FX.co ★ Ireland Trade Surplus Narrows Sharply in March

Ireland’s trade surplus narrowed sharply to EUR 4.0 billion in March 2026, down from EUR 24.5 billion in the same month a year earlier. Exports slumped 51.4% year-on-year to EUR 18.3 billion, primarily due to steep declines in shipments of medical and pharmaceutical products (-70.0%) and organic chemicals (-70.8%). These falls were partly offset by a 439.1% surge in exports of petroleum and petroleum products.

The United States (+24.7%), the Netherlands (+13.5%), and Great Britain (+10.7%) remained Ireland’s leading export markets.

On the import side, purchases increased 9.3% to EUR 14.3 billion, driven mainly by higher imports of petroleum and petroleum products (+5.6%). This rise was partially offset by lower imports of medical and pharmaceutical products (-29.9%) and organic chemicals (-11.4%). The United States (+13.8%) and Great Britain (+9.8%) were Ireland’s largest suppliers.

Over the first quarter of the year, the trade surplus stood at EUR 12.4 billion, a marked decline from EUR 51.3 billion in the corresponding period of the previous year.