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Goods Exports and Imports March 2023

Exports of goods were €18.8 billion in March 2023

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

Key Findings

  • 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.

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.”

Headline Table

Table A Goods Exports and Imports seasonally adjusted €million
 ExportsImportsSurplus
February 202317,40012,9644,435
March 202316,88610,3236,563
Value change-514-2,6412,127
% change-3.0-20.448.0

Seasonally adjusted goods trade exports decreased by over €500 million in March 2023

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.

Figure 1 Goods Exports and Imports March 2023 Seasonally Adjusted
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
UnadjustedMarch 2022 - 2023 January - March 2022 - 2023
20222023Value change% change 20222023Value change% change
Exports         
Total20,26718,830-1,437-7 52,20350,868-1,335-3
Great Britain1,4081,75835025 3,8384,36252414
Northern Ireland423422-10 1,1291,160313
EU277,0337,2962634 19,61821,7372,11911
USA7,4015,645-1,755-24 17,47113,603-3,868-22
Rest of World4,0023,707-294-7 10,14810,007-141-1
         
Imports         
Total12,03211,186-846-7 30,49433,4022,90710
Great Britain1,9141,459-454-24 5,2225,93170914
Northern Ireland465463-3-1 1,2131,288756
EU273,1815,5622,38175 8,67012,5303,86045
USA2,3311,578-753-32 5,0824,827-254-5
 Rest of World4,1412,124-2,017-49 10,3088,825-1,483-14

Exports and imports by region

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 labelEU 27Rest of WorldUKUS
Sep 20215.856192102924832.7936741251.737164236760244.384452418
Oct 20215.129187880593972.6568385631.407910618567625.764283375
Nov 20215.78712439950222.7635669782.066712392899445.006429187
Dec 20214.686307044882062.9391330361.481324912973173.94675177
Jan 20226.277254623841992.7967547111.748284469296165.244730516
Feb 20226.307500487829983.349213481.386976534656594.825347098
Mar 20227.033288373249324.001691383999991.831354687892077.400502251
Apr 20226.423693943285783.3606734591.933796614460375.490089082
May 20226.300891233649064.395322705999991.828044503478815.390377409
Jun 20226.382544132968863.8688538712.406701610645235.086599753
Jul 20226.256881636850623.338236853999991.567292332705563.745679746
Aug 20228.55394551723183.6237918051.922919324894885.286338789
Sep 20227.581834598842134.0854354171.827480983162855.904198153
Oct 20226.612972823721523.5914411432.059204236060615.306523683
Nov 20226.654520782528313.188474921999992.013719375453775.032571309
Dec 20225.930677955128273.2131901331.572924297327334.503840011
Jan 20236.948540003397032.900158809999991.687849813534463.819107661
Feb 20237.492158672608393.3991058021.653305279563374.138414131
Mar 20237.296382930616863.707244264999992.180453714752615.645451148
X-axis labelEU 27Rest of WorldUKUS
Sep 20212.546513589622042.541222253082681.738502188785971.63970936335317
Oct 20212.686289757647192.783228914400161.934102385219671.5903038632994
Nov 20213.504456884285743.337340206392541.973958568675651.59372048411895
Dec 20213.383593461406563.2546616178332.183510024974072.30676084384214
Jan 20222.655911676607143.26110862417222.130945750062861.31652224622383
Feb 20222.832724430099992.905749117029111.925171645882071.43438147581768
Mar 20223.181089741645914.140741801417052.379018212881752.33093602471201
Apr 20223.541911024155133.475667000045362.415708730386421.87450129891659
May 20223.657279723009095.049745297346772.389577838441222.18781775376064
Jun 20223.717082487622644.644756992632312.591225724404751.87929043009657
Jul 20223.142184348437353.977678277043522.280313831304031.30211393590302
Aug 20223.234076307333024.422665966146232.707940267113612.10920545319726
Sep 20224.524279443212123.650206186163882.436992748335492.44974277170222
Oct 20224.083011242137873.432833330362783.160683566745861.79931983564256
Nov 20223.957689418002163.824776778732772.483273757269891.77451951799208
Dec 20224.458715501140483.902066606802122.342380948944181.85151532102646
Jan20232.964482851401163.721273988561882.754311548553621.6296088414914
Feb20234.003387320103882.979605805372262.54288146826881.6197783288128
Mar 20235.562230556998822.124072894205791.921877893697581.57807367384271

Exports by product

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).

Figure 4 Exports by product March 2022 - March 2023

Imports by product

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).

 

Figure 5 Imports by product March 2022 - March 2023
Table 3 Goods Exports and Imports classified by commodity

Table 4 Goods Exports and Imports classified by country

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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