FX.co ★ Ireland Trade Surplus Narrows Sharply in May

Ireland’s trade surplus narrowed sharply to EUR 3.4 billion in May 2026, down from EUR 12.1 billion in May 2025. Exports fell 29.1% year-on-year to EUR 16.5 billion, driven primarily by steep declines in shipments of medicinal and pharmaceutical products (-58.9%), chemicals and related products (-50.4%), and other transport equipment (-24.5%).

By destination, exports decreased notably to Belgium (-35.2%), Italy (-44.8%), the Netherlands (-29.9%), and the United States (-55.9%).

In contrast, imports rose 17.5% to EUR 13.1 billion, supported by higher purchases of petroleum and petroleum products (+69.9%), machinery and transport equipment (+45.7%), and telecommunications and sound recording and reproducing equipment (+32.7%).

Imports increased from several key partners, including Germany (+5.3%), France (+17.3%), the United Kingdom (+2.7%), and the Netherlands (+4.8%).

Over the January–May period, the trade surplus totaled EUR 21.5 billion, substantially below the EUR 74 billion recorded in the same period a year earlier.