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Ireland’s trade surplus surged in January, helped by a sharp increase in its surplus with the US, data published by the Central Statistics Office showed Tuesday. The country’s trade surplus rose 72% to €12.20 billion in January from €7.10 billion in December. Ireland’s surplus was 46% higher than €8.38 billion in January 2024. Its exports climbed 26% monthly to €23.0 billion from €18.20 billion, while imports fell 2.6% to €10.81 billion in January 2025 from €11.10 billion in December 2024. Notably, Ireland’s trade surplus with the US surged 97% to €9.68 billion in January, from €4.92 billion in January 2024. Exports to the US jumped 81% on-year in January, to €11.74 billion from €6.47 billion, while imports from the US rose 33% to €2.06 billion from €1.56 billion. The data comes amid an ongoing trade conflict between the EU and the US, with US President Donald Trump having threatened to apply 200% tariffs on wine, champagne and other alcoholic drinks from EU countries. His threat was a response to the EU’s unveiling of tariffs on $28 billion in US goods, starting in stages from April, which include bourbon, boats and motorbikes. That followed US tariffs on steel and aluminium imports taking effect the same day. Last week Wednesday, during a visit by Taoiseach Micheal Martin to the Oval Office, Donald Trump lamented ‘a massive deficit’ with Ireland ‘and other countries’. Asked if Ireland was taking advantage of the US, Trump said back then: ‘Of course they are. I have great respect for Ireland, for what they did and they should have done just what they did. But the US shouldn’t have let that happen. We had stupid leaders, we had leaders who didn’t have a clue. ‘All of a sudden Ireland has our pharmaceutical companies, this beautiful island of five million people has got the entire US pharmaceutical industry in its grasps.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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