Exports slow by €1.2 billion in May – CSO

July 19, 2023

New figures from the Central Statistics Office show that Irish unadjusted exports of goods decreased by €1.2 billion to €16.7 billion in May compared to the same time last year.

When seasonally adjusted, exports of goods fell by more than €400m in May from the previous month.

Exports of medical and pharmaceutical products decreased by -8% to €6,493 million in May 2023 compared with May of last year. This represented 39% of total exports.

Exports of electrical machinery, apparatus and appliances fell by -36% to €795 million.

Meanwhile, the unadjusted imports for May were valued at €11.6 billion, down €1.6 billion on the same month last year. Seasonally adjusted imports were €11.3 billion in May, the CSO said.

Comparing the first five months of 2023 with the same time in 2022, the CSO said the value of exports were down 6%, and the value of imports increased by 5%.

The CSO noted that imports from Great Britain fell by 34% to €1.3 billion in May of this year compared to May 2022, with the biggest decrease seen in the imports of Mineral Fuels, Lubricants and Related Materials which fell by 53%.

But exports to Great Britain grew by 19% to €1.6 billion in May 2023 from the same time last year.

The EU accounted for €6.942 billion (42%) of total goods exports in May 2023, of which €1.818 billion went to Germany, €1.450 billion went to the Netherlands and €1.334 billion went to Belgium.

The US was the main non-EU destination accounting for €4.175 billion or 25% of total exports in May of this year.

Article Source: Exports slow by €1.2 billion in May – CSO – RTE

Copyright and Related Rights Act, 2000

Related News

Irish prices second highest in EU last year

Irish prices second highest in EU last year

Prices paid by Irish consumers were the second highest in the EU last year, according to new official data. Irish prices were 42% higher than the EU average, according to Eurostat, just behind the 43% recorded in Denmark. Lowest price levels were registered in...

Increased labour needed to drive construction output

Increased labour needed to drive construction output

An increase in labour capacity in the construction sector may be needed if the number of houses that work has begun on this year are to be delivered. That is according to Banking and Payments Federation Ireland (BPFI) which says that between January and April, 30,138...