In June 2022, Ireland’s unadjusted exports of goods were €17.5 billion and imports were valued at €12.7 billion.
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Comparing the first six months of 2022 with the same period in 2021, exports of goods increased by just over 30%, and the value of imports increased by more than a third.
The main driver of increases in exports of goods was Chemicals and Related Products. On the imports side there were significant increases in imports of both Mineral Fuels and Chemicals and Related Products.
Imports from Great Britain grew by 54% to nearly €2.2 billion in June 2022 compared with June 2021, the largest increases were in the imports of Mineral Fuels and Chemicals and Related Products.â€
Seasonally adjusted goods imports decreased by €968 million (-8%) to €11,614 million in June 2022 compared with May 2022, according to preliminary figures.
Seasonally adjusted goods exports decreased by €1,368 million (-8%) to €16,508 million leading to a decrease of €400 million (-8%) in the seasonally adjusted trade surplus to €4,894 million in June 2022 compared with May 2022. Seasonal adjustment compares month-to-month data by removing fluctuations that may occur due to seasonal patterns in trade.
The (unadjusted) value of goods exports increased by €2,767 million (+19%) to €17,516 million in June 2022 compared with June 2021. The value of goods exports for the period January to June 2022 increased by €24,706 million (+31%) to €105,645 million, when compared with the same time period of 2021.
Exports of Medical and Pharmaceutical Products increased by €788 million (+14%) to €6,401 million in June 2022 compared with June 2021. This represented 37% of total exports.
Exports of Professional, Scientific and Controlling Apparatus increased by €309 million (+51%) to €909 million.
Exports of Food and Live Animals increased by €244 million (+21%) to €1,389 million in June 2022 compared with June 2021.
Exports of Electrical Machinery, Apparatus, Appliances and Parts increased by €210 million (+21%) to €1,222 million.
The (unadjusted) value of goods imports increased by €2,809 million (+28%) to €12,699 million in June 2022 compared with June 2021. The value of goods imports for the first half of 2022 increased by €17,496 million (+36%) to €66,699 million, when compared with the same time period of 2021.
Imports of Organic Chemicals increased by €757 million (+46%) to €2,415 million, representing 19% of total imports in June 2022.
Imports of Mineral Fuels, Lubricants and Related Products increased by €523 million (+108%) to €1,006 million in June 2022 compared with June 2021.
Imports of Machinery Specialised For Particular Industries increased by €439 million (+285%) to €592 million.
The value of goods imports for June 2022 excluding SITC 79 (Other Transport Equipment, Including Aircraft) increased by €3,169 million (+39%) to €11,357 million, compared with the corresponding June 2021 figure of €8,188 million.
Imports from Great Britain increased by €761 million (+54%) to €2,166 million compared with June 2021. The main increases were in the imports of Mineral Fuels, Lubricants and Related Materials and Chemicals and Related Products. Imports from Great Britain were 17% of the value of total imports in June 2022.
The value of goods imports from Great Britain for January to June 2022 increased by €4,778 million (+72%) to €11,440 million, compared with the same period in 2021.
Exports to Great Britain in June 2022 increased by €532 million (+38%) to €1,917 million, compared with June 2021. The main change was an increase in the exports of Chemicals and Related Products. Exports to Great Britain accounted for 11% of total exports in June 2022.
The value of goods exports to Great Britain for the first half of 2022 increased by €2,200 million (+33%) to €8,844 million, compared with the same period of 2021.
Imports from Northern Ireland for January to June 2022 increased by €413 million (+21%) to €2,368 million when compared with the same time period of 2021.
Exports to Northern Ireland for January to June 2022 increased by €662 million (+38%) to €2,419 million when compared with the same time period in 2021.
The EU accounted for €6,206 million (35%) of total goods exports in June 2022 of which €1,605 million went to Germany, €1,494 million went to Belgium and €1,255 million went to the Netherlands. Total EU exports in June 2022 increased by €604 million (+11%) compared with June 2021.
The USA was the main non-EU destination accounting for €5,087 million (29%) of total exports in June 2022.
The EU accounted for €3,664 million (29%) of total goods imports in June 2022, which is a decrease of €23 million (-0.6%) compared with June 2021.
The UK with €2,590 million (20%), China with €2,070 million (16%) and the USA with €1,811 million (14%) were the main non-EU sources of imports.
Industrial Produce accounted for €16,176 million (92%) of total exports in June 2022. This is an increase of €2,467 million (+18%) when compared with June 2021. There was €5,573 million of this exported to the EU, €5,014 million to the USA and €1,953 million to the UK. Agricultural Produce accounted for €1,136 million (6%) of total exports.
Producer Capital Goods Ready For Use accounted for €2,472 million (19%) of total imports in June 2022, an increase of €207 million (+9%) when compared with June 2021.
Consumption Goods Ready For Use represented €2,560 million (20%) of total imports, and Materials For Further Production accounted for €7,452 million (59%). ■