Ireland recorded a goods trade surplus of €12.2 billion in January this year, driven by a rise in pharmaceutical exports amid growing concerns about US tariffs.
According to the Central Statistical Office, the unadjusted value of merchandise exports increased by 5.3 billion euros (28.2%) compared with January of the previous year to 24.2 billion euros.
Exports of medical and pharmaceutical products, which accounted for 61 percent of total exports in January, increased by 68 percent compared to last year, from 8.8 billion euros to 14.8 billion euros.
In January, the US remained the largest market for both Irish goods exports and imports, accounting for 48.4% of total goods exports and 19.7% of imports.
Robert Perdue, from global financial services firm Ebury, said preliminary trade figures for 2025 showed a strong start to the year for Irish business.
Business Major pharmaceutical company raises concerns over top-selling Irish drugs in… Read more
“Strong growth in gross domestic product and other key economic indicators continue to provide positive momentum for the Irish economy, but global challenges remain,” he said.
“The Prime Minister's recent meeting with US President Trump drew attention to what he called the 'massive' trade imbalance between Ireland and the US, with Trump reiterating his tough stance on EU tariffs.
“However, hopes for a strong relationship between the US and Ireland remain intact, raising the prospect that Ireland will be able to avoid some of the trade pressures faced by its EU counterparts.
“However, there is still uncertainty. With the European economy under strain and global trade tensions escalating, Irish companies will need to remain adaptive. Hedging against currency fluctuations and strengthening supply chain resilience will be key to managing potential volatility both domestically and internationally.”
Sourse: breakingnews.ie
