973992.21383634751852.18538453939873
Oct 20234.241083938697883.624892786270321.975457499593231.69124266706696
Nov 20234.515169334765744.444521175278592.19625960703933.04034378656237
Dec 20234.662433952362523.458496226080411.533754004470742.30869845012033
Jan 20243.283266014724443.178184314237351.653840340209851.55450771668209
Feb 20243.906152513235842.770694771737771.931551845869161.65048803014935
Mar 20244.998074496986152.867229561670131.888948830511992.05632607368043
Apr 20243.674929591095563.655395295241221.657219246468561.78420807255153
May 20243.773003489703833.158185850447251.924750815364292.18520060186128
Jun 20244.624085189091242.968195855057791.962016997096312.04857722202298
Jul 20244.470916324002583.452162440904691.698375252842482.47586070067305
Aug 20243.915809845060943.308558417031631.938252724284552.28928220441781
Sep 20243.433692849704783.622339156003091.729377509856681.94838107611055
Oct 20244.225014821370913.44827354614892.044411691660731.5417051335635
Nov 20244.447372404751253.947186130163541.852191440807271.65708493985926
Dec 20244.536388824850183.793372103077511.690627426930251.79625155506807
Jan 20253.190030613512683.478744009562511.748060336063792.06341484609543

Exports by product

Exports of Medical & Pharmaceutical Products increased by €6 billion (+68%) to €14.8 billion in January 2025 compared with January 2024 (€8.8 billion). This represented 61% of total exports in January 2025.

Exports of Organic Chemicals decreased by €1 billion (-38.3%) from €2.7 billion in January 2024 to €1.6 billion in January 2025.

Exports of Office Machines & Automatic Data Processing Machines rose by €291 million (+78.5%) to €661 billion. (See Table 3).

Figure 4 Exports by product January 2024 - January 2025

© Central Statistics Office, Ireland
https://data.cso.ie/table/TSM06

Imports by product

Imports of Office Machines & Automatic Data Processing Machines grew by €329.2 million (+82.9%) to €726.2 million in January 2025 compared with January 2024 (€396.9 million).

Imports of Organic Chemicals were down by €265 million (-29.4%) to €635.3 million.

Imports of Medical & Pharmaceutical Products increased by €730.7 million (+72.3%) to €1.7 billion in January 2025 (See Table 3). Medical & Pharmaceutical Products accounted for 16.6% of total imports in January 2025.

Figure 5 Imports by product January 2024 - January 2025

© Central Statistics Office, Ireland
https://data.cso.ie/table/TSM06

Table 3 Goods Exports and Imports classified by commodity

Table 4 Goods Exports and Imports classified by countries and territories

Table 5 Goods Exports and Imports classified by commodity and principal countries

Table 6 Goods Exports by industrial origin and area of destination

Table 7 Goods Imports by main use and area of origin

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