Irish exports reach a record €152.5bn as trade with Britain declines

Exports were up in the year despite a €200m decline in December to €11.6bn

Medical and pharma goods accounted for a third of all exports recorded

Medical and pharma goods accounted for a third of all exports recorded

 

Irish exports exceeded €152.5 billion last year, the highest total on record.

New figures from the Central Statistics Office show exports jumped by 8 per cent or €11.9 million versus the €140.5 million reported in 2018.

Medical and pharma goods accounted for a third of all exports recorded at €49.6 billion, up €3.45 billion or 7 per cent on the previous year.

Exports were up despite a €200 million decline in December to €11.6 billion. This was primarily due to a €1 billion fall in exports of aircraft. This was partly offset by rises in exports of electrical machinery, which rose 54 per cent to €851 million.

Imports increased by 3 per cent last year to €89.2 billion versus €92 billion in 2018. In November, the value of goods imported rose by 4 per cent to €12.6 billion.

The European Union accounted for 48 per cent of all exports in 2019, rising 3 per cent to €72.6 billion compared to the previous year. Some 69 per cent of imports came from the EU.

Exports to Britain fell by 4 per cent to €13.5 billion last year while imports rose 3 per cent to €18.7 billion leaving a €5.2 billion trade deficit.