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Ireland’s trade surplus slumped in June, driven by far lower exports to the US, data published by the Central Statistics Office showed Friday. The country’s trade surplus dove 56% to €5.43 billion in June from €12.27 billion in May. Exports fell 26% to €17.19 billion in June from €23.32 billion in May. Meanwhile, imports rose 6.4% to €11.76 billion in June from €11.05 billion in May. Pertinently, Ireland’s trade surplus with the US fell 68% to €2.82 billion in June from €8.86 billion the CSO had reported a month ago for May. Irish exports to the US declined 59% to €4.36 billion in June from €10.58 billion in May. Imports from the US dropped 10% to €1.54 billion in June from €1.72 billion in May. Ireland’s trade surplus with the rest of the EU, meanwhile, fell 23% to €2.69 billion in June from €3.50 billion in May. Meanwhile, Ireland’s trade deficit with Great Britain edged up 3.3% to €31 million in June from €30 million in May. Finally, its trade deficit with Northern Ireland increased by 40% to €35 million in June from €25 million in May. Alex Deaton, junior dealer Ebury said: ‘Today’s data shows that Irish exporters are holding their ground, but tougher times could lie ahead. Ireland‘s exporters may have dodged a punishing 30% US tariff, but the 15% blanket rate still marks a step-change from the trading conditions of a year ago. Even with firms now benefitting from some certainty, the reality is a far more restrictive environment, one that is going to have knock on consequences for Irish businesses and the economy. ‘A carveout on certain products such as spirits and diary could be on the cards, but with US President Trump signalling potential hikes on pharmaceuticals, the prospect of any favourable deals remains uncertain. With businesses facing rising costs, they must consider every option, from diversifying markets, reviewing foreign exchange hedges and securing flexible finance to help build resilience to any unexpected headwinds.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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