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Goods Exports and Imports March 2024

Exports of goods grew by €2.3 billion in first quarter of 2024

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

Key Findings

  • Unadjusted goods exports were €53.2 billion in Quarter 1 (Q1) 2024, an increase of €2.3 billion when compared with the same period last year.

  • Unadjusted goods imports were €31.2 billion, which was more than €3.3 billion lower than imports in Q1 2023.

  • Seasonally adjusted goods exports were €17.6 billion in March 2024, while seasonally adjusted goods imports were €11.1 billion.

  • Imports from Great Britain were €4.2 billion in Q1 2024, while exports to Great Britain were €4.4 billion.

Statistician's Comment

The Central Statistics Office (CSO) has today (16 May 2024) released Goods Exports and Imports March 2024.

Commenting on the release, Ciarán Counihan, Statistician in the International Trade in Goods Division said: “In the first quarter of 2024, Ireland’s unadjusted exports of goods increased by €2.3 billion to €53.2 billion compared with Q1 2023. 

Seasonally adjusted exports of goods were €17.6 billion in March 2024, virtually unchanged when compared with February 2024.

The unadjusted imports for January, February, and March (Q1) 2024 were valued at €31.2 billion, down €3.4 billion on Q1 2023. Seasonally adjusted imports were €11.1 billion in March 2024.

Comparing March 2024 with the same month in 2023, exports of goods were 1% lower, and the value of imports decreased by 2%. 

Imports from Great Britain fell by 34% to €4.2 billion in Q1 2024 compared with the same period of 2023, and the largest decreases were in the imports of Chemicals & Related products and Mineral Fuels, Lubricants & Related Products.

Exports to Great Britain rose by 3% to €4.4 billion in Q1 2024 from Q1 2023.”

Headline Table

Table A Goods Exports and Imports seasonally adjusted €million
 ExportsImportsSurplus
February 202417,61610,5217,095
March 202417,56311,0696,494
Value change-53549-602
% change-0.35.2-8.5

Seasonally adjusted goods trade imports increased by over €500 million in March 2024

Seasonally adjusted goods exports fell by €53 million (-0.3%) to €17,563 million in March 2024 compared with February 2024, according to preliminary figures.

Seasonally adjusted goods imports increased by €549 million (+5%) to €11,069 million leading to a decrease of €601 million (-8%) in the seasonally adjusted trade surplus to €6,494 million in March 2024 compared with February 2024 (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 2024 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 2023 - 2024 January - March 2023 - 2024
20232024Value change% change 20232024Value change% change
Exports         
Total18,73818,494-244-1 50,94953,2392,2904
Great Britain1,6871,731443 4,2974,4451483
Northern Ireland437432-5-1 1,2181,229111
EU277,2286,910-318-4 21,65921,117-542-3
USA5,6195,226-393-7 13,62915,9332,30417
Rest of World3,7674,19542811 10,14610,5163704
         
Imports         
Total11,88611,643-243-2 34,55031,185-3,365-10
Great Britain1,6831,508-175-10 6,3354,176-2,159-34
Northern Ireland466387-79-17 1,2951,312161
EU275,1744,860-314-6 11,76611,9331671
USA1,8532,0241719 5,3544,945-408-8
 Rest of World2,7102,8651556 9,8008,819-980-10

Exports and imports by region

The (unadjusted) value of goods exports fell by €244 million (-1%) to €18,494 million in March 2024 compared with March 2023. The value of goods exports for the period January to March 2024 grew by €2,290 million (+4%) to €53,239 million, when compared with the same period of 2023.

The (unadjusted) value of goods imports decreased by €243 million (-2%) to €11,643 million in March 2024 compared with March 2023. The value of goods imports for the first three months of 2024 fell by €3,365 million (-10%) to €31,185 million, when compared with the same period of 2023.

Exports to Great Britain were €1,731 million, which was 9% of total exports in March 2024. The products which accounted for the largest share of exports were Chemicals & Related Products at €739 million and Food & Live Animals with €341 million.

Imports from Great Britain in March 2024 were €1,508 million, which was 13% of the total value of imports. Imports of Chemicals & Related Products accounted for €400 million, imports of Machinery & Transport Equipment were €283 million and imports of Mineral Fuels, Lubricants & Related Products were valued at €217 million. (See Table 5).

The EU accounted for €6,910 million (37%) of total goods exports in March 2024, of which €1,873 million went to Germany, €1,836 million went to Belgium and €1,163 million went to the Netherlands.

The USA was the main non-EU destination accounting for €5,226 million (28%) of total exports in March 2024 (See Table 4).

