Pharmaceuticals and medical products boosted Irish exports by a third in May – The Irish Times
The value of Irish goods exports jumped by a third to €18 billion in May from the same month last year, driven mainly by growth in exports of medical and pharmaceutical products, according to the latest data. from the Central Statistics Office.
The data also shows that the year-on-year value of merchandise exports for the first five months of 2022 increased by a third to 88.1 billion euros.
Exports of medical and pharmaceutical products increased by almost two-thirds to reach 7.1 billion euros. This represented 39 percent of total exports. Exports of professional, scientific and control devices increased by a third to 733 million euros.
Exports of food and live animals increased by 28% to €1.3 billion, while exports of machinery, appliances, appliances and electrical parts increased by 19% to €1.2 billion .
Strong increases were also seen on the import side, with the unadjusted value rising by 46% to €12.8 billion. The value of goods imports for the period from January to May increased by 36% to 53.6 billion euros.
Imports from Great Britain increased by 71% to reach 2 billion euros. CSO statistician Ciarán Counihan said this was partly explained by the relatively low level of imports in May 2021, which was the fifth month in which post-Brexit customs documentation was required for UK trade.
The value of goods imports from Britain in the first five months of the year is 76% higher than last year, at 9.3 billion euros.
Exports to Great Britain increased by 27% to reach 1.5 billion euros. The main change was an increase in exports of chemicals and related products, as well as machinery and transport equipment. Exports to Britain accounted for 8% of total exports in May. The value of goods exports to Britain from January to May rose 32% to €6.9 billion.
Imports from Northern Ireland were up 23% on a year ago in the five months to May, to 1.9 billion euros. Exports to Northern Ireland for the same period increased by 42% to €2 billion.
The European Union accounted for 35% of total merchandise exports in May, of which 2 billion euros went to Germany, 1.3 billion euros to the Netherlands and 1.2 billion euros to the Belgium. Total EU exports increased by 15% compared to May 2021.
The United States was the main destination outside the EU, accounting for 30 percent of total exports. The EU accounted for 27%, an increase of 1% from May 2021.
The United Kingdom with 2.4 billion euros (19%), the United States with 1.9 billion euros (15%) and China with 1.6 billion euros (12%) were main sources of non-EU imports.