Ireland's trade surplus narrowed to EUR 5.0 billion in July 2020 from EUR 5.4 billion in the same month last year. Exports rose by only 0.5 percent boosted by sales of medical and pharmaceutical products (14 percent) and organic chemicals (6 percent), while exports of professional, scientific and controlling apparatus fell sharply (-14 percent). Among major trade partners, sales to the US advanced 8 percent, while those to the EU fell 1 percent and to the UK slumped 12 percent. Meanwhile, imports were up 6 percent on the back of a 199 percent jump in purchases of organic chemicals. Imports of other transport equipment, including aircraft decreased 24 percent and those of petroleum tumbled 54 percent.
Balance of Trade in Ireland averaged 1442305.44 EUR Thousand from 1970 until 2020, reaching an all time high of 10106100 EUR Thousand in March of 2020 and a record low of -280890 EUR Thousand in January of 1982. This page provides the latest reported value for - Ireland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ireland Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Central Statistics Office Ireland
Balance of Trade in Ireland is expected to be 3800000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Ireland to stand at 4000000.00 in 12 months time. In the long-term, the Ireland Balance of Trade is projected to trend around 3000000.00 EUR Thousand in 2021 and 2300000.00 EUR Thousand in 2022, according to our econometric models.