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Ireland’s trade surplus climbed in May, boosted in particular by intra-EU trade, data published by the Central Statistics Office showed Thursday. The country’s trade surplus rose 10% to €12.27 billion in May from €11.12 billion in April. Exports climbed 5.0% to €23.01 billion monthly in May from €21.91 billion. Meanwhile, imports edged down 0.5% to €10.74 billion in May from €10.79 billion in April. Notably, Ireland’s trade surplus with the US rose 3.9% to €8.86 billion in May from €8.53 billion in April. Ireland’s trade surplus with the rest of the EU meanwhile jumped 18% to €3.50 billion in May from €2.97 billion in April. Meanwhile, Ireland’s trade deficit with Great Britain widened 67% to €30 million in May from €18 million in April. Finally, its trade deficit with Northern Ireland increased by 8.7% to €25 million in May from €23 million. Robert Purdue, head of Dealing in Ireland at Ebury said: ‘Irish exports to the US, especially of pharmaceutical products, have driven a significant increase in trade through the first months of 2025, as punitive tariffs drove a rush to accelerate shipments ahead of President Trump’s tariffs. It suggests 2025 will be a year of two halves with an artificial spike in H1 likely to be followed by a slump as exporters re-stock and take stock of the new global trade environment. New threats of significant tariffs on pharmaceutical products will be hugely concerning for the economy given the critical role this sector plays in Ireland. ‘With nearly three quarters of small & medium enterprises expecting higher business costs, many face difficult choices around pricing, margins and market access. Irish businesses must be resilient and prepared hedging against currency fluctuations and reinforcing supply chain resilience will be key to managing potential volatility at home and abroad.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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