FX.co ★ Ireland Trade Surplus Surges

In May 2025, Ireland's trade surplus expanded significantly to €12.6 billion, up from €7 billion during the same month in the previous year. This increase was driven by a remarkable 29% rise in exports, reaching €23.3 billion, marking the steepest increase for May on record. The surge was fueled by an 86% increase in exports to the United States as Irish major corporations and manufacturing plants expedited shipments to avoid impending tariffs from US President Trump on the European Union. Predominantly, these exports consisted of chemicals and related products, valued at €9.4 billion, with a considerable portion hailing from the medical and pharmaceutical sector, which recently faced the threat of additional tariffs. Conversely, imports experienced a 3% decrease, amounting to €10.7 billion, largely due to a 22% reduction in foreign purchases from the US, primarily because of diminished chemical and related product imports, which were valued at €0.9 billion.