X-axis labelEU 27Rest of WorldUKUS
Mar 20227.031467947564044.001691383999991.833175113577367.400502251
Apr 20226.420026746059943.3606734591.937093786286225.490089082
May 20226.29837021940854.395322705999991.830222627515385.390377409
Jun 20226.347738183521543.8688538712.408873480092575.086599753
Jul 20226.2525396486543.338236853999991.570294844402193.745679746
Aug 20228.55059634679393.6237918051.926268495332775.286338789
Sep 20227.594419986750934.0854354171.849918090254055.904198153
Oct 20226.586961722230773.5914411432.080607897330655.306523683
Nov 20226.887169794156363.188474921999992.02301503327065.032571309
Dec 20225.994954273392763.1093138661.592051772429824.433765332
Jan 20237.001669297181932.925172203999991.72091647930193.849700567
Feb 20237.429784533624563.454123632000011.669879090181094.160032732
Mar 20237.227578069255563.767196381999992.124211416907955.6191061
Apr 20236.517811930494922.912263853000011.585515723780624.155685568
May 20236.935971102259513.533047375000022.062313590499224.093419028
Jun 20236.739189992991963.2383297142.748419068438185.694475768
Jul 20236.57141528120162.835267783000012.182577029620324.033586402
Aug 20236.151026689193283.1165743021.692752440891815.048801198
Sep 20237.149561621104662.9036433211.563882917682984.236656503
Oct 20237.607520992626033.4263675061.630511310122414.878499338
Nov 20236.801176747959353.4234254282.189141857489064.193145893
Dec 20235.116073329883933.0854955261.247593616788624.284592452
Jan 20247.096616445016843.351652946039991.90260450139766.460237898
Feb 20247.110294841226632.969328148031.607630486206264.246990123
Mar 20246.90969872611884.195035371969992.163505316156545.22588082
X-axis labelEU 27Rest of WorldUKUS
Mar 20223.148272852630814.140741801417052.387880871994042.33093602471201
Apr 20223.508208805349953.475667000045362.425356178488811.87450129891659
May 20223.634311233442355.049745297346772.399138778672392.18781775376064
Jun 20223.705675607253474.644756992632322.600614882938341.87929043009657
Jul 20223.132875267037433.977678277043522.289539370001861.30211393590302
Aug 20223.224706554907284.422665966146232.717226476837282.10920545319726
Sep 20224.187917654413823.650206186022822.519287627358942.44974277170222
Oct 20224.106304015305253.424538515205853.177788655539391.79897633135657
Nov 20224.018269569102473.814202635110062.469854957869961.82583888094956
Dec 20224.535335228381453.879199344986452.354692981474921.80623668992089
Jan 20232.881285912095213.854848559967312.954041478629471.81484609051063
Feb 20233.710558781513353.234852581663752.527791499879611.68600377733813
Mar 20235.174182055765622.709812093703522.148942225065421.85297748577796
Apr 20233.643313535349813.463148688688282.291394741533171.41027558021653
May 20234.454287609423824.278917245800671.949384508687411.84648065909634
Jun 20235.011718309461673.425648370469592.160766013503012.07012732566615
Jul 20233.721061316193833.509396950086232.074228315212971.53445947815736
Aug 20233.17745857641233.195028907392462.270158484793611.711615391636
Sep 20233.493111744219783.376374851786692.213583880320072.18532103342391
Oct 20233.515135199842573.623414115890951.971498680383941.80989551469966
Nov 20234.604517314560514.327916935742782.17156365332033.03248267422309
Dec 20234.535616138493513.407908533462181.502542543622042.30643603199226
Jan 20243.196658235356613.190641550617691.659481237648351.37221136404805
Feb 20243.876327973096832.763770496991881.933404934084471.54969839575143
Mar 20244.859910098149892.864651695711.894933354897152.0235308561351

Exports by product

Exports of Medical & Pharmaceutical Products decreased by €268 million (-4%) to €6,944 million in March 2024 compared with March 2023. This represented 38% of total exports.

Exports of Organic Chemicals grew by €41 million (+1%) to €3,353 million.

Exports of Professional, Scientific & Controlling Apparatus decreased by €33 million (-3%) to €938 million. (See Table 3).

Figure 4 Exports by product March 2023 - March 2024

Imports by product

Imports of Organic Chemicals were down by €727 million (-41%) to €1,052 million in March 2024 compared with March 2023.

Imports of Electrical Machinery, apparatus & appliances decreased by €146 million (-18%) to €686 million.

Imports of Mineral Fuels, Lubricants & Related Products decreased by €231 million (-26%) to €668 million.

Imports of Office Machines & Automatic Data Processing Machines increased by €144 million (+47%) to €452 million.

The value of goods imports for March 2024 excluding SITC 79 (Other Transport Equipment, Including Aircraft) fell by €264 million (-3%) to €9,777 million, compared with the corresponding March 2023 figure of €10,041 million (See Table 3).

Figure 5 Imports by product March 2023 - March 2024
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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