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Goods Exports and Imports February 2023

Exports in February 2023 were over €16 billion

Online ISSN: 2009-5155
CSO statistical publication, , 11am

Key Findings

  • Unadjusted goods exports were €16.5 billion in February 2023, an increase of €660 million compared with February last year.

  • Unadjusted goods imports were €10 billion, which was more than €900 million higher than imports in February 2022.

  • Seasonally adjusted goods exports were €17.3 billion in February 2023, an increase of €1.6 billion compared with January 2023.

  • Seasonally adjusted goods imports were €11.9 billion in February 2023.

  • Imports from Great Britain were €1.9 billion in February 2023, while exports to Great Britain were €1.3 billion.

Statistician's Comment

The Central Statistics Office (CSO) has today (18 April 2023) released Goods Exports and Imports February 2023.

Commenting on the release, Orla McCarthy, Senior Statistician in the International Trade in Goods Division said: “In February 2023, Ireland’s unadjusted exports of goods increased by €660 million to €16.5 billion compared with February 2022. When seasonally adjusted, exports of goods rose by €1.6 billion compared with January 2023.

The unadjusted imports for February 2023 were valued at €10 billion, up €900 million on February 2022. Seasonally adjusted imports were €11.9 billion in February 2023.

Comparing the first two months of 2023 with the same period in 2022, exports of goods were virtually unchanged, and the value of imports increased by 14%. Exports for January and February 2023 were almost €32 billion. 

Imports from Great Britain grew by 27% to €1.9 billion in February 2023 compared with February 2022, and the largest increases were in the imports of Chemicals & Related products and Mineral Fuels, Lubricants & Related Products.

Exports to Great Britain rose by 24% to more than €1.2 billion in February 2023 from February 2022.”

Headline Table

Table A Goods Exports and Imports seasonally adjusted €million
 ExportsImportsSurplus
January 202315,66212,0773,585
February 202317,25711,9155,342
Value change1,595-1621,757
% change10.2-1.349.0

Seasonally adjusted goods trade exports increased by €1.6 billion in February 2023

Seasonally adjusted goods exports rose by €1,595 million (+10%) to €17,257 million in February 2023 compared with January 2023, according to preliminary figures.

Seasonally adjusted goods imports decreased by €162 million (-1%) to €11,915 million leading to an increase of €1,757 million (+49%) in the seasonally adjusted trade surplus to €5,342 million in February 2023 compared with January 2023 (See Table 2). Seasonal adjustment compares month-to-month data by removing fluctuations that may occur due to seasonal patterns in trade.

Figure 1 Goods Exports and Imports February 2023 Seasonally Adjusted
Table 1 Goods Exports and Imports summary analysis

Table 2 Goods Exports and Imports seasonally adjusted series

Table B Share of Goods Exports and Imports by region€million
UnadjustedFebruary 2022 - 2023 January - February 2022 - 2023
20222023Value change% change 20222023Value change% change
Exports         
Total15,86916,5296604 31,93631,885-510
Great Britain1,0241,26724324 2,4302,6031737
Northern Ireland36336410 706715101
EU276,3087,3521,04517 12,58514,3011,71614
USA4,8254,054-772-16 10,0707,873-2,197-22
Rest of World3,3493,4921434 6,1466,3932474
          
Imports         
Total9,09810,02292410 18,46321,0922,62914
Great Britain1,4991,89940027 3,3084,22291328
Northern Ireland426387-38-9 7488207210
EU272,8333,79095734 5,4896,7541,26623
USA1,4341,342-93-6 2,7512,9712218
 Rest of World2,9062,603-302-10 6,1676,3251583

Exports and imports by region

The (unadjusted) value of goods exports grew by €660 million (+4%) to €16,529 million in February 2023 compared with February 2022. The value of goods exports for the period January to February 2023 fell by €51 million (-0.2%) to €31,885 million, when compared with the same period of 2022.

The (unadjusted) value of goods imports rose by €924 million (+10%) to €10,022 million in February 2023 compared with February 2022. The value of goods imports for the first two months of 2023 increased by €2,629 million (+14%) to €21,092 million, when compared with the same period of 2022.

Exports to Great Britain were €1,267 million, which was 8% of total exports in February 2023. The products which accounted for the largest share of exports were Chemicals & Related Products at €460 million and Food & Live Animals with €295 million.

