Exports increase by €4.5bn in May largely due to medical and pharmaceutical sector

Amy Blaney

Ireland’s unadjusted exports of goods were €18 billion in May 2022, an increase of almost €4.5 billion with May last year, according to figures released from the Central Statistics Office (CSO).

The increase of exports were largely due to the medical and pharmaceutical sector as exports of medical and pharmaceutical products increased by 63 per cent in May 2022 from €2.7 million to €7 million.

The exports of this sector represented 39 per cent of the total exports.

While the exports of professional, scientific and controlling apparatus increased by 33 per cent in May 2022 compared to May last year.

The exports of food and live animals increased by 28 per cent from €285 million to €1,302 million in May 2022, compared to the previous year, and the export of electrical machinery, apparatus, appliances and parts increased by 19 per cent in May 2022.

Imports

The unadjusted imports of goods were €12.8 billion, which was €4 billion higher than imports in May 2021.

The imports of machinery specialised for particular industries increased by 366 per cent to €707 million, while imports of mineral fuels, lubricants and related products increased by 142 per cent to €1,007 million in May 2022 compared with May last year.

The imports of organic chemicals increased by 71 per cent to €591 million, representing 16 per cent of total imports in May

Foreign trade

Imports from Great Britain were €2 billion in May 2022, an increase of 71 per cent compared to May 2021.

The main increases were in the imports of mineral fuels, lubricants and related materials and chemicals and related products. Imports from Great Britain were 16 per cent of the value of total imports in May 2022.

While exports to Great Britain were €1.5 billion, or a 27 per cent increase from May 2021. The main change was an increase in the exports of chemicals and related products and machinery and transport equipment.

Exports to Great Britain accounted for 8 per cent of total exports in May 2022.

The EU accounted for €6,295 million (35 per cent) of total goods exports in May 2022 of which €2,019 million went to Germany, €1,279 million went to the Netherlands and €1,154 million went to Belgium.

Total EU exports in May 2022 increased by €841 million (15 per cent) compared with May 2021.

The USA was the main non-EU destination accounting for €5,416 million (30 per cent) of total exports in May 2022.