Irish exports fall significantly with 40% drop-off in goods sent to US 

Recent figures show increased trade volatility due to Ireland's major reliance on exports to the US 

On a monthly basis, Irish good exports decreased by more than 42% when seasonally adjusted, according to CSO preliminary figures.

The value of Irish exports fell significantly in October following a strong performance in the previous month, with trade continuing to experience increased volatility in the wake of tariffs.

New figures released by the Central Statistics Office (CSO) on Wednesday found that the value of Irish exports fell by more than €4.5bn in October compared to the same month last year, largely driven by a dramatic drop in medical and pharmaceutical exports.

Exports of these products fell by more than 36% in the month after a strong September, with the decrease reflecting a drop of €4bn. 

On a monthly basis, Irish good exports decreased by more than 42% when seasonally adjusted, according to CSO preliminary figures.

Goods destined for the US also fell notably, sinking by almost 40% to €4.3bn in the month.

The products which accounted for the largest share of exports to the US were chemicals and related products at €2.9bn and miscellaneous manufactured articles at €765m, representing 67% and 18% respectively of total exports to the US in October.

In the first ten months of this year, which have been dominated by tariff uncertainty in the wake of US President Donald Trump's punitive levy measures, Ireland’s exports of goods grew by more than €41bn, reflecting a more than 22% rise.

Between January and October this year, Ireland exported almost half (46%) of the total value of export goods to the US.

Total exports in the ten months were valued at €228.5bn compared with the same period in 2024. Of this, some €90.3bn were chemicals and related products exported to the US, just under double what it was in the first 10 months of last year.

In the same period, medical and pharmaceutical products represented 55% of the total value of export goods, CSO statistician Jane Burmanje said.

Meanwhile, imports in October rose by almost 5% to €12.3bn in October, with total imports so far this year rising by 5.6% to €117.3bn.

“It’s right to not become too excited by September’s export figures, and also that we don’t become too despondent by October’s figures - the year-on-year trend is the most telling,” says Louise Kelly, Global Trade Strategy and Resilience Leader at Deloitte.

"Month-on-month we can expect volatility in export data, which is clear when you compare September and October figures, as organisations responded to a changing trade environment in 2025. However, the year-on-year comparison is important and shows strength in our exports.

Ms Kelly said frontloading was a significant part of this year's exports, which happened in response to the US's threat of tariffs on Irish goods.