Imports from Great Britain in February 2023 were €1,899 million, which was 19% of the total value of imports. Imports of Chemicals & Related Products accounted for €611 million, and imports of Mineral Fuels Lubricants & Related Products were valued at €508 million (See Table 5).

The EU accounted for €7,352 million (44%) of total goods exports in February 2023, of which €2,149 million went to Germany, €1,598 million went to Belgium and €1,212 million went to the Netherlands.

The USA was the main non-EU destination accounting for €4,054 million (25%) of total exports in February 2023 (See Table 4).

X-axis labelEU 27Rest of WorldUKUS
Aug 20214.8532.7861.2984.229
Sep 20215.8562.7941.7374.384
Oct 20215.1292.6571.4085.764
Nov 20215.7872.7642.0675.006
Dec 20214.6862.9391.4813.947
Jan 20226.2772.7971.7485.245
Feb 20226.3083.3491.3874.825
Mar 20227.0334.0021.8317.401
Apr 20226.4243.3611.9345.49
May 20226.3014.3951.8285.39
Jun 20226.3833.8692.4075.087
Jul 20226.2573.3381.5673.746
Aug 20228.5543.6241.9235.286
Sep 20227.7674.0851.8375.904
Oct 20226.6133.5912.0595.307
Nov 20226.6553.1882.0145.033
Dec 20225.9313.2131.5734.504
Jan20236.9492.91.6883.819
Feb 20237.3523.4921.6314.054
X-axis labelEU 27Rest of WorldUKUS
Aug 20212.144279270205792.47215954017111.605727168214211.58098671866229
Sep 20212.546513589622042.541222253082681.738502188785971.63970936335317
Oct 20212.686289757647192.783228914400161.934102385219671.5903038632994
Nov 20213.504456884285743.337340206392541.973958568675651.59372048411895
Dec 20213.383593461406563.2546616178332.183510024974072.30676084384214
Jan 20222.655911676607143.26110862417222.130945750062861.31652224622383
Feb 20222.832724430099992.905749117029111.925171645882071.43438147581768
Mar 20223.181089741645914.140741801417052.379018212881752.33093602471201
Apr 20223.541911024155133.475667000045362.415708730386421.87450129891659
May 20223.657279723009095.049745297346772.389577838441222.18781775376064
Jun 20223.717082487622644.644756992632312.591225724404751.87929043009657
Jul 20223.142184348437353.977678277043522.280313831304031.30211393590302
Aug 20223.234076307333024.422665966146232.707940267113612.10920545319726
Sep 20224.573787193295663.638238132102192.49237438059142.43188414696008
Oct 20224.083011242137873.432833330362783.160683566745861.79931983564256
Nov 20223.957689418002163.824776778732772.483273757269891.77451951799208
Dec 20224.458715501140483.902066606802122.342380948944181.85151532102646
Jan20232.964482851401163.721273988561882.754311548553621.6296088414914
Feb 20233.789777989673922.603446869167232.286965089844441.34179693532315

Exports by product

Exports of Medical & Pharmaceutical Products declined by €190 million (-3%) to €5,699 million in February 2023 compared with February 2022. This represented 34% of total exports.

Exports of Organic Chemicals grew by €192 million (+6%) to €3,545 million.

Exports of Electrical Machinery, Apparatus & Appliances fell by €387 million (-34%) to €758 million.

Exports of Food & Live Animals rose by €149 million (+16%) to €1,071 million in February 2023 compared with February 2022 (See Table 3).

Figure 4 Exports by product February 2022 - February 2023

Imports by product

Imports of Organic Chemicals were up by €409 million (+49%) to €1,238 million in February 2023 compared with February 2022.

Imports of Machinery Specialised for Particular Industries expanded by €128 million (+73%) to €304 million.

Imports of Mineral Fuels, Lubricants & Related Products increased by €76 million (+10%) to €815 million.

Imports of Electrical Machinery, Apparatus & Appliances were down by €93 million (-14%) to €592 million.

The value of goods imports for February 2023 excluding SITC 79 (Other Transport Equipment, Including Aircraft) grew by €919 million (+12%) to €8,876 million, compared with the corresponding February 2022 figure of €7,956 million (See Table 3).

 

Figure 5 Imports by product February 2022 - February 2023
Table 3 Goods Exports and Imports classified by commodity

Table 4 Goods Exports and Imports classified by country

Table 5 Goods Exports and Imports classified by commodity and principal countries

Table 6 Goods Exports by industrial origin and area of destination

Table 7 Goods Imports by main use and area of origin

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