Value of Irish exports fell €919m in July, says CSO 

Export trade to the US fell 17% after earlier stockpiling of goods

The value of Irish exports fell by €919.2m to €17.2bn in July compared with July 2024 as exports to the US suffered a 17% slump. Pic: Larry Cummins

The value of Irish exports fell by €919.2m to €17.2bn in July compared with July 2024 as exports to the US suffered a 17% slump.

The unadjusted value of goods exports decreased by €919.2m - a 5.1% fall - to €17.2bn compared to the €18.2bn exported in July 2024. The value of imports fell by €92.1m to €12bn in July 2025 compared with July 2024.

In July 2025, Ireland’s top exporting partners were the United States (€4.4bn), the Netherlands (€2.2bn), and Germany (€1.5bn). Exports of goods to the US decreased 17.2% - €909.4m - to €4.4bn. Many exporters had stockpiled goods heading to the US earlier in the year amid fears surrounding tariffs from the Trump administration. The trade deal the EU struck with the US was only reached on July 27.

Grant Thornton partner Janette Maxwel said the fall from €5.3bn highlighted ongoing fluctuation in global trade. “A variety of factors are likely to be at play such as stockpiling earlier in the year in anticipation of potential tariffs, as well as currency and cost pressures. A stronger euro and increased production costs may have also reduced competitiveness in the US market,” Ms Maxwell said.

BDO head of customs and international trade services Carol Lynch said the decline was expected “as stockpiling needs decreased and tariffs kicked in”, noting exports to the US for the first seven months of 2025 were €80bn versus €39bn for the first seven months of 2024.

Exports of medical and pharmaceutical products, representing 40.4% of total export trade, fell by €106.2m to €7bn in July 2025 compared with July 2024. Imports of medical and pharmaceutical products surged by €1.2bn (87%) to €2.5bn in July 2025 and represented 20.7% of total imports in the month.

Ireland’s seasonally adjusted trade surplus increased by €409.8m (+8.2%) to €5.4bn in July 2025 compared with 2024.

CSO statistician Jane Burmanje said the US was our largest exporting partner in July 2025 followed by the Netherlands, which accounted for 12.6% (€2.2bn) of total export goods and Germany at 8.6% or €1.5bn.

The US is Ireland’s second largest import trading partner, after Germany, where we source €1.8bn of goods.