Unadjusted goods exports were €18.8 billion in March 2023, a decrease of €1.4 billion compared with March last year.
Unadjusted goods imports were €11.2 billion, which was more than €800 million lower than imports in March 2022.
Seasonally adjusted goods exports were €16.9 billion in March 2023, a decline of over €500 million compared with February 2023.
Seasonally adjusted goods imports were €10.3 billion in March 2023.
Imports from Great Britain were €1.5 billion in March 2023, while exports to Great Britain were €1.8 billion.
Table A Goods Exports and Imports seasonally adjusted | €million | ||
Exports | Imports | Surplus | |
February 2023 | 17,400 | 12,964 | 4,435 |
March 2023 | 16,886 | 10,323 | 6,563 |
Value change | -514 | -2,641 | 2,127 |
% change | -3.0 | -20.4 | 48.0 |
Seasonally adjusted goods exports fell by €514 million (-3%) to €16,886 million in March 2023 compared with February 2023, according to preliminary figures.
Seasonally adjusted goods imports dropped by €2,641 million (-20%) to €10,323 million leading to an increase of €2,127 million (+48%) in the seasonally adjusted trade surplus to €6,563 million in March 2023 compared with February 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 | March 2022 - 2023 | January - March 2022 - 2023 | ||||||||
2022 | 2023 | Value change | % change | 2022 | 2023 | Value change | % change | |||
Exports | ||||||||||
Total | 20,267 | 18,830 | -1,437 | -7 | 52,203 | 50,868 | -1,335 | -3 | ||
Great Britain | 1,408 | 1,758 | 350 | 25 | 3,838 | 4,362 | 524 | 14 | ||
Northern Ireland | 423 | 422 | -1 | 0 | 1,129 | 1,160 | 31 | 3 | ||
EU27 | 7,033 | 7,296 | 263 | 4 | 19,618 | 21,737 | 2,119 | 11 | ||
USA | 7,401 | 5,645 | -1,755 | -24 | 17,471 | 13,603 | -3,868 | -22 | ||
Rest of World | 4,002 | 3,707 | -294 | -7 | 10,148 | 10,007 | -141 | -1 | ||
Imports | ||||||||||
Total | 12,032 | 11,186 | -846 | -7 | 30,494 | 33,402 | 2,907 | 10 | ||
Great Britain | 1,914 | 1,459 | -454 | -24 | 5,222 | 5,931 | 709 | 14 | ||
Northern Ireland | 465 | 463 | -3 | -1 | 1,213 | 1,288 | 75 | 6 | ||
EU27 | 3,181 | 5,562 | 2,381 | 75 | 8,670 | 12,530 | 3,860 | 45 | ||
USA | 2,331 | 1,578 | -753 | -32 | 5,082 | 4,827 | -254 | -5 | ||
Rest of World | 4,141 | 2,124 | -2,017 | -49 | 10,308 | 8,825 | -1,483 | -14 |
The (unadjusted) value of goods exports fell by €1,437 million (-7%) to €18,830 million in March 2023 compared with March 2022. The value of goods exports for the period January to March 2023 was down by €1,335 million (-3%) to €50,868 million, when compared with the same period of 2022.
The (unadjusted) value of goods imports decreased by €846 million (-7%) to €11,186 million in March 2023 compared with March 2022. The value of goods imports for the first quarter of 2023 increased by €2,907 million (+10%) to €33,402 million, when compared with the same period of 2022.
Exports to Great Britain were €1,758 million, which was 9% of total exports in March 2023. The products which accounted for the largest share of exports were Chemicals & Related Products at €737 million and Food & Live Animals with €358 million.
Imports from Great Britain in March 2023 were €1,459 million, which was 13% of the total value of imports. Imports of Mineral Fuels, Lubricants & Related Materials were valued at €420 million, imports of Chemicals & Related Products accounted for €275 million, and imports of Machinery & Transport Equipment accounted for €274 million (See Table 5)
The EU accounted for €7,296 million (39%) of total goods exports in March 2023, of which €1,989 million went to Germany, €1,306 million went to the Netherlands and €1,271 million went to Belgium.
The USA was the main non-EU destination accounting for €5,645 million (30%) of total exports in March 2023 (See Table 4).
