Irish exports to the US rose by 81% in January

Irish exports to the United States surged by 81% in January compared to January 2024. This increase is reported by the Central Statistics Office (CSO). The rise in exports included a significant boost in medical and pharmaceutical products, which grew by 68%. Some companies may be stockpiling goods in the U.S. because of expected tariffs from the Trump administration. However, CSO warns that these figures are for one month and can change quickly. Jane Burmanje, a statistician from CSO, noted that Ireland had a goods trade surplus of €12.2 billion in January. The exports to the U.S. reached €11.7 billion, making up 48.4% of all Irish goods exports. In contrast, imports from the U.S. were €2.1 billion, or 19.7% of total imports. Overall, the unadjusted value of Irish goods exports rose by €5.3 billion, or 28.2%, to €24.2 billion. When adjusted for seasonal changes, the increase was €4.8 billion, or 26.4%, from December 2024. Carol Lynch, from BDO, emphasized the U.S. as Ireland's largest goods export market in January. Companies are likely exporting more to avoid future tariffs on EU goods. Imports from the U.S. have also increased, possibly in anticipation of tariffs on American products. Lynch also mentioned that exports to Great Britain fell by 22% year-on-year. This drop was concentrated in the chemicals and pharmaceuticals sector. However, there were gains in exports to the EU of these products, rising by over €500 million. In the agri-food sector, exports to Great Britain rose by €29 million. Lynch highlighted the need for Irish traders to act quickly as trade conditions change, especially with potential U.S. tariffs looming. She advised companies to rethink their export strategies to adapt to the new landscape promptly.