Ireland’s trade balance of goods demonstrated a steady surplus throughout the period, increasing from 44,161.4 million USD in 2017 to a peak of 80,281.0 million USD in 2020, supported by strong exports in pharmaceuticals, medical devices, and ICT products. However, the surplus gradually narrowed to 62,433.8 million USD in 2023, reflecting stabilizing demand and rising import costs.
The trends emphasize Ireland’s reliance on high-value, export-oriented industries, which buffer its economy against external shocks. Nevertheless, the narrowing surplus highlights challenges in maintaining export growth amid global economic headwinds.
The trends emphasize Ireland’s reliance on high-value, export-oriented industries, which buffer its economy against external shocks. Nevertheless, the narrowing surplus highlights challenges in maintaining export growth amid global economic headwinds.
Find out more through related statistics on Ireland’s manufacturing sector share of GDP, Ireland’s net lending/borrowing as a percentage of GDP, Ireland’s industry sector share in GDP.