X-axis label | EU 27 | Rest of World | UK | US |
---|---|---|---|---|
Sep 2021 | 5.85619210292483 | 2.793674125 | 1.73716423676024 | 4.384452418 |
Oct 2021 | 5.12918788059397 | 2.656838563 | 1.40791061856762 | 5.764283375 |
Nov 2021 | 5.7871243995022 | 2.763566978 | 2.06671239289944 | 5.006429187 |
Dec 2021 | 4.68630704488206 | 2.939133036 | 1.48132491297317 | 3.94675177 |
Jan 2022 | 6.27725462384199 | 2.796754711 | 1.74828446929616 | 5.244730516 |
Feb 2022 | 6.30750048782998 | 3.34921348 | 1.38697653465659 | 4.825347098 |
Mar 2022 | 7.03328837324932 | 4.00169138399999 | 1.83135468789207 | 7.400502251 |
Apr 2022 | 6.42369394328578 | 3.360673459 | 1.93379661446037 | 5.490089082 |
May 2022 | 6.30089123364906 | 4.39532270599999 | 1.82804450347881 | 5.390377409 |
Jun 2022 | 6.38254413296886 | 3.868853871 | 2.40670161064523 | 5.086599753 |
Jul 2022 | 6.25688163685062 | 3.33823685399999 | 1.56729233270556 | 3.745679746 |
Aug 2022 | 8.5539455172318 | 3.623791805 | 1.92291932489488 | 5.286338789 |
Sep 2022 | 7.58183459884213 | 4.085435417 | 1.82748098316285 | 5.904198153 |
Oct 2022 | 6.61297282372152 | 3.591441143 | 2.05920423606061 | 5.306523683 |
Nov 2022 | 6.65452078252831 | 3.18847492199999 | 2.01371937545377 | 5.032571309 |
Dec 2022 | 5.93067795512827 | 3.213190133 | 1.57292429732733 | 4.503840011 |
Jan 2023 | 6.94854000339703 | 2.90015880999999 | 1.68784981353446 | 3.819107661 |
Feb 2023 | 7.49215867260839 | 3.399105802 | 1.65330527956337 | 4.138414131 |
Mar 2023 | 7.29638293061686 | 3.70724426499999 | 2.18045371475261 | 5.645451148 |
X-axis label | EU 27 | Rest of World | UK | US |
---|---|---|---|---|
Sep 2021 | 2.54651358962204 | 2.54122225308268 | 1.73850218878597 | 1.63970936335317 |
Oct 2021 | 2.68628975764719 | 2.78322891440016 | 1.93410238521967 | 1.5903038632994 |
Nov 2021 | 3.50445688428574 | 3.33734020639254 | 1.97395856867565 | 1.59372048411895 |
Dec 2021 | 3.38359346140656 | 3.254661617833 | 2.18351002497407 | 2.30676084384214 |
Jan 2022 | 2.65591167660714 | 3.2611086241722 | 2.13094575006286 | 1.31652224622383 |
Feb 2022 | 2.83272443009999 | 2.90574911702911 | 1.92517164588207 | 1.43438147581768 |
Mar 2022 | 3.18108974164591 | 4.14074180141705 | 2.37901821288175 | 2.33093602471201 |
Apr 2022 | 3.54191102415513 | 3.47566700004536 | 2.41570873038642 | 1.87450129891659 |
May 2022 | 3.65727972300909 | 5.04974529734677 | 2.38957783844122 | 2.18781775376064 |
Jun 2022 | 3.71708248762264 | 4.64475699263231 | 2.59122572440475 | 1.87929043009657 |
Jul 2022 | 3.14218434843735 | 3.97767827704352 | 2.28031383130403 | 1.30211393590302 |
Aug 2022 | 3.23407630733302 | 4.42266596614623 | 2.70794026711361 | 2.10920545319726 |
Sep 2022 | 4.52427944321212 | 3.65020618616388 | 2.43699274833549 | 2.44974277170222 |
Oct 2022 | 4.08301124213787 | 3.43283333036278 | 3.16068356674586 | 1.79931983564256 |
Nov 2022 | 3.95768941800216 | 3.82477677873277 | 2.48327375726989 | 1.77451951799208 |
Dec 2022 | 4.45871550114048 | 3.90206660680212 | 2.34238094894418 | 1.85151532102646 |
Jan2023 | 2.96448285140116 | 3.72127398856188 | 2.75431154855362 | 1.6296088414914 |
Feb2023 | 4.00338732010388 | 2.97960580537226 | 2.5428814682688 | 1.6197783288128 |
Mar 2023 | 5.56223055699882 | 2.12407289420579 | 1.92187789369758 | 1.57807367384271 |
Exports of Medical & Pharmaceutical Products decreased by €1,998 million (-22%) to €7,224 million in March 2023 compared with March 2022. This represented 38% of total exports.
Exports of Professional, Scientific & Controlling Apparatus grew by €194 million (+25%) to €965 million.
Exports of Electrical Machinery, Apparatus & Appliances fell by €336 million (-27%) to €926 million.
Exports of Food & Live Animals rose by €176 million (+16%) to €1,313 million in March 2023 compared with March 2022 (See Table 3).
Imports of Organic Chemicals were down by €251 million (-13%) to €1,622 million in March 2023 compared with March 2022.
Imports of Mineral Fuels, Lubricants & Related Materials decreased by €271 million (-27%) to €736 million.
Imports of Electrical Machinery, Apparatus & Appliances were down by €217 million (-25%) to €666 million.
The value of goods imports for March 2023 excluding SITC 79 (Other Transport Equipment, Including Aircraft) fell by €1,100 million (-10%) to €9,471 million, compared with the corresponding March 2022 figure of €10,571 million (See Table 3).
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Statistician's Comment
The Central Statistics Office (CSO) has today (17 May 2023) released Goods Exports and Imports March 2023.
Commenting on the release, Ciarán Counihan, Statistician in the International Trade in Goods Division said: “In March 2023, Ireland’s unadjusted exports of goods decreased by €1.4 billion to €18.8 billion compared with March 2022. When seasonally adjusted, exports of goods fell by more than €500 million compared with February 2023.
The unadjusted imports for March 2023 were valued at €11.2 billion, down more than €800 million on March 2022. Seasonally adjusted imports were €10.3 billion in March 2023.
Comparing the first three months of 2023 with the same period in 2022, exports of goods were down 3%, and the value of imports increased by 10%. Exports for the first quarter of 2023 were almost €51 billion.
Imports from Great Britain fell by 24% to €1.5 billion in March 2023 compared with March 2022, and the largest decreases were in the imports of Chemicals & Related Products, Mineral Fuels, Lubricants & Related Materials and Machinery & Transport Equipment.
Exports to Great Britain rose by 25% to more than €1.7 billion in March 2023 from March 2022.”