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Financial News: Ireland Trade Surplus Falls In May

Ireland Trade Surplus Falls In May

07/18/2022 - 06:41:00 (RTTNews)

(RTTNews) - Ireland's foreign trade surplus decreased in May, as imports rose faster than exports, figures from the Central Statistics Office showed on Monday.

The seasonally adjusted trade surplus shrank to EUR 5.738 billion in May from EUR 5.866 billion in April.

In the corresponding month last year, the trade surplus was EUR 4.979 billion.

Both exports and imports increased by 1.0 percent and 3.0 percent, respectively, in May.

On an unadjusted basis, exports were 33.0 percent higher in May compared to last year, while imports grew at a much faster pace of 46.0 percent.

"The increases in goods exports were driven mainly by growth in the exports of medical and pharmaceutical Products," Ciaran Counihan, statistician at the Central Statistics Office, said.

Imports from Great Britain grew by 71.0 percent annually in May, driven mainly by increases in the imports of mineral fuels and chemicals and related products.